Stock market traders are already looking to the next day of trading, and the biggest after-hours movers from Monday include energy company Westport Innovations, online travel agency Orbitz Worldwide and homebuilder KB Home. Let’s take a closer look at which stocks are making the biggest moves right now… Here’s what investors need to know before the opening bell rings in New York. (Source: Stocks making the biggest moves after hours: Snap, CSX, Whirlpool and more, CNBC, February 6, 2018.)
After the bell, Snap’s revenue came in somewhat lower than anticipated, and the social media company’s shares fell by 25%. Additionally, the fourth quarter’s revenue was forecast to decline. The number of daily active users worldwide exceeded expectations. The business’s third-quarter sales increased by nearly 6% from the previous quarter. Alpha and Meta 4.7% and 2.6%, respectively, also fell.
CSX
- Following the release of its third-quarter results, which showed improved top and bottom lines, the transportation business is up 4.3% on the stock market. On $3.90 billion in sales, CSX reported adjusted profits per share of 52 cents. According to Refinitiv, analysts expected a profit per share of 49 cents on a $3.74 billion revenue.
After its results announcement, shares of Robert Half International are down 7.7%. The employment agency reported per-share profits of $1.53 on sales of $1.83 billion, falling short of estimates on both the top and bottom lines. According to StreetAccount, analysts had projected earnings of $1.62 per share on a $1.92 billion revenue.
Whirlpool – Shares fell 4.8% after the business revealed after the bell that its third-quarter net sales fell and that short-term headwinds had a negative impact on its bottom line. The firm reported $4.49 in adjusted profits per share on $4.78 billion in revenue, below estimates on both the top and bottom lines.
Financial SVB – After the bank reported results for the third quarter that above expectations, its shares fell by 12.5%. SVB’s earnings per share came in at $7.21 vs analysts’ forecasts of $7.09 for the company. Greg Becker, president and chief executive officer of SVB Financial Group, stated, “We continue to observe strength and momentum in our core business, despite continuous market problems hurting cash flows to private firms, increasing rates, and fear of recession.”
Tenet Healthcare: Following the release of the company’s quarterly earnings, shares fell 14%. Refinitiv said that adjusted per-share earnings came in at $1.44 vs analysts’ forecasts of $1.24. The $4.81 billion in revenues matched expectations. The firm reduced its sales and earnings per share outlook for the fourth quarter. Tenet also disclosed a $1 billion share repurchase plan.
