Here's a look at some of Wednesday’s after-hours movers.
Shares of QUALCOMM, Inc. QCOM fell 1.41 percent during the day, and are down more than 1 percent after the bell, although the company reported earnings of $0.99 per share, above the Street’s consensus and guidance, on revenue of $5.832 billion, also above estimates and guidance.
Despite the beat, the stock is down because these figures imply a 24 percent year-over-year decline in earnings, and a 14 percent drop in sales – which marked the biggest fall in revenue since 2009.
The company also announced plans to reshuffle its Board, cut its workforce by 15 percent, reduce costs by $1.4 billion and possibly split itself.
SanDisk Corporation SNDK also beat the Street’s expectations, and is up almost 6 percent in after-hours, after tumbling 2.58 percent during Wednesday trading. Earnings came in at $0.38 per share, versus consensus of $0.32 per share, and revenue came in at $1.237 billion, compared to the Street’s estimate of $1.189 billion and guidance of $1.188 billion.
F5 Networks, Inc. FFIV is one of the biggest winners in after-hours, up roughly 6 percent after reporting its third quarter financial results. The company announced earnings of $1.67 per share on revenue of $483.59 million, versus consensus expectations of $1.60 per share and $482.61 million.
Outside of Silicon Valley, there’s American Express Company AXP, down approximately 1.27 percent in after-hours, following an earnings beat and revenue miss. Earnings came in at $1.42 per share, beating consensus of $1.33 per share, while revenue fell 4.2 percent to $8.3 billion, falling short of expectations for $8.393 billion.
Other stocks moving on earnings on late-Wednesday are:
- Las Vegas Sands Corp. LVS, up more than 5 percent
- Cirrus Logic, Inc. CRUS, up about 13.5 percent
- Fortinet Inc FTNT, up roughly 11 percent
- United Rentals, Inc. URI, down almost 5 percent
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