adminCheck out the companies making headlines in extended trading. SolarEdge — The solar stock cratered 23% after SolarEdge posted a dismal third-quarter report and outlook for the current quarter’s revenue. SolarEdge lost 55 cents per share, excluding items, while analysts polled by LSEG, formerly known as Refinitiv, forecast a gain of 89 cents per share. Revenue also underwhelmed in the quarter, with the company posting $725 million against a $768 million consensus estimate. The company guided revenue for the current quarter to between $300 million and $350 million, well under the $688 million anticipated by analysts. Qualcomm — Shares of the wireless tech company jumped 3.6%. Qualcomm surpassed analysts’ estimates in its fiscal fourth quarter, reporting adjusted earnings of $2.02 per share on revenue of $8.67 billion. Analysts polled by LSEG anticipated earnings of $1.91 per share and revenue of $8.51 billion. Etsy — The online marketplace’s shares tumbled 3%. CEO Josh Silverman warned of a challenging outlook for discretionary spending, saying “this volatile macro climate will make it challenging for us to grow this quarter.” Etsy beat analysts’ estimates for earnings in the third quarter but fell short of Wall Street’s expectations on revenue. Electronic Arts — The gaming stock climbed 3.5% after beating analysts’ consensus forecasts for net bookings in the fiscal second quarter. Electronic Arts also issued guidance for the current quarter and full year that was largely in line with expectations. Roku — Shares of the streaming video company jumped 16% after Roku’s third-quarter revenue topped expectations. The company generated $912 million of revenue, compared to the $855 million predicted by Wall Street analysts, according to LSEG. Roku’s fourth-quarter guidance for revenue and a key profitability metric also topped expectations, according to Street Account. DoorDash — The food delivery stock popped 7% in extended trading. DoorDash reported a loss of 19 cents per share on revenue of $2.16 billion. Analysts polled by LSEG called for a 40 cent loss per share and revenue of $2.09 billion. Tandem Diabetes Care — The insulin company sank 18% postmarket after reporting a third-quarter loss per share of 51 cents, wider than analysts’ estimated loss of 48 cents, according to FactSet. Revenue of $185.6 million also missed an estimate of $192.9 million. Full-year revenue guidance of $765 million was $20 million below the prior forecast and missed analysts’ consensus of $788 million. e.l.f. Beauty — The cosmetics stock popped 5% after surpassing Street expectations and raising its full-year guidance for the second quarter in a row. For the second fiscal quarter, the company posted 82 cents in adjusted earnings per share and $215.5 million in revenue, while analysts surveyed by LSEG had forecast 53 cents on revenue of $197.1 million. Airbnb — The vacation rental platform fell almost 3% after saying fourth-quarter revenue will total $2.13 billion to $2.17 billion, versus a consensus FactSet analysts’ estimate of $2.18 billion, and fourth-quarter nights booked will moderate compared to the prior three-month period. Clorox — Shares of the consumer goods giant jumped 7%. Clorox posted fiscal first-quarter revenue of $1.39 billion, while analysts called for estimates of $1.31 billion. Zillow Group — Shares slid 3% after the real estate brand parent said the number of average monthly unique users and visits were both down in the third quarter compared to the same three-month period a year prior. That overshadowed an earnings report that otherwise exceeded analysts’ expectations for the quarter. Mondelez International — The snack maker traded 3% higher after beating expectations for the third quarter and raising full-year guidance. The company known for Oreo and Ritz reported 82 cents per share in earnings, excluding items, on $9.03 billion in revenue. Analysts surveyed by LSEG expected 79 cents in earnings per share and revenue at $8.83 billion. Sarepta Therapeutics — The biopharmaceutical stock advanced 1.6% after notably outperforming Wall Street expectations in the third quarter. Sarepta said it lost 46 cents per share and saw a revenue of $331.8 million. Meanwhile, analysts polled by FactSet anticipated a much larger loss of $1.22 per share on revenue of $285.3 million. — CNBC’s Darla Mercado, Sarah Min, Jesse Pound and Scott Schnipper contributed reporting.
Read the full article here
