Barbie dolls in the Mattel display at the annual Toy Fair in New York.
Stan Honda | AFP | Getty Images
Check out the companies making headlines in extended trading.
Disney — Shares of the entertainment company rose more than 6% after the company released its fiscal first-quarter earnings report. Disney reported a smaller-than-expected drop in subscribers, as well as a beat on the top and bottom lines. CEO Bob Iger, who returned to the company in November, also announced Disney would be slashing 7,000 jobs as part of a cost-cutting and reorganization plan.
Mattel — Shares tumbled 10% after the company said shoppers bought fewer toys this holiday season as higher prices for food and other necessities led to tighter budgets. Fourth-quarter sales fell 22% from the prior year. Revenue and earnings were both below analysts’ estimates, according to Refinitiv.
Robinhood — Shares rose 5% after Robinhood missed revenue expectations in its latest earnings report. The firm reported $380 million in revenue, lower than forecasts of $397 million, according to consensus estimates from Refinitiv. In addition, Robinhood said it would buy back Sam Bankman-Fried’s stake in the company. FTX’s Bankman-Fried disclosed in May that he purchased a 7.6% stake in Robinhood.
Affirm — The buy now, pay later finance company slumped about 17% in extended trading as fiscal second-quarter earnings and revenue missed analysts’ estimates, according to Refinitiv. CEO and founder Max Levchin also announced layoffs equal to 19% of the workforce effective immediately.
Ceridian — The software company got a 6.5% boost in its shares in extended trading after it posted earnings, excluding items, that almost doubled analysts’ expectations and reported better-than-expected revenue, according to FactSet. Guidance for the first quarter also came in more upbeat than analysts’ forecast.
Lincoln National — The life insurance company slipped 2.5% in after-hours trading after it issued fourth-quarter results that came below Wall Street’s expectations. Lincoln National posted earnings of 97 cents per share on revenue of $4.2 billion. Analysts called for per-share earnings of $1.83 on revenue of $4.59 billion, according to FactSet.
Wynn Resorts — The hotel and casino operator’s shares rose 3%. Although the company reported $1 billion in revenue for the latest quarter, compared to analysts’ expectations of $958 million, according to Refinitiv. It also reported an adjusted loss of $1.23 per share.
MGM Resorts — Shares of the casino stock ticked up 2%. MGM beat analysts’ estimates on fourth-quarter revenue, posting $3.59 billion compared to the $3.35 billion expected by Wall Street, according to Refinitiv. However, the company posted a wider-than-expected loss 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.
Be the first to comment