Market Overview

Nike, Red Hat And Five Below Tumble After Hours

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Shares of Nike Inc (NYSE: NKE) were trading down more than 2 percent in Tuesday's after-hours session, following the announcement of the company’s third quarter results. The apparel and footwear giant reported earnings of $0.55 per share, up from $0.45 per share posted a year ago, and $0.06 above the Street’s consensus. Revenue of $8.032 billion, however, came in below expectations for $8.2 billion.

Red Hat Inc (NYSE: RHT) also lost more than 2 percent. The company delivered fourth quarter earnings of $0.52 per share, beating the Street’s consensus by $0.05. Revenue of $543.5 million also came in above expectations for $535.97 million.

Investors were somewhat disappointed for the guidance that management provided for the ongoing quarter. For its fiscal first quarter, Red Hat projects EPS of $0.50 on revenue of $558 million to $566 million. Analysts were modeling EPS of $0.50 as well, on revenue of $554.6 million.

Five Below Inc (NASDAQ: FIVE) lost more than 3 percent after the market closed. Although the company beat expectations for its fourth quarter, posting earnings of $0.77 per share ($0.01 above consensus) on revenue of $326.4 million, $2.66 ahead of estimates, guidance for the first quarter was dissatisfying. Management guided for first quarter earnings of $0.09 to $0.10 per share, on revenue of $186 million to $189 million. Consensus stands at $0.10 per share and $188.6 million.

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

 

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Posted-In: Earnings News Guidance After-Hours Center Movers

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