Stocks making the biggest moves after hours: Cisco, Ibotta, Coherent and more
Check out the companies making headlines in after-hours trading: Cisco — The tech stock pulled back almost 3% after its fourth-quarter results barely beat expectations. Cisco posted adjusted earnings of 99 cents per share on revenue of $14.67 billion in revenue, while analysts surveyed by LSEG were looking for a profit of 98 cents per share and $14.62 billion in revenue. The company’s guidance also just barely surpassed expectations. Cisco stock is up almost 19% year to date. Ibotta — The stock plunged more than 21% on the heels of the tech company’s second-quarter results missing expectations. Ibotta reported earnings of 8 cents per share, below the 19 cents per share that analysts had anticipated. The company also saw its revenue for the quarter come in at $86 million, while analysts had estimated $90.5 million. Its third-quarter revenue guidance also came in weaker than expected. Coherent — Shares of the semiconductor manufacturer plummeted more than 16%. The company earned $1.00 per share, excluding items, on revenue of $1.53 billion, above the profit of 91 cents per share and revenue of $1.51 billion that analysts had penciled in, according to LSEG. It also announced that it is selling its aerospace and defense business to Advent for $400 million. Bullish — Shares of the crypto exchange rose more than 3% in extended trading after Bullish’s first day of trading. The stock opened at $90 on the New York Stock Exchange, which was 143% above its $37 initial public offering price. Shares ended the day at $68, or a gain of almost 84%. — CNBC’s Christina Cheddar Berk contributed reporting.
