American clothing and accessories retailer American Eagle store seen in Tokyo. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)
Budrul Chukrut | SOPA Images | Light Rocket | Getty Images
Check out the companies making headlines after the bell.
American Eagle Outfitters — The clothing retailer’s stock was up 5% in extended trading after the company posted fourth-quarter financial results that beat analysts’ estimates. American Eagle reported revenue of $1.31 billion, while analysts polled by Refinitiv expected $1.27 billion. The company said it had earnings of 37 cents per share excluding some items, which was slightly above analysts’ estimates of 36 cents per share, according to Refinitiv. The retailer also offered guidance for the first quarter that was in line with analysts’ estimates. American Eagle said it expected earnings of 20 to 22 cents per share, while analysts polled by Refinitiv estimated 21 cents per share. “Our healthy brands and strong balance sheet position us well to compete in today’s market and we are excited to build upon our strengths and seize the many opportunities ahead,” Chairman and CEO Jay Schottenstein said in a statement.
Zoom Video — The video conferencing service’s stock dipped 4% in extended trading despite exceeding analysts’ expectations on both earnings and revenue in the fourth quarter. The company said it had earnings of 15 cents per share excluding some items on revenue of $188.3 million, while analysts polled by Refinitiv estimated earnings of 7 cents per share on revenue of $176.5 million. The company has done well in the midst of the coronavirus outbreak and seen record usage as more companies turn to remote meetings. “I had to shut down my phone, because, actually, almost everyone is calling us,” Zoom CEO Eric Yuan told CNBC last month.
Splunk — The software developer’s stock plunged as much as 15% in extended trading after the company offered weak guidance on revenue for the first fiscal quarter and full fiscal year of 2021. The share price soon returned near Wednesday’s $155.40 closing price. Splunk said it expects revenue of $450 million for the first fiscal quarter of 2021, while analysts estimated $526 million, according to Refinitiv. For the fiscal year, the company estimates revenue of $2.60 billion, while analysts polled by Refinitiv expected $2.88 billion. Splunk also missed earnings estimates in the fourth quarter. The company reported earnings of 96 cents per share excluding some items, while analysts expected 97 cents per share. However, the company beat on expectations for revenue. Splunk reported fourth-quarter revenue of $791 million, while analysts expected $783 million, according to Refinitiv.
Guidewire Software Inc — The software company’s stock sunk 12% in extended trading after Guidewire CEO Mike Rosenbaum said in a statement that “growing interest in cloud-based systems is dampening self-managed demand, impacting our full-year outlook.” The company offered weak guidance on earnings for the third quarter, estimating a loss of 41 cents per share. Analysts polled by Refinitiv expected a profit of 22 cents per share. However, the company did beat on earnings estimates for the second quarter, posting earnings of 21 cents per share, while analysts expected 13 cents per share, according to Refinitiv.
Marvell Technology Group — Shares of the semiconductor company saw its stock jump 10% in extended trading after the company posted a double beat on earnings and revenue in the fourth quarter. The company reported earnings of 17 cents per share excluding some items on revenues of $718 million, while analysts polled by Refinitiv expected 16 cents per share on revenue of $711 million. However, the company did say in a statement that guidance for the first quarter of fiscal 2021 includes a reduction in revenue of approximately 5% to reflect the impact of the coronavirus.