After the bell, several companies made headlines with their performance in the stock market. Nvidia saw a 4% increase in its stock price after announcing a 10-for-1 stock split. The chipmaker also beat Wall Street’s fiscal first-quarter estimates on both the top and bottom lines, and issued strong guidance for the current quarter. This positive news also led to a rise in related stocks such as Super Micro Computer and Advanced Micro Devices. Meanwhile, Snowflake, a cloud-computing company, jumped more than 5% after reporting fiscal first-quarter revenue that surpassed expectations but adjusted earnings that fell short of consensus forecasts by 4 cents. VF Corp, an apparel and footwear company, saw its stock sink 9% after posting an unexpected loss for the recent quarter and revenue that was lower than Wall Street’s estimates.
E.l.f. Beauty, a cosmetics company, slid 2% after reporting full-year guidance that was weaker than anticipated by analysts. The company expects net sales to range between $1.23 billion and $1.25 billion, falling below the anticipated $1.27 billion. Synopsys, an electronic design automation company, saw its stock slip over 1% as it fell short of Wall Street estimates on the top and bottom lines in the fiscal second quarter. LiveRamp Holdings, an advertising technology company, experienced a nearly 12% increase in its stock price after surpassing analysts’ estimates in its fiscal fourth-quarter results and issuing strong guidance for the current quarter and full year. News Corp, the owner of Dow Jones and The Wall Street Journal, climbed 4% after signing a multiyear agreement to make its news content available on OpenAI. Cytokinetics, a biopharmaceutical company, saw shares tumble 12% following the announcement of a $500 million common stock offering. DuPont de Nemours shares rose about 5% after the company announced plans to divide into three separate businesses and CEO Ed Breen’s decision to step down on June 1.
Overall, the post-market performance of these companies varied, with some experiencing significant increases in their stock prices while others faced declines. Positive news such as better-than-expected revenue and strong guidance for future quarters boosted the stock prices of companies like Nvidia and LiveRamp Holdings. On the other hand, companies like VF Corp and E.l.f. Beauty faced stock declines due to unexpected losses and weaker-than-expected guidance. Additionally, announcements such as DuPont de Nemours’ restructuring and Cytokinetics’ stock offering had significant impacts on their stock prices as well. Investors will be closely monitoring these companies as they navigate through the current market conditions and work towards their future goals and objectives.
