Check out the companies making headlines after hours.
PacWest, Western Alliance, Comerica – Shares of PacWest plunged more than 50% in extended trading following a Bloomberg News report that the regional bank was exploring strategic options, including a potential sale. The news weighed on other mid-sized banks as well. Shares of Western Alliance dropped 27%. Valley National‘s shares slid 13%, and Comerica fell nearly 12%.
SolarEdge Technologies — SolarEdge Technologies jumped about 9% after beating first-quarter expectations on the top and bottom lines. The firm reported adjusted earnings of $2.90 per share against a $1.92 estimate, on revenue of $944 million that topped a $933 million consensus, according to analysts polled by Refinitiv.
Etsy — Etsy jumped 6.7% after beating first-quarter revenue expectations. The online marketplace focused on handmade goods reported revenue of $641 million, topping the estimate of $622 million, according to consensus data from Refinitiv. Per-share earnings of 53 cents matched expectations.
Qualcomm — Qualcomm fell 2.2% after issuing weaker-than-expected third-quarter guidance. The semiconductor maker expects earnings per share between $1.70 and $1.90 earnings, lower than the consensus estimate of $2.16. Second-quarter revenue beat estimates, while per-share earnings came in as expected, according to Refinitiv.
Zillow Group — Shares popped 4.9% after Zillow Group topped first-quarter revenue estimates. The online real estate marketplace posted revenue of $469 million, above the $425 million estimate, according to analysts polled by Refinitiv. Zillow did not post per-share earnings information in its press release.
TripAdvisor — TripAdvisor slid 6.2% after disappointing first-quarter earnings results. The online travel firm posted adjusted earnings of 5 cents per share, lower than the consensus forecast for 7 cents per share, according to Refinitiv. Revenue of $371 million beat consensus estimates for $359 million.
Frontier Group Holdings — The stock added about 2% after Frontier Group Holdings posted a narrower-than-expected first-quarter loss. The firm reported a loss of 6 cents per share, better than the 8 cents per share loss expected by analysts, according to Refinitiv. Revenue topped estimates.
— CNBC’s Jesse Pound contributed reporting
Source: Finance - cnbc.com
