Here are the stocks that are making remarkable moves in expanded trading.
Broadcom – Shares of the chips rose more than 3% in long-term trading on Thursday, after Broadcom surpassed the estimates for the top and bottom line for its first fiscal quarter. The company reported $ 8.39 adjusted earnings per share, while analysts surveyed by Refinitiv were looking for $ 8.08 per share. The company’s revenue guidelines for the second quarter were also above expectations.
Gap Store in New York, August 2, 2020
Scott Mill CNBC
Gap – Gap shares rose more than 8% in long-term trading after the retailer reported less-than-expected fourth-quarter loss and issued strong earnings guidelines. Gap reported losses of 2 cents per share, compared to the forecast of 14 cents by analysts at Refinitiv. Revenue was $ 4.53 billion, compared to approximately $ 4.49 billion. For the full year, Gap expects to earn between $ 1.85 and $ 2.05 per share. Analysts had expected adjusted earnings of $ 1.86 per share.
Smith & Wesson Brands – Shares of the firearms manufacturer fell 14.7% in expanded trading after the company’s results for the third quarter of the fiscal year did not meet analysts’ expectations. The company reported 69 cents adjusted earnings per share for $ 177.7 million in revenue. Analysts polled by Refinitiv were looking for 83 cents and $ 198.3 million in revenue, according to FactSet’s StreetAccount. CEO Mark Smith said in a statement that the firearms market had “cooled significantly” from where it had been during the pandemic.
Sweetgreen – Shares of Sweetgreen rose nearly 20% hours later after the salad chain saw stellar sales growth in the fourth quarter. This is the first time the restaurant has published a quarterly report since its public debut. Net sales rose 63 percent to $ 96.4 million, beating analysts’ expectations of $ 84.7 million, according to Refinitiv. The company reported a net loss for the quarter.