After-Hours Earning Reports: 2 Stocks Spiking & 2 Stocks Tanking

All three major U.S. stock indexes closed at record-highs on Thursday, driven by a rebound in oil prices and energy stocks, strong results out of consumer companies, and strong economic data.

After the market closed, NVIDIA Corporation NVDA reported its Q2 results, which led to a 3.55 percent surge in the stock. EPS of $0.53 beat the Street’s consensus by $0.16, while revenue of $1.43 billion, up 24.3 percent year-over-year, came in $80 million ahead of expectations. For the ongoing quarter, management guided for revenues of $1.68 billion (plus or minus 2 percent), above estimates of $1.45 billion, and non-GAAP gross margins of 58 percent.

Also on the rise was Nordstrom, Inc. JWN, which gained more than 11 percent in after-hours, following the announcement of the company’s Q2 results. While revenue of $3.65 billion, down 1.4 percent year-over-year, missed expectations by $30 million, EPS of $0.67 beat them by $0.11. Also helping the stock was a guidance raise. Nordstrom now anticipated full year EPS of $2.60-$2.75, above analyst estimates of $2.57.

Opposite to the above was the case of Ruby Tuesday, Inc. RT, which tumbled almost 12 percent on Thursday afternoon, driven by a top and bottom line miss. Q4 EPS of $0.10 were $0.01 smaller than anticipated, while revenue of $279.32 million, down 5.9 percent year-over-year, missed estimates by $5.68 million. Hurting the stock as well was a 3.7 percent decline in comparable store sales, and the announcement of a plan to close 95 underforming restaurants.

Finally, there’s Ocean Rig UDW Inc. ORIG, one of the biggest declines in Thursday’s after-hours session. Shares plummeted roughly 56 percent, even though Q2 EPS of $1.83 and revenue of $452.6 million beat the Street’s consensus by $1.11 and $76.15 million, respectively. Beyond the figures, however, it’s all bad news. During the call, Chairman and CEO George Economou assured the company will focus on de-leveraging and maintaining liquidity, amidst “extremely negative” market conditions:

"Oil companies continue to reduce their offshore budgets and as more floaters come off contract in the next six months, an already grossly oversupplied market is expected to worsen. In this current and anticipated poor market environment which we expect to persist for an extended period of time, we believe it is prudent to focus on maintaining liquidity and de-levering the Company."

Having said this, the exec warned investors about potential debt amendments being done, and

"While we have not made any specific decisions, it is evident to the Company and a number of its creditors that its debt obligations will need to be amended or exchanged for new debt and/or equity securities, and some debt holders may have little or no recovery on their investment."

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.