A runner jogs past the Cisco Systems headquarters in San Jose, California, on February 8, 2021.
David Paul Morris | Bloomberg | Getty Images
Discover the companies making waves in after-hours trading.
Cisco Systems – The computer networking giant’s stock rose by approximately 2.5% after exceeding Wall Street’s expectations with its fiscal fourth-quarter earnings report. Cisco Systems posted adjusted earnings of $1.14 per share, surpassing analysts’ forecast of $1.06 per share from Refinitiv. Revenue also exceeded expectations, reaching $15.2 billion compared to the estimated $15.05 billion.
Synopsys – The stock of this electronic design automation company advanced by 2.3% after beating fiscal third-quarter earnings expectations. Synopsys reported adjusted earnings of $2.88 per share, which exceeded analysts’ expectations by 14 cents per share according to Refinitiv. The company’s revenue of $1.49 billion also exceeded expectations. Additionally, Synopsys announced Sassine Ghazi as its CEO and president, effective January 1.
Wolfspeed – The company’s shares plummeted by 13% after hours following Wolfspeed’s fiscal fourth-quarter earnings report, which failed to meet expectations on the bottom line. Wolfspeed reported an adjusted loss of 42 cents per share, while analysts had predicted a loss of 20 cents per share. However, the company’s revenue of $236 million surpassed analysts’ expectations of $223 million according to Refinitiv.
Amcor – The packaging company’s stock increased by 2.5% after the market closed. Amcor, which reached its 52-week trading low on Wednesday, reported adjusted earnings per share of $0.19 for its fiscal fourth quarter. This exceeded the forecast of $0.18 from analysts surveyed by FactSet. However, Amcor fell short of revenue expectations, reporting $3.67 billion compared to the estimated $3.79 billion.
Hawaiian Electric Industries – Hawaiian Electric’s shares fell by nearly 2% after hours on Wednesday following a report in The Wall Street Journal stating that the company is in discussions with restructuring firms. The stock has faced losses of approximately 55% this week due to ongoing concerns about the company’s potential liability in the deadly Maui wildfires.
VinFast Auto – Shares of the Vietnamese electric vehicle maker dropped by about 5%. The stock surged over 250% on Tuesday after VinFast went public through a SPAC deal, but it experienced a reversal on Wednesday, declining by 18.7%.
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