Monday's After-Hours Movers Led By Baidu, Cadence Design Systems, Amkor Tech, Qumu & Knowles

Let’s take a look at Monday’s after hours movers.

Shares of Baidu Inc (ADR) BIDU are down more than 6 percent since the bell, after losing 4.16 percent during the day. The company just reported earnings of $1.81 per share on revenue of $2.673 billion, slightly above the Street’s expectations of $1.80 per share and $2.58 billion.

Despite the beat, the stock is falling as guidance fell short of Wall Street expectations.

On the other hand, Cadence Design Systems Inc CDNS is up more than 3 percent in after-hours, following the announcement of the company’s second quarter financial results.

The SDE solutions developer reported earnings of $0.27 per share on sales of $415.88 million, versus the Street’s consensus estimate of $0.25 per share and $418.18 million. Despite having missed sales expectations, the earnings beat and a new $1.2 billion share buyback plan are diving the stock up.

The biggest loser of the evening is, so far, Amkor Technology, Inc. AMKR, which is down more than 12 percent after the company reported net sales of $737 million and earnings per diluted share of $0.04, well below the Street’s projections.

On the opposite sidewalk, the biggest winner is Qumu Corp QUMU, a micro-cap enterprise video content management software company that is up more than 10 percent in after-hours ahead of the announcement of the company’s quarterly earnings call, scheduled for Wednesday.

Finally, small-cap hardware provider Knowles Corp KN is the biggest gainer in the New York Stock Exchange. The shares are up more than 6 percent since the bell rang, although the company reported a loss of $16.1 million for its second quarter. On a per share basis, the net loss amounts to ($0.19). Revenue of $240.9 million also missed the Street’s expectations.

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Posted In: EarningsNewsAfter-Hours CenterMovers
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