Stocks with the biggest changes after business hours: MU, PTON, JEF
Micron Technology Inc. in Shanghai on April 6, 2023. office.
Chilai Sun | Bloomberg | getty images
See which companies are making headlines in expansion deals.
micron technology — Chip shares fell 4% in extended trading after Micron gave weaker-than-expected revenue guidance for the current quarter. Micron said it expects a loss of $1.07 per share, while analysts polled by LSEG, formerly known as Refinitiv, had expected a loss of 95 cents. Elsewhere, the company not only posted a smaller-than-expected loss in its fiscal fourth quarter, but also reported revenue ahead of expectations. Revenue guidance for the quarter is also higher than analysts expected.
Peloton Interactive — The stationary bike maker surged 13% after news of a five-year partnership to develop content. lululemon. Meanwhile, Lululemon added nearly 1% in extended deals.
Jeffries Financial — The bank retreated 3% after reporting fiscal third-quarter earnings of 22 cents per share on revenue of $1.18 billion, down from a year ago. Jefferies said this quarter’s earnings were impacted by pre-tax losses in the company’s existing commercial finance portfolio.
HB Fuller — The chemical company fell about 1% after a weak third-quarter financial report. HB Fuller reported pre-item earnings per share of $1.06 on revenue of $906 million, while analysts polled by FactSet had expected earnings per share of $1.14 on revenue of $954 million.
Duckhorn Portfolio — The fine wine producer lost 2.8% after giving worse full-year guidance than analysts expected. Duckhorn said full-year earnings, excluding items, would be between 67 cents and 69 cents per share. The consensus estimate of analysts surveyed by FactSet was slightly higher, at 70 cents per share. The company said full-year revenue would be between $420 million and $430 million, less than analysts’ forecasts of $432.8 million. However, the company was able to beat expectations on both lines in its fiscal fourth quarter.