Stocks making the biggest moves after hours: Cisco Systems, Synopsys, Wolfspeed and more

Stock Market

A runner jogs past the Cisco Systems headquarters in San Jose, California, Feb. 8, 2021.
David Paul Morris | Bloomberg | Getty Images

Check out the companies making headlines in extended trading.

Cisco Systems — Shares of the computer networking giant gained about 2.5% after posting fiscal fourth-quarter earnings that beat Wall Street’s expectations. The company posted adjusted earnings of $1.14 per share, while analysts had forecast $1.06 per share, according to Refinitiv. Revenue came out to $15.2 billion, exceeding expectations of $15.05 billion.

Synopsys — The stock advanced 2.3% after the electronic design automation company beat fiscal third-quarter earnings expectations. Synopsys reported adjusted earnings of $2.88 per share, which was 14 cents per share higher than analysts’ expectations, according to Refinitiv. Its revenue of $1.49 billion also came out just above expectations. The California-based company on Wednesday also announced Sassine Ghazi as its CEO and president, effective Jan. 1.

Wolfspeed — Shares plunged 13% after hours following Wolfspeed’s fiscal fourth-quarter earnings report, which missed expectations on the bottom line. The company posted an adjusted loss of 42 cents per share, while analysts called for a loss of 20 cents per share. Wolfspeed reported $236 million in revenue, however, surpassing analysts’ expectations of $223 million, according to Refinitiv.

Amcor — The packaging stock added 2.5% after the closing bell. Amcor, which hit its 52-week trading low Wednesday, reported adjusted earnings per share of $0.19 for its fiscal fourth quarter. That exceeded the $0.18 forecast from analysts surveyed by FactSet. Amcor’s revenue failed to meet expectations, however, coming at $3.67 billion while analysts had forecast $3.79 billion.

Hawaiian Electric Industries — Shares of Hawaiian Electric slipped nearly 2% after hours Wednesday. The action followed a report in The Wall Street Journal that said the company is in talks with firms that specialize in restructuring. The stock’s losses, now about 55% this week, continued amid Wall Street’s ongoing concerns about the company’s potential liability in the deadly Maui wildfires. 

VinFast Auto — Shares of the Vietnamese electric vehicle maker fell about 5%. Its shares jumped more than 250% Tuesday after VinFast went public through a SPAC deal, but the stock gave back some of those gains Wednesday and dipped 18.7%.

Articles You May Like

Warren Buffett’s letter is a mass of contradictions on climate risk
Louisiana preps $1.3 billion of PABs for bridge public private partnership
House of Commons descends into chaos over Gaza vote
Reddit will let users buy its IPO, but warns that they could make the stock riskier
Warren Buffett calls the late Charlie Munger ‘part older brother, part loving father’ in heartfelt tribute