Market Overview

Wednesday's After-Hours Movers Led By Facebook, Whole Foods Market, Western Digital, Unilife & Qorvo


Shares of Facebook Inc (NASDAQ: FB) surged 1.78 percent over Wednesday's trading, ahead of the announcement of the company’s second quarter financial results, scheduled for after the market close.

However, following the call, where the social media behemoth reported earnings of $0.50 per share on revenue of $4.042 billion, above the Street’s consensus of $0.47 per share and $3.994 billion, the stock is down more than 2 percent.

Whole Foods Market, Inc. (NASDAQ: WFM) is also down, almost 10 percent, in after-hours, after tumbling 0.29 percent during the day. The retailer delivered EPS of $0.43 on revenue of $3.632 billion, missing the Street’s consensus estimate of $0.45 per share and $3.697 billion.

Also moving on earnings is Western Digital Corp (NASDAQ: WDC), which is up about 0.3 percent on Wednesday evening, after the company beat consensus expectations on the earnings front but missed on the revenue front and fell short of its own guidance.

Earnings came in at $1.51 per share on revenue of $3.191 billion; the Street was expecting consensus EPS of $1.46 on sales of $3.279 billion; management had guided EPS of $1.55 on sales of $3.35 billion. The stock had surged 1.3 percent during the day.

The biggest winner of the evening is Unilife Corp (NASDAQ: UNIS), a micro-cap drug delivery company, which is seeing its stock rise more than 24 percent in after-hours. The surge follows the introduction of the company’s Imperium™ platform of instant patch pumps for insulin, the first instant patch pump for insulin in the world.

Related Link: Semi, IC Stocks Clobbered; Summit's Srini Sundararajan Provides Some Insight

On the other hand, Qorvo Inc (NASDAQ: QRVO) is the largest loser, down almost 15 percent in after-hours. However, the company reported EPS of $1.09 (above the Street’s consensus and guidance of $1.05) on revenue of $673.6 million, also above consensus of $665.34 million and guidance of $665 million.

Posted-In: Biotech Earnings Health Care After-Hours Center Movers Tech General


Related Articles (FB + QRVO)

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