Why These Stocks Rose In After-Hours Trading

Shares of Oracle Corporation ORCL were trading up more than 4 percent on Tuesday’s after-hours session, following the announcement of the company’s third quarter financial results. The large cap tech company posted earnings of $0.64 per share, $0.02 above the Street’s consensus; however, revenue of $9.014 billion fell short of expectations for $9.173 billion.

Even in spite of the stellar growth of its cloud business, FX headwinds and sluggishness in its traditional software segment led to a revenue decline in the quarter. On the bright side, Oracle announced a $10 billion increase in its stock buyback program.

On the other hand, there’s Caleres Inc CAL, which lost more than 8 percent after reporting its fourth quarter financial results. Earnings of $0.26 per share came in $0.04 ahead of consensus estimates. Sales of $646.66 million, however, also missed expectations for $687.80 million.

Back to gainers, Avid Technology, Inc. AVID was up more than 6 percent since the bell rang. The small cap open and integrated technology platform provider posted a fourth quarter net loss of $(0.11) per share on revenue of $139.66 million.

Earnings, adjusted for restructuring costs and amortization costs, amounted to $0.12 per share. The figure still fell short of expectations for EPS of $0.36. However, revenue, which rose 9 percent year-over-year, beat the Street’s consensus of $135.35 million.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.