Why These 3 Stocks Rose In After-Hours Trading
Shares of Oracle Corporation (NYSE: ORCL) were trading up more than 4 percent in Tuesday's after-hours session, following the announcement of the company's third quarter results. The company posted earnings of $0.64 per share, $0.02 above the Street's consensus, while revenue of $9.014 billion fell short of expectations for $9.173 billion.
Despite the stellar growth of its cloud business, FX headwinds and sluggishness in its traditional software segment led to a revenue decline in the quarter. The company announced a $10 billion increase in its stock buyback program.
Caleres Inc (NYSE: CAL) lost more than 8 percent after reporting its fourth quarter results. Earnings of $0.26 per share came in $0.04 ahead of consensus estimates. Sales of $646.66 million missed expectations for $687.80 million.
Avid Technology, Inc. (NASDAQ: AVID) was up more than 6 percent after the bell rang. The small-cap open and integrated technology platform provider posted a fourth quarter net loss of $(0.11) per share on revenue of $139.66 million. Earnings, adjusted for restructuring costs and amortization costs, amounted to $0.12 per share. The figure still fell short of expectations for EPS of $0.36. However, revenue, which rose 9 percent year-over-year, beat the Street’s consensus of $135.35 million.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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