Stocks making the biggest moves after hours: Starbucks, LendingClub, F5, Qorvo and more
Check out the companies making headlines in extended trading: Starbucks — The coffee chain gained more than 2% after better-than-expected quarterly results. Starbucks notched fiscal first-quarter earnings of 69 cents per share on revenue of $9.40 billion, while analysts polled by LSEG were looking for 67 cents in earnings per share and $9.31 billion in revenue. Same-store sales declined for the fourth consecutive quarter, however. F5 — The application security company surged 12% after the firm issued a better-than-expected revenue outlook for the second quarter. F5 forecasts revenue in the current quarter to be in the range between $705 million and $725 million, while analysts polled by FactSet were expecting $702.7 million. Qorvo — The semiconductor company gained 12% on the heels of an upbeat fourth-quarter outlook. Qorvo expects revenue in the current quarter of $850 million, compared to a forecast of $841 million from analysts polled by LSEG. The company’s adjusted earnings per share forecast of $1 was also above estimates that called for 86 cents per share. Nextracker — Shares gained 13%. The solar tracker manufacturer issued rosy full-year earnings guidance following better-than-expected third-quarter results. Nextracker expects full-year adjusted earnings per share in the range of $3.75 to $3.95, compared to prior guidance that called for $3.10 to $3.30 per share, and estimates from analysts polled by FactSet that forecast $3.27 per share. LendingClub — The financial services company pulled back more than 17% after LendingClub’s provisions for credit losses came in higher than analysts’ forecasts in the fourth quarter. LendingClub’s loan provisions of $63.2 million in the most-recent quarter surpassed the consensus estimate of $51.4 million from FactSet.
