Monday, March 20, 2023

Stocks making the biggest moves after hours: Disney, Mattel, Wynn Resorts, Affirm and more

Barbie dolls within the Mattel show on the annual Toy Fair in New York.

Stan Honda | AFP | Getty Images

Check out the businesses making headlines in prolonged buying and selling.

Disney — Shares of the leisure firm rose greater than 6% after the corporate launched its fiscal first-quarter earnings report. Disney reported a smaller-than-expected drop in subscribers, in addition to a beat on the highest and backside traces. CEO Bob Iger, who returned to the corporate in November, additionally introduced Disney would be slashing 7,000 jobs as a part of a cost-cutting and reorganization plan.

Mattel — Shares tumbled 10% after the corporate mentioned customers purchased fewer toys this vacation season as greater costs for meals and different requirements led to tighter budgets. Fourth-quarter gross sales fell 22% from the prior 12 months. Revenue and earnings have been each beneath analysts’ estimates, based on Refinitiv.

Robinhood — Shares rose 5% after Robinhood missed income expectations in its newest earnings report. The agency reported $380 million in income, decrease than forecasts of $397 million, based on consensus estimates from Refinitiv. In addition, Robinhood mentioned it will purchase again Sam Bankman-Fried’s stake within the firm. FTX’s Bankman-Fried disclosed in May that he purchased a 7.6% stake in Robinhood.

Affirm — The purchase now, pay later finance firm slumped about 17% in prolonged buying and selling as fiscal second-quarter earnings and income missed analysts’ estimates, based on Refinitiv. CEO and founder Max Levchin additionally introduced layoffs equal to 19% of the workforce efficient instantly.

Ceridian — The software program firm acquired a 6.5% enhance in its shares in prolonged buying and selling after it posted earnings, excluding objects, that just about doubled analysts’ expectations and reported better-than-expected income, based on FactSet. Guidance for the primary quarter additionally got here in additional upbeat than analysts’ forecast.

Lincoln National — The life insurance coverage firm slipped 2.5% in after-hours buying and selling after it issued fourth-quarter outcomes that got here beneath Wall Street’s expectations. Lincoln National posted earnings of 97 cents per share on income of $4.2 billion. Analysts referred to as for per-share earnings of $1.83 on income of $4.59 billion, based on FactSet.

Wynn Resorts — The resort and on line casino operator’s shares rose 3%. Although the corporate reported $1 billion in income for the most recent quarter, in comparison with analysts’ expectations of $958 million, based on Refinitiv. It additionally reported an adjusted lack of $1.23 per share.

MGM Resorts — Shares of the on line casino inventory ticked up 2%. MGM beat analysts’ estimates on fourth-quarter income, posting $3.59 billion in comparison with the $3.35 billion anticipated by Wall Street, based on Refinitiv. However, the corporate posted a wider-than-expected lack of $1.53 per share, versus the $1.36 loss per share predicted by analysts.

— CNBC’s Darla Mercado, Christina Cheddar-Berk, Scott Schnipper, Hakyung Kim and Sarah Min contributed reporting.

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