Global Courant 2023-05-04 02:35:51
The Etsy website
Gabby Jones | Bloomberg | Getty Images
Check out the businesses making headlines after hours.
Pac West, Western Alliance, Comerica – Shares of PacWest plummeted more than 50% in extended trading following a Bloomberg News report that the regional bank was exploring strategic options, including a possible sale. The news also weighed on other medium-sized banks. Western Alliance shares fell 27%. Valley National‘s shares fell 13% and Comerica fell almost 12%.
SolarEdge Technologies — SolarEdge Technologies rose about 9% after beating first quarter expectations on the top and bottom lines. The company reported adjusted earnings of $2.90 per share against an estimate of $1.92, on revenue of $944 million that topped a consensus of $933 million, according to analysts polled by Refinitiv.
Etsy — Etsy rose 6.7% after beating Q1 revenue expectations. The online marketplace focused on handmade goods reported sales of $641 million, above its $622 million estimate, according to consensus data from Refinitiv. Earnings per share of 53 cents were in line with expectations.
Qualcomm — Qualcomm fell 2.2% after issuing weaker-than-expected guidance for the third quarter. The semiconductor maker expects earnings per share of between $1.70 and $1.90, lower than the consensus estimate of $2.16. Second-quarter revenue beat estimates, while earnings per share came in as expected, Refinitiv said.
Zillow group — Shares rose 4.9% after Zillow Group beat first-quarter revenue estimates. The online real estate market posted revenues of $469 million, above the $425 million estimate, according to analysts polled by Refinitiv. Zillow did not include earnings per share information in its press release.
TripAdvisor — TripAdvisor lost 6.2% after disappointing Q1 earnings. The online travel agency posted adjusted earnings of 5 cents per share, lower than the consensus forecast of 7 cents per share, Refinitiv said. Revenue of $371 million beat consensus estimates of $359 million.
Frontier Group Holdings — The stock added about 2% after Frontier Group Holdings posted a smaller-than-expected first-quarter loss. The company reported a loss of 6 cents per share, better than the 8 cents per share loss expected by analysts, Refinitiv said. Sales exceeded estimates.
— CNBC’s Jesse Pound contributed reporting
