Why These 3 Stocks Were Surging In After-Hours
Shares of Zagg Inc (NASDAQ: ZAGG) were trading down about 12.6 percent in Monday’s after-hours session, following the announcement of the company’s fourth quarter results. The firm posted earnings of $0.18 per share, missing the Street’s consensus of $0.24 per share. Revenue of $ 78.63 million also came in under expectations for $ 82.23 million. The company announced the closing of its acquisition of mophiefor $100 million.
Randy Hales, President and CEO of Zagg said, “We are very excited to announce the closing of our strategic merger with mophie, the market leader in battery cases and external power for mobile devices… The acquisition further positions ZAGG as a leading accessories innovation company with a more diverse product offering and broader distribution footprint that can be leveraged to increase enterprise value for ZAGG stockholders.”
On the other hand, Blue Buffalo Pet Products Inc (NASDAQ: BUFF) gained more than 12.3 percent after announcing earnings of $0.16 per share, $0.02 above the Street’s consensus, and revenue of $265 million, $5.8 million ahead of expectations. Blue Buffalo's management also said it anticipates adjusted earnings of $0.72-$0.74 on revenue of $1.12 billion to $1.14 billion for 2016. Analysts were instead modeling EPS of $0.70 on revenue of $1.13 billion.
Amplify Snack Brands Inc (NYSE: BETR), which rose about 11 percent after the market closed. The company posted earnings of $0.13 per share, $0.04 above the Street’s consensus, on revenue of $46.4 million, $2.64 million above estimates.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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