5 Stocks Moving In After-Hours: Tech M&A, Earnings & Some Mystery

U.S. stocks continued to tumble, for a fifth consecutive day, on Wednesday as investors digested the Fed’s decision not to increase interest rates.

Let’s take a look into some of the stocks moving in the after-hours session.

Shares of Jabil Circuit, Inc. JBL were down more than 1.1 percent since the bell rang, driven by the announcement of the company’s third quarter financial results. While EPS of $0.17 beats the Street’s consensus by $0.01, and revenue of $4.31 billion came in $130 million ahead of estimates, the fourth quarter outlook was disappointing. Management guided for EPS of $0.15 to $0.35, on revenue of $4.15 billion to $4.35 billion. Consensus called for EPS of $0.53 and revenue of $4.66 billion.

Also slipping on its earnings report was Korn/Ferry International KFY, which lost 2.25 percent since the bell rang on Wednesday afternoon even though fourth quarter EPS of $0.58 and revenue of $417.1 million, up 47.8 percent year-over-year, came in ahead of the Street’s consensus of $0.62 and $446.46 million.

However, none of these companies saw declines as large as the one witnessed in International Business Machines Corp. IBM, which plummeted 21.5 percent in Wednesday’s after-hours session on what –as of 5 p.m.- seems like no particular news.

On the other hand, there’s QLogic Corporation QLGC, which was up almost 12 percent in after-hours, on news that Cavium Inc CAVM, down 8.4 percent since the bell rang, had agreed to acquire the company. The latter will pay $1.36 billion for the former, which counts with $355 million in cash. The deal values QLogic at $15.50 per share,a 9 percent premium to Wednesday’s closing price.

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