Market Overview

Monday's After-Hours Movers: Baidu, Cadence Design Systems, Amkor Tech And More


Shares of Baidu Inc (ADR) (NASDAQ: BIDU) were down more than 6 percent since the bell, after losing 4.16 percent during the day. The company reported earnings of $1.81 per share on revenue of $2.673 billion, slightly above the Street’s expectations of $1.80 per share and $2.58 billion.

The stock is falling as guidance fell short of Wall Street expectations.

Cadence Design Systems Inc (NASDAQ: CDNS) was up more than 3 percent after hours, following the announcement of the company’s Q2 financial results.

The SDE solutions developer reported earnings of $0.27 per share on sales of $415.88 million, versus the Street’s consensus estimate of $0.25 per share and $418.18 million. Despite having missed sales expectations, the beat and a new $1.2 billion share buyback plan are diving the stock up.

The biggest loser of the evening is was Amkor Technology, Inc. (NASDAQ: AMKR), which was down more than 12 percent after the company reported net sales of $737 million and earnings per diluted share of $0.04, well below the Street’s projections.

The big winner is Qumu Corp (NASDAQ: QUMU), a micro-cap enterprise video content management software company that was up more than 10 percent after hours ahead of the announcement of the company’s quarterly earnings call, scheduled for Wednesday.

Small-cap hardware provider Knowles Corp (NYSE: KN) was up more than 6 percent, although the company reported a loss of $16.1 million for its second quarter. On a per share basis, the net loss amounts to ($0.19). Revenue of $240.9 million also missed the Street’s expectations.

Posted-In: Earnings News After-Hours Center Movers


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