Top Companies Experience Volatility in After-Hours Trading
Several major companies saw significant shifts in their stock prices during after-hours trading, with Wynn Resorts, Illumina, Synaptics, TKO Group Holdings, Unity Software, The Trade Desk, and Capri Holdings all making headlines.
Wynn Resorts shares dropped by 6% following the release of the casino operator’s third-quarter earnings. While the company surpassed analysts’ expectations on both top and bottom lines, it reported a decline in revenue from the previous year, specifically at its Encore Boston Harbor location.
Biotechnology company Illumina experienced a stock drop of over 7% after cutting its adjusted earnings guidance for the full year. The company’s adjusted earnings per share in the third quarter exceeded expectations, but its revenues fell short.
On the other hand, shares of Synaptics rallied by more than 10% after the company’s fiscal first-quarter earnings and revenue surpassed Wall Street’s expectations.
Wrestling media company TKO Group Holdings saw its shares fall by more than 5% after Vince McMahon announced plans to sell a substantial portion of his stake in the company.
Video game software company Unity Software experienced a decline of nearly 14% after its third-quarter revenue missed expectations. The company also refrained from providing forward guidance.
The Trade Desk faced a substantial drop of nearly 30% on weak guidance for the current quarter, despite posting adjusted earnings and revenue above analysts’ estimates in the third quarter.
Luxury fashion group Capri Holdings saw its shares fall by 2% following mixed results from the fiscal second quarter. The company’s CEO cited macroeconomic headwinds and challenges related to e-commerce implementation as reasons for the results falling below expectations.
These shifts in stock prices highlight the volatility and uncertainty facing companies in various sectors, as they navigate the ongoing challenges posed by the current economic climate.
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