Shares of Cree, Inc. CREE were trading down about 16 percent in Tuesday’s after-hours session, after the company announced its fiscal third quarter preliminary results. Management said it expects non-GAAP EPS of $0.13 to $0.15, well below consensus of $0.24. Revenue of $367 million not only implies a 10.4 percent year-over-year decline, but it also falls short of estimates of $414.35 million. The company cited weakness in its lighting products business as one of the main drivers of the feeble results.
Spirit Airlines Incorporated SAVE gained more than 3.6 percent after the bell rang on Tuesday, in what seemed like a correction of the 3.53 percent tumble the stock experienced over the day.
OneMain Holdings Inc OMF gained more than 5.25 percent after the market closed, after having tumbled 5.02 percent during the regular session.
Jabil Circuit, Inc. JBL was up almost 4 percent after the company posted its form 10Q quarterly report with the SEC.
Other stocks surging after-hours included:
- SM Energy Co SM, up 5.3 percent
- Gramercy Property Trust GPT, up 4 percent
- Gap Inc GPS, up 3.5 percent
- AMAG Pharmaceuticals, Inc. AMAG, up 2.6 percent
- Corvus Pharmaceuticals Inc CRVS, up 2.25 percent
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above
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