In the world of finance and technology, several companies have been making headlines in the extended trading session. Here is a roundup of some of the key developments:
Arista Networks, a leading provider of cloud networking solutions, saw its stock rise by 6% after the bell. The company reported earnings per share of $1.83, excluding items, on revenue of $1.51 billion. This surpassed analysts’ expectations, who had predicted earnings of $1.58 per share on revenue of $1.48 billion.
However, Lattice Semiconductor, a manufacturer of low-power programmable chips, experienced a decline of approximately 16% in late trading. The company’s fourth-quarter revenue forecast of $166 million to $186 million fell short of analysts’ consensus estimate of $195.7 million.
On the other hand, chipmaker Wolfspeed witnessed significant growth, with its shares surging more than 11% following the release of its fiscal first-quarter results. Despite reporting a loss of 53 cents per share, the figure was better than the expected 67 cents per share according to LSEG. However, its revenue fell short of estimates, coming in at $197 million compared to analysts’ forecast of $208 million.
Tenet Healthcare, a prominent health-care services company, saw its shares rise by 3% as it posted better-than-expected third-quarter earnings. The company reported adjusted earnings of $1.44 per share on revenue of $5.07 billion, surpassing the estimated $1.20 per share in earnings and revenue of $5.02 billion.
VF Corporation, the parent company of popular apparel and footwear brands such as The North Face, faced a setback as its stock tumbled by 6%. The company withdrew its previous full-year 2024 guidance for earnings and revenue, citing a challenging U.S. wholesale environment and a lack of anticipated improvement in the performance of its shoe brand, Vans, in the second half of fiscal 2024.
Meanwhile, Monolithic Power Systems, a semiconductor company, experienced a boost of 5% in its shares during extended trading. The company reported third-quarter adjusted earnings of $3.08 per share, slightly surpassing analysts’ expectations of $3.06 per share. Additionally, it provided fourth-quarter revenue guidance ranging between $442 million and $462 million, slightly below analysts’ forecast of $451.7 million.
Lastly, social media giant Pinterest had a remarkable performance, with its stock soaring by 13% after surpassing analysts’ expectations for the third quarter. The company reported adjusted earnings of 28 cents per share on revenue of $763 million, exceeding analysts’ forecasts of 20 cents per share and revenue of $744 million.
These developments highlight the various trajectories taken by different companies in the financial and technological sectors. It is essential to closely monitor these stocks and market trends to make informed investment decisions. Stay tuned for more updates.
Disclaimer: This article includes contributions from CNBC’s Darla Mercado and Scott Schnipper.
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