Shares of SolarCity Corp (NASDAQ: SCTY) were trading down more than 24 percent on Tuesday’s after-hours session, following the announcement of the company’s fourth quarter fiscal 2015 financial results. The renewable energy firm reported a net loss of $(2.37) per share, $0.20 better than expected, on revenue of $115.48 million, above the Street’s consensus of $104.29 million. So, why is the stock plummeting if results beat expectations? Well, it seems like investors were no particularly happy with the guidance provided for the first quarter of 2016. SolarCity guided for a first quarter net loss between $(2.55) and $(2.65) per share, which is wider that the expected $(2.11).
Also falling on its earnings call was Walt Disney Co (NYSE: DIS), down than 2.7 percent since the bell rang. The entertainment and media company delivered earnings of $1.63 per share on revenue of $15.244 billion, well above the Street’s consensus of $1.44 per share and $14.928 billion. Despite the record earnings driven by the enormous success of Star Wars: The Force Awakens, the shares were inexplicably trading down.
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Yet another decliner on Tuesday afternoon was Nuance Communications Inc. (NASDAQ: NUAN), down 1.45 percent on its first quarter fiscal 2016 earnings call. Same as in the cases above, the smid cap provider of voice and language solutions posted earnings of $0.36 per share on revenue of $494.87 million, well above the Street’s consensus of $0.32 per share and $491.23 million, but the shares were still tumbling.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.