After hours trading saw significant movements across various companies, with notable performances that captured investor attention.
Arm Holdings experienced a sharp decline of 7% after initially gaining traction. The semiconductor firm provided guidance for its first quarter, projecting earnings of 40 cents per share, with revenue expectations set at $1.26 billion. Despite these figures slightly surpassing FactSet estimates—37 cents per share and $1.25 billion in revenue—investors reacted negatively to the overall outlook.
In contrast, DoorDash shares surged by 12% as the food delivery giant reported optimistic guidance for the second quarter. DoorDash anticipates marketplace gross order value between $32.4 billion and $33.4 billion, comfortably above analysts’ expectations of $32.43 billion. The company also reported first-quarter earnings of 42 cents per share, exceeding the 36 cents anticipated by analysts.
Zillow Group, a key player in the real estate marketplace, faced a 6% dip in shares after reporting first-quarter residential revenue of $450 million, falling short of StreetAccount’s estimate of $454.2 million. Nevertheless, Zillow surpassed consensus estimates on both earnings and revenue for the quarter.
Fortinet, a cybersecurity company, saw its stock price soar by 17% as it raised its full-year billings guidance to a range of $8.8 billion to $9.1 billion, an increase from its previous forecast of $8.4 billion to $8.6 billion. Both its earnings and revenue guidance also exceeded consensus estimates.
Flutter Entertainment, the sports betting and gambling company, experienced a nearly 3% gain following a report of first-quarter adjusted earnings of $1.22 per share, beating analyst expectations of $1.20. Revenue for the quarter, reported at $4.30 billion, slightly exceeded the $4.29 billion consensus forecast.
Coherent, a photonics stock, saw its shares drop by 8%, although it reported third-quarter adjusted earnings of $1.41 per share, narrowly outperforming the consensus of $1.40 per share. The decline came after the company provided fourth-quarter guidance on adjusted gross margin that aligned with analysts’ forecasts.
IonQ shares declined by more than 6%, as the quantum computing company announced adjusted losses before interest, taxes, depreciation, and amortization of $96.8 million for the first quarter. This figure surpassed analysts’ predictions of a loss of $80.4 million.
Snap, the social media platform, saw its stock decline by 7% after issuing cautious sales guidance for the second quarter, estimating between $1.52 billion and $1.55 billion—aligning closely with analysts’ expectations of $1.54 billion. Additionally, Snap announced it no longer holds a deal with Perplexity, a generative artificial intelligence startup.
Whirlpool, known for its household appliances, experienced a steep decline of 16% after drastically cutting its guidance for the full year. The company now expects adjusted earnings of $3 to $3.50 per share, down from a previous estimate of $6 per share, alongside a revenue forecast revised to about $15 billion.
Fastly faced a staggering 25% plummet as its future guidance disappointed investors, projecting second-quarter earnings between 5 cents and 8 cents per share, while revenue is expected between $170 million and $176 million, both figures narrowly missing Wall Street expectations. However, the company did report first-quarter results that outperformed estimates.
Albemarle, a specialty chemical producer, saw its shares climb nearly 4% after reporting first-quarter adjusted earnings of $2.95 per share, significantly surpassing the $1.19 expected by analysts. Revenue also beat forecasts at $1.43 billion, compared to the anticipated $1.34 billion.
Meanwhile, Akamai Technologies experienced a near 7% decline in shares ahead of its earnings report scheduled for Thursday. Despite recent gains that led the stock to achieve a new 52-week high, investors remain cautious leading into the anticipated results.
