5 Stocks Making Big After-Hours Moves After Earnings
Earnings season has been winding down this week, but there are always some companies still reporting or offering guidance. 24/7 Wall St. has tracked 5 stocks on the move after reporting their earnings on Wednesday.
As a reminder, after-hours trading can be very volatile and far less liquid than during normal trading hours. The after-hours share prices after conference calls and analyst reports can sometimes create key reversals or big changes during the following day’s trading session.
We have included some color and trading history on these companies. Consensus data is from Refinitiv. Here are the 5 big after-hours earnings movers for Wednesday, August 26, 2020.
Box, Inc. (NYSE: BOX) closed up almost 7% at $19.29 on Wednesday, but the shares went up another 8.5% to $20.94 after the cloud storage provider reported earnings of $0.18 per share. This was far better than the $0.12 EPS expected and Box lifted its revenue and earnings expectations as the company is now looking to larger businesses in need of more storage services. Box has a 52-week high of $22.09 and its consensus analyst target price was $24.17 ahead of the news.
Lannett Company, Inc. (NYSE: LCI) looked to be one of the biggest after-hours loser on Wednesday. The maker and distributor of generic versions of brand pharmaceuticals posted sales of $138 Million and that exceeded its own expectations, but Lannett also indicated that it recorded asset impairment charges of $18.8 million and that its net loss of $9.7 million came to -$0.25 EPS. Lannett closed down 2.1% at $6.05 and was trading down over 4% at $5.79 after the close, but its market cap was just $244 million at the close.
NetApp, Inc. (NASDAQ: NTAP) saw its shares surge in Wednesday’s after-hours session as the data storage and cloud outfit reported earnings. NetApp posted $0.73 EPS from $0.65 a year ago, handily beating the $0.41 EPS consensus. Sales also rose rather than declined and guidance was strong enough to make it the top after-hours earnings mover. NetApp was last seen up 10.1% at $46.50 after closing up 1% at $42.21. Its 52-week high is all the way up at $65.38 and the consensus analyst target price was $47.21. NetApp traded over 5 million shares on the day but about 1 million shares had traded hands after the report.
Splunk Inc. (NASDAQ: SPLK) closed up over 6% at $216.74 with continued excitement around business intelligence software. Unfortunately, Spunk reported a 5% drop in revenues despite meeting earnings expectations. Splunk was last seen trading down almost 3% at $211.00 on more than 500,000 shares. Its $492 million in revenues was about $30 million short of expectations.
Williams-Sonoma, Inc. (NYSE: WSM) was expected to do well considering its blow-out quarter about 90 days ago. The home furnishings and kitchen supplies retailer closed up 3.8% at $98.96, but the Wednesday after-hours trading had its stock down 5% at $93.95. Williams-Sonoma reported $1.80 EPS and $1.49 billion in revenues of $1.49 billion, which was seen as a large earnings beat but revenues were barely above expectations.
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