Stocks Making the Biggest Moves After Hours: Beyond Meat, eBay, First Solar, Agilent Technologies, Axon Enterprise, Urban Outfitters, Boston Beer Company
Investors and traders pay close attention to after-hours market activity as it often reveals the performance of key companies outside regular trading hours. In this article, we will look at some notable stock movements after hours and delve into the reasons behind them.
Beyond Meat Surges Over 78% on Stellar Revenue Beat
Beyond Meat, the renowned plant-based meat company, witnessed its shares skyrocket by more than 78% after exceeding revenue estimates for the fourth quarter. The company reported impressive revenue of $73.7 million, surpassing the forecasted $66.7 million by industry analysts. This exceptional performance indicates the growing popularity and demand for plant-based alternatives in the food industry.
eBay Rises 4% on Dividend Raise and Share Buyback Announcement
eBay, the online marketplace giant, experienced a 4% increase in its stock price after announcing a dividend raise of 2 cents per share and an additional $2 billion share buyback. Moreover, eBay’s fourth-quarter results surpassed Wall Street estimates on both the top and bottom lines. The company’s positive guidance for first-quarter earnings per share further fueled investor optimism.
First Solar Meets Full-Year Guidance, Gains Over 3%
First Solar, a leading solar company, gained more than 3% in after-hours trading as its full-year guidance met Wall Street expectations. The company reported fourth-quarter earnings of $3.25 per share, surpassing analysts’ estimates of $3.13 per share. This solid performance reflects First Solar’s strong position in the renewable energy industry.
Agilent Technologies Surges 5% on Impressive Fiscal First Quarter Results
Shares of Agilent Technologies, a global leader in life sciences, diagnostics, and applied chemical markets, surged 5% after posting adjusted earnings and revenue that beat Wall Street’s expectations for the fiscal first quarter. The company also provided a positive outlook, forecasting full-year revenue in the range of $6.71 billion to $6.81 billion, exceeding analysts’ forecast of $6.74 billion.
Axon Enterprise Exceeds Revenue Expectations, Stock Climbs Nearly 6%
Axon Enterprise, a renowned provider of weapons and technology solutions, witnessed its stock climb nearly 6% after issuing full-year revenue guidance that exceeded expectations at the high end. The company forecasts revenue in the range of $1.88 billion to $1.94 billion, surpassing FactSet’s analysts’ estimate of $1.88 billion. Axon’s strong position in the market contributed to this positive outlook.
Urban Outfitters Retreats Over 6% on Disappointing Earnings and Revenue
Urban Outfitters, a popular retailer, experienced a decline of more than 6% as it posted adjusted earnings and revenue that fell short of analysts’ estimates. The company also fell short of retail comps expectations, according to FactSet. This underperformance may prompt the company to reassess its strategies to regain investor confidence.
Boston Beer Company Slips 12% on Lower-Than-Expected Earnings Guidance
The parent company of Sam Adams, Boston Beer Company, witnessed a 12% decline in its stock price after issuing lower-than-expected full-year earnings guidance. The company expects earnings in the range of $7 to $11 per share, disappointing analysts who had forecasted $11.39 per share. Additionally, the company missed revenue estimates for the fourth quarter, highlighting the challenges it faces in a highly competitive market.
These after-hours stock movements provide valuable insights into market sentiment and reflect the performance expectations of key companies. Investors and traders should carefully analyze such movements to make informed decisions. Stay updated with the latest financial news and insights at Business Today.