Market Overview

Wednesday's After-Hours Movers Led By American Superconducto, Men's Wearhouse, First Solar And Ollie's

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Shares of Men's Wearhouse Inc (NYSE: MW) were trading up roughly 2 percent in Wednesday’s after-hours session, ahead the announcement of the company’s third quarter financial results. According to Estimize, the Street is expecting a year-over-year decline in earnings of almost 40 percent, from $0.83 per share in the third quarter of 2014, to $0.50 per share this quarter. Results will be released at 5:30 p.m. ET.

Ollie's Bargain Outlet Holdings Inc (NASDAQ: OLLI) was up 6 percent after the bell rang. The small-cap retailer delivered earnings of $0.11 per share on revenue of $174.57 million, above the Street’s consensus estimate of $0.08 per share and $168.43 million.

Another big gainer of the afternoon was American Superconductor Corporation (NASDAQ: AMSC), up more than 17 percent. The surge was driven by the announcement of an improved third quarter outlook. Management now expects revenue in the range of $22 million to $24 million, up from the previous guidance of $19 million to $22 million. In addition, management expects the company to get close to neutral cash flows in the quarter.

First Solar, Inc. (NASDAQ: FSLR) fell more than 7 percent on its updated guidance. The company said it now expects full-year fiscal 2016 earnings in the $4 to $4.50 per share range, on sales between $3.9 billion and $4.1 billion. According to MarketWatch, analysts were anticipating EPS of $4.09 on sales of $4.07 billion.

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

Posted-In: Earnings News After-Hours Center Movers

 

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