Stocks making headlines in extended trading
A closer look at the recent stock movements
Workday, NetApp, Leslie’s, Jabil, Las Vegas Sands, and Daily Journal are all companies that made headlines in extended trading due to significant stock movements.
Workday
Workday, a workforce platform provider, saw its stock rise more than 6% after third-quarter results exceeded Wall Street estimates. The company reported adjusted earnings of $1.53 per share on $1.87 billion in revenue, surpassing analysts’ expectations of $1.41 per share and $1.85 billion in revenue. This strong performance led to a positive market reaction for the company.
NetApp
NetApp, a data infrastructure firm, experienced a nearly 10% increase in its stock price following a beat on both the top and bottom lines in the fiscal second quarter. The company reported adjusted earnings of $1.58 per share on $1.56 billion in revenue, outperforming analysts’ forecasts of $1.39 per share and $1.53 billion in revenue. NetApp also issued higher-than-expected third-quarter earnings guidance, which contributed to the positive investor sentiment.
Leslie’s
On the other hand, stock in Leslie’s, a swimming supplies company, plummeted more than 16% after the company forecasted a wider-than-expected loss for the first quarter. The company is calling for an adjusted loss of 21 cents to 20 cents per share, compared to analysts’ expectations for a loss of 16 cents per share. Additionally, fourth-quarter adjusted earnings were below expectations, leading to a negative market reaction for the company.
Jabil
Shares of Jabil, a manufacturing solutions company, fell more than 8% after the company issued a lower revenue forecast for the fiscal first quarter of 2024. Jabil expects revenue in the range of $8.3 billion to $8.4 billion, down from a range of $8.4 billion to $9 billion.
Las Vegas Sands
Las Vegas Sands, a casino operator, slipped 3.5% after it was announced that Miriam Adelson would sell $2 billion in shares. Adelson, the largest shareholder of Las Vegas Sands, plans to use the funds to purchase a professional sports team, according to a regulatory filing.
Daily Journal
Shares of the Daily Journal are expected to be active following the passing of Charlie Munger, chair and publisher of the Daily Journal and second-in-command at Berkshire Hathaway, who died at age 99. Shares of the newspaper fell 4.5% during the regular session.
Overall, the stock market has seen a range of reactions to the recent performance of these companies, reflecting the diverse nature of the market and the impact of company-specific factors on stock movements.
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