Market Overview

After-Hours Movers Led By Cintas, Steelcase

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Shares Cintas Corporation (NASDAQ: CTAS) were trading up almost 1.5 percent on Monday’s after-hours session, following the announcement of the company’s second quarter –- fiscal 2016 -- financial results.

The mid cap provider of business products and services reported earnings of $1.03 per share on revenue of $1.219 billion, beating the Street’s consensus estimate of $1.00 per share and $1.218 billion.

Also moving on its earnings call was Steelcase Inc. (NYSE: SCS). Since the market closed, the small cap industrials company lost more than 20 percent. The decline was triggered by the announcement of its third quarter financial results, which came in substantially below expectations.

According to Estimize, the Street was anticipating earnings of $0.33 per share on revenue of $813.2 million, and management had guided for EPS between $0.31 and $0.35. However, third quarter earnings finally came in at $0.30 per share, and sales, at $787.6 million.

Another big decliner on Monday’s after-hours trading session was the Credit Suisse AG - VelocityShares Daily 2x VIX Short Term ETN (NASDAQ: TVIX), which fell over 4.6 percent since the bell rang, after having lost 9.66 percent during the day. 

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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