Global Courant 2023-05-02 03:36:37
A monitor displays signage from Arista Networks Inc. on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, August 24, 2018.
Michael Nagel | Bloomberg | Getty Images
Check out the companies making headlines in after-hours trading.
Arista Networks — The cloud networking business fell 7% despite analysts’ expectations for the first quarter. Arista saw $1.43 in adjusted earnings per share in the quarter on $1.35 billion in revenue, while analysts polled by Refinitiv expected $1.34 per share on $1.31 billion. The company also issued second-quarter revenue expectations that were better than Wall Street had expected.
Chegg Shares of the educational technology company fell more than 36% in after-hours trading after the company issued weak guidance for second-quarter revenue. Separately, according to Refinitiv, the company beat analyst expectations for first-quarter adjusted earnings per share and revenue.
Everest Re group — Shares fell 4.7% after the insurance company failed to meet analyst expectations for the first quarter. The company said it saw $11.31 in after-tax operating income per share for the quarter, which is lower than the consensus estimate of $12.53 per share from analysts polled by FactSet. The company posted $3.29 billion in revenue, also below the $3.37 billion analyst forecast.
Stryker — The share of medical technologies fell by more than 4%. The company warned that if exchange rates remain near their current levels, it expects annual revenue and earnings per share to be “modestly adversely affected”. Separately, according to Refinitiv, the company posted top and bottom line beats in the first quarter.
NXP Semiconductors — Shares rose 3.9% after the company beat Wall Street expectations in the first quarter. The company posted $3.19 in adjusted earnings per share on $3.12 billion in revenue. Analysts polled by Refinitiv were expecting earnings of $3.02 per share on revenue of $3 billion.
Diamondback energy — The oil and gas company lost 1.7% after first-quarter earnings came in lower than Wall Street had expected. Diamondback reported earnings per share of $4.10, less than the consensus estimate of $4.33 from analysts polled by FactSet. But the company was able to post some small sales, posting $1.93 billion against The Street’s estimates of $1.92 billion.
MGM Resorts — The resort and casino business lost 0.2% on strong first quarter results. The company posted 44 cents in adjusted earnings per share, beating the consensus estimate of 10 cents per share, Refinitiv said. Revenue also exceeded expectations, with MGM recording $3.87 billion, while analysts forecast $3.59 billion.
— CNBC’s Darla Mercado and Scott Schnipper contributed reporting
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