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Market Overview

Tuesday's After-Hours Movers: Norfolk Spikes On Letter From Canadian Pacific, Vipshop Gains On Strong Earnings Report


U.S. equities ended the day mostly flat after a volatile trading session. The Dow finished higher by just 0.04 percent at 17,489.23, the S&P 500 lost 0.13 percent to close at 2,050.44, and the Nasdaq gained 0.03 percent to close at 4,986.02.

Strong earnings reports on Tuesday morning from several notable retailers, including Home Depot Inc (NYSE: HD), TJX Companies Inc (NYSE: TJX), and Wal-Mart Stores, Inc. (NYSE: WMT) may have eased investor fears over a slowdown in spending.

Tuesday's after-hours trading session featured a few note-worthy earnings and news reports.

Notable News Reports

Citrix Systems, Inc. (NASDAQ: CTXS) announced it will spin off its GoTo Family of Products. The company also updated its full year fiscal 2016 guidance and expects to earn $4.40 to $4.50 per share (versus the consensus estimate of $4.21) and sees its adjusted operating margin being at least 30 percent. Shares initially bounced higher by 2 percent, but were seen trading higher by just 0.78 percent at $79.03 approximately 10 minutes after the announcement.

Nasdaq officials said that it will cancel all trades in Airgas, Inc. (NYSE: ARG) at or below $133.86 that were executed between 2:35 p.m. and 2:36 p.m. ET.

Canadian Pacific Railway Limited (NYSE: CP) sent a letter to Norfolk Southern Corp. (NYSE: NSC), stating that a combined entity "would create capacity for all shippers without creating the need for more infrastructure." Shares of Norfolk spiked higher to $97.50 following the report, but fell back to $92.50 per share as of 4:20 p.m. ET, marking a 6.36 percent gain.

Notable Earnings Reports

Shares of Vipshop Holding Ltd – ADR (NYSE: VIPS), an online China-based discount retailer, spiked higher by nearly 6 percent after the company reported an adjusted third-quarter earnings of $0.08/ADS on revenue of $1.36 billion.

Shares of Jack in the Box Inc. (NASDAQ: JACK), a restaurant operator that also owns the Qdoba Restaurant brand, saw its shares trading near flat after the company reported that it earned $0.62 per share in its fourth quarter on revenue of $354.068 million. Analysts were looking for an earnings per share of $0.65 on revenue of $356.83 million. Shares were trading higher by more than 4 percent heading into the company's conference call.


Related Articles (ARG + CP)

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Posted-In: News After-Hours Center Movers

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