Market Overview

Thursday's After-Hours Movers: 2 Stocks Spiking, 2 Stocks Tanking

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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 (NASDAQ: NVDA) reported Q2 results, which led to a 3.55 percent surge. 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.

Nordstrom, Inc. (NYSE: JWN) gained more than 11 percent following 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.

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Ruby Tuesday, Inc. (NYSE: RT) tumbled almost 12 percent, 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.

Ocean Rig UDW Inc. (NASDAQ: ORIG)  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."

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


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