Stocks making the biggest moves after hours: Netflix, Mattel, DraftKings, Intuitive Surgical & more
Check out the companies making headlines in after-hours trading. Netflix — The streamer dropped more than 4% after it missed Wall Street’s earnings estimates . For the third quarter, Netflix reported adjusted earnings of $5.87 per share. Analysts polled by LSEG expected $6.97 per share in profit. The company’s revenue of $11.51 billion for the period matched analysts’ estimates. Netflix attributed its weaker-than-forecasted results to an ongoing dispute with Brazilian tax authorities. Western Alliance — The regional bank gained more than 3% on better-than-expected earnings for the third quarter. Western Alliance earned $2.28 per share on revenue of $938 million. Analysts polled by LSEG expected a profit of $2.09 per share on revenue of $890 million. Loss provisions did come in at $80 million, above a StreetAccount estimate of $42 million. DraftKings — The gambling stock jumped about 6.7% after DraftKings said it is acquiring predictions platform Railbird . Texas Instruments — The chipmaker dropped more than 5% on disappointing earnings and weak quarterly guidance. The company earned $1.48 per share, missing an LSEG estimate of $1.49 per share. Fourth-quarter profit guidance came in a range of $1.13-$1.39 per share, below the consensus of $1.41 per share. Beyond Meat — Shares of the food company rose more than 10% in after-hours trading, extending its 146% pop on Tuesday. Beyond Meat shares surged in regular trading after the company announced a deal with Walmart to expand distribution of its products across more U.S. stores. The stock also skyrocketed Monday when Roundhill Investments, which develops thematic exchange traded funds, added the company to its Roundhill Meme Stock ETF. The ETF addition appears to have led to a short squeeze, with investors who bet against the stock forced to cover their positions. Intuitive Surgical — The company, which makes robotic-assisted surgery systems, popped nearly 22%. Intuitive Surgical reported third-quarter results that beat expectations. Adjusted earnings per share came in at $2.40 on revenue of $2.51 billion. Analysts polled by LSEG expected earnings per share of $1.98 on $2.4 billion in revenue. Mattel — The toy maker dropped 7% after it reported weaker-than-expected results for the third quarter. Mattel posted adjusted earnings of 89 cents per share on $1.74 billion in revenue. Analysts surveyed by LSEG had called for $1.07 in earnings per share and $1.83 billion in revenue. Pegasystems — The software stock popped about 7% on the heels of the company’s third-quarter results topping Wall Street’s estimates. Pegasystems reported 30 cents per share in adjusted earnings, above the 20 cents per share the analysts surveyed by LSEG were looking for. The company’s revenue of $381 million also beat the consensus estimate of $345 million. Capital One — Shares of the financial services company rose 3% on the back of a strong earnings beat. Capital One reported earnings of $5.95 per share on revenue of $15.36 billion. Analysts, meanwhile, expected earnings of $4.37 per share and revenue of $15.08 billion, per LSEG. — Fred Imbert, Sean Conlon Liz Napolitano contributed to this story.
