Stocks making the biggest moves after hours: Cadence Design Systems, Whirlpool, Nucor and more
Check out the companies making headlines in after-hours trading. Cadence Design Systems – Shares of the computer software company jumped more than 6% after its latest quarterly results beat on the top and bottom lines. For the second quarter, Cadence reported adjusted earnings of $1.65 per share on revenue of $1.28 billion, above the $1.55 per share and $1.25 billion in revenue that analysts surveyed by LSEG were expecting. The company also posted upbeat full-year guidance. Nucor – Shares of the steel producer dropped more than 4% after its earnings and revenue for the second quarter missed Wall Street’s estimates. Nucor posted adjusted earnings of $2.60 per share on $8.46 billion in revenue, while analysts were looking for $2.66 per share and $8.54 billion in revenue, according to LSEG. The company also said that it anticipates its third-quarter earnings to be ” nominally lower ” than this year’s second quarter, citing “decreased earnings in the steel mills segment and similar earnings in the steel products and raw materials segments.” Whirlpool – The home appliance stock plummeted about 13% following the company’s disappointing second-quarter results. Whirlpool reported adjusted earnings of $1.34 per share for the quarter, missing the consensus estimate of $1.74 per share, per LSEG. The company’s revenue of $3.77 billion also came up short, missing the $3.88 billion analysts had penciled in. Whirlpool’s guidance for full-year adjusted earnings also missed the mark. Western Union – Shares fell more than 3% on the heels of the financial services company posting weaker-than-expected quarterly results. Western Union saw its second-quarter adjusted earnings of 42 cents per share miss the 44 cents per share that analysts polled by FactSet were looking for. Its revenue of $1.03 billion also missed the consensus estimate of $1.04 billion. Western Union also cut its outlook for the full year. Rambus – The semiconductor company’s stock surged more than 5%. Rambus posted second-quarter earnings of 53 cents per share, more than 60% higher compared to the year-ago period. The company’s revenue was also better than the previous year’s second quarter, with its $172.2 million in revenue marking a more than 30% increase from the prior year. Tilray Brands – The cannabis consumer products company rose more than 2% after Tilray’s earnings for the fiscal fourth quarter surpassed analyst expectations. Tilray reported earnings of 2 cents per share, above the 2-cent per share loss that analysts were expecting, per FactSet. The company’s revenue of $224.5 million, however, came in below the consensus estimate of $232.2 million.
