Stocks making the biggest moves after hours: SolarEdge Technologies, Advanced Micro Devices, Starbucks and more

Market Insider

In this article

Elf complexion sponges arranged in Germantown, New York, July 17, 2023.
Gabby Jones | Bloomberg | Getty Images

Check out the companies making headlines after hours.

SolarEdge Technologies — The solar stock dropped 11% in extended trading. SolarEdge missed revenue expectations in its second quarter, posting $991 million compared to the expected $992 million from analysts polled by Refinitiv. The company beat earnings estimates, posting an adjusted $2.62 per share, better than the $2.52 per-share estimate.

Advanced Micro Devices — The chip stock jumped nearly 4% after Advanced Micro Devices reported better-than-expected quarterly results. AMD reported second-quarter adjusted earnings of 58 cents per share on revenue of $5.36 billion. Analysts polled by Refinitiv expected per-share earnings of 57 cents on revenue of $5.31 billion.

Freshworks — Freshworks advanced nearly 14% after reporting second-quarter earnings that exceeded expectations on the top and bottom lines. The software company reported adjusted earnings of 7 cents per share on revenue of $145 million. Analysts polled by Refinitiv had expected per-share earnings of 2 cents on revenue of $141 million.

Starbucks — Starbucks declined 1% after reporting a revenue miss. The coffee chain reported fiscal third-quarter revenue of $9.17 billion, lower than the $9.29 billion estimated by analysts polled by Refinitiv. Starbucks did post adjusted per-share earnings of $1.00, better than the 95 cent estimate.

Virgin Galactic — Virgin Galactic shares dipped 3% after the space tourism company posted a revenue miss in its second quarter. It reported revenue of $1.9 million, lower than the consensus estimate of $2.7 million, according to Refinitiv. It did beat on earnings expectations. Virgin Galactic posted a loss per share of 46 cents, better than the estimated loss of 51 cents per share.

Pinterest — Pinterest slipped 0.5% after the bell despite posting a top-and-bottom line beat. The image-sharing platform reported adjusted earnings of 21 cents a share on revenues of $708 million, per Refinitiv.

e.l.f. Beauty — The beauty stock surged 15% after e.l.f. Beauty topped analysts’ expectations in its most recent quarter. e.l.f. Beauty posted first-quarter adjusted earnings of $1.10 per share on revenue of $216 million. Analysts polled by Refinitiv had expected per-share earnings of 56 cents per share on revenue of $184 million.

Match Group — Shares surged 11% after Match Group exceeded analysts’ second-quarter expectations. The dating app company posted earnings of 48 cents per share on revenue of $830 million. Analysts polled by Refinitiv had expected per-share earnings of 45 cents on revenue of $811 million.

Devon Energy — The stock fell about 2% after Devon Energy missed revenue expectations in its second quarter. Devon Energy posted revenues of $3.45 billion, lower than the estimated $3.74 billion from analysts polled by Refinitiv. Earnings came in line with estimates. Devon reported adjusted earnings of $1.18 per share.

Frontier Group Holdings — Frontier Group rose more than 3% after reporting earnings that beat on the top and bottom lines. The airline company reported second-quarter adjusted earnings of 31 cents per share on revenue of $967 million. Analysts polled by Refinitiv expected per-share earnings of 28 cents on revenue of $966 million.

Electronic Arts — Electronic Arts slid 3.5% after its fiscal first-quarter revenue missed analysts’ expectations. The video game company reported $1.58 billion, lower than the consensus estimate of $1.59 billion, according to Refinitiv. It posted earnings per share of $1.47, topping the forecasted $1.02 per share.

Caesars Entertainment — Caesars Entertainment fell more than 2% in extended trading. The casino company reported second-quarter revenue of $2.88 billion, beating the estimate of $2.87 billion, according to Refinitiv. The earnings per share figure was not comparable.

— CNBC’s Samantha Subin contributed to this report.

Articles You May Like

Gary Gensler reviews his accomplishments, says he was ‘proud to serve’ as SEC chair
Greenlight’s David Einhorn says the markets are broken and getting worse
Cathie Wood says her ‘volatile’ ARK Innovation fund shouldn’t be a ‘huge slice of any portfolio’
Processed food stocks fall as investors brace for increased scrutiny under Trump, RFK Jr.
Trump is the most pro-stock market president in history, Wharton’s Jeremy Siegel says