Check out the companies making headlines in extended trading.
Enphase Energy — The solar inverter company saw shares slide about 16% after hours after reporting a mixed quarter that included disappointing revenue results. Enphase brought in revenues of $726 million. Analysts were looking $732.5 million, according to Refinitiv. Competitor SolarEdge slid more than 6%.
PacWest Bancorp — Shares of the regional bank jumped 15% after PacWest said it has seen deposit inflows over the past month. PacWest said deposits fell more than 16% during the first quarter to roughly $28.2 billion. However, the bank said it has added about $1.8 billion in deposits since March 20, which was its prior update to investors. That sum includes $700 million in deposits in April. PacWest also reported a net loss of $1.21 billion for the quarter, due largely to a goodwill impairment charge.
Chipotle Mexican Grill — The burrito chain jumped 7.7% after hours following the company’s latest financial results. Chipotle’s earnings and revenue for the first quarter beat estimates by analysts surveyed by Refinitv. Same-store sales rose 10.9%, topping StreetAccount estimates of 8.6%.
Microsoft — The tech giant’s shares rose nearly 5% after the company reported quarterly earnings and revenue that exceeded analysts’ expectations, according to Refinitiv. Revenue in Microsoft’s Intelligent Cloud business segment grew by 16% to $22.08 billion, coming in higher than analysts predicted.
Alphabet — The Google parent saw shares rise 4% after it posted first-quarter revenue that topped estimates, according to Refinitiv, and reported a profit in its cloud business for the first time on record. The company’s board also authorized a $70 billion share buyback. Big Tech peers Amazon and Meta gained about 2% each.
Texas Instruments — The chipmaker gained nearly 2% after reporting better-than-expected earnings for the first quarter and revenue that was in line with estimates, according to Refinitiv.
Visa — The payments giant rose almost 2% in extended trading after reporting adjusted earnings of $2.09 per share on revenues of $7.99 billion for its latest quarter, according to Refinitiv. Analysts were expecting earnings of $1.99 per share on revenues of $7.79 billion.
— CNBC’s Jesse Pound contributed reporting
Source: Finance - cnbc.com
