Stocks making the biggest moves after hours: Apple, Starbucks and more

Market Insider

Check out the companies making headlines after the bell:

Apple shares fell nearly 5 percent in after-hours trading despite releasing its fiscal fourth-quarter earnings report that beat expectations on the top and bottom lines. The company reported earnings of $2.91 per share compared to the $2.78 per share analysts expected. Apple reported $62.9 billion in revenue for the quarter, while Wall Street estimated $61.57 billion in revenue.

Apple sold less of its flagship iPhones during the quarter than analysts expected, but at a higher selling price than estimated, according to FactSet and StreetAccount estimates.

Starbucks shares jumped 9 percent in after-hours trading after the company released its quarterly earnings report that beat revenue and earnings estimates. The coffee giant reported earnings of 62 cents per share, higher than analysts’ estimate of 60 cents per share. The company reported $6.3 billion in revenue for the quarter, while analysts expected $6.27 billion.

Same-store sales growth at Starbucks also beat expectations, rising 3 percent compared to the 2.3 percent estimated by analysts.

Weight Watchers shares plunged more than 13 percent in the extended session after the company missed expectations in its third-quarter earnings report. The company, which was recently rebranded as simply WW, reported earnings of 94 cents per share, below analysts’ estimate of 99 cents per share. Revenue also missed estimates, with the company reporting $366 million for the quarter compared to the $379 million Wall Street expected.

Kraft Heinz stock fell 9 percent in the extended session after the company released a mixed earnings report. The company reported earnings of 78 cents per share, lower than the 81 cents per share Wall Street estimated. However, the company beat revenue expectations, reporting $6.38 billion in revenue for the third quarter compared to the $6.31 billion analysts estimated.

Caesars Entertainment shares jumped 9 percent after the company announced that CEO Mark Frissora is stepping down. Frissora served as CEO for 3 years, guiding the company through its bankruptcy restructuring process that it emerged from in 2017. Caesars also released its third-quarter earnings report that beat earnings estimates but slightly missed revenue expectations.

Shake Shack shares fell 6 percent in after-hours trading despite releasing a strong third-quarter earnings report. The company reported earnings of 21 cents per share, higher than the 13 cents per share analysts expected. Revenue also beat expectations, with the company reporting $119.6 million for the third quarter compared to the $117 million Wall Street estimated.

However, same-store sales at the fast food chain were down 0.7 percent, while analysts expected an increase of 1.1 percent.

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