The Micron Technology Inc. offices in Shanghai on April 6, 2023.
Qilai Shen | Bloomberg | Getty Images
Discover the latest news from top companies in extended trading.
Micron Technology — The chip stock experienced a 4% drop in extended trading due to Micron’s lower-than-expected earnings guidance for the current quarter. While analysts polled by LSEG, formerly known as Refinitiv, projected 95 cents per share, Micron expects a loss of $1.07 per share. Nonetheless, the company outperformed expectations with a narrower-than-expected loss for the fiscal fourth quarter and higher revenue than forecasted. Furthermore, the current-quarter revenue guidance is also higher than analysts had anticipated.
Peloton Interactive — The stationary bike manufacturer’s stock surged 13% in after-hours trading following news of a five-year partnership with Lululemon to develop content. Lululemon also witnessed a marginal 1% increase in after-hours trading.
Jefferies Financial — The bank witnessed a decline of 3% after reporting fiscal third-quarter earnings of 22 cents per share, with revenue reaching $1.18 billion, down from the previous year. This quarter’s earnings were impacted by a pretax loss in Jefferies’ legacy merchant banking portfolio.
H.B. Fuller — The chemical company experienced a 1% decline after posting a weak financial report for the third quarter. H.B. Fuller reported a revenue of $900.6 million, with earnings per share, excluding items, amounting to $1.06. In contrast, analysts polled by FactSet predicted an earning of $1.14 per share on a revenue of $954 million.
Duckhorn Portfolio — The luxury wine producer saw a decline of 2.8% after providing full-year guidance that fell short of analysts’ expectations. Duckhorn projected full-year earnings of 67-69 cents per share, excluding items, while analysts forecasted 70 cents per share. Additionally, the company estimated full-year revenue between $420 million and $430 million, lower than the analysts’ prediction of $432.8 million. However, Duckhorn exceeded expectations in both revenue and earnings in its fiscal fourth quarter.
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