Stocks making the biggest moves after hours: Nucor, Waste Management, F5, NXP and more
Check out the companies making headlines in after-hours trading. Nucor — Shares of the steel products manufacturer added 3% after reporting strong results for the third quarter. Nucor said its earnings per share for the period was $2.63 per share, exceeding its earlier guidance that suggested earnings would be between $2.05 and $2.15 per share, per FactSet. Revenue for the third quarter came out at $8.52 billion, greater than analysts’ consensus expectation of $8.18 billion, according to FactSet. Nucor said it expects earnings from the current period to come out lower than those of the third quarter. F5 — Shares of the cybersecurity company dropped more than 6% after it issued disappointing guidance, anticipating “some near-term disruption to sales cycles” after the company had a system breach earlier this month caused by state-backed hackers from China. For the full year, F5 expects to post adjusted earnings of $14.50 to $15.50 per share and revenue growth of 0% to 4%, both of which are below the earnings of $16.25 per share and revenue growth of 4% that analysts surveyed by LSEG had estimated. Its first-quarter earnings and revenue forecast also came in softer than expected. However, the company did post an earnings and revenue beat for the fourth quarter. Cadence Design Systems — Shares of the electronic systems designing company shed about 1.6% on the back of lower-than-expected guidance for the fourth quarter, during which the company expects revenue between $1.41 and $1.44 billion, while analysts polled by FactSet expect $1.41 billion. The company reported a solid beat for the third quarter, posting adjusted earnings per share of $1.93 on revenue of $1.34 billion during the period. Analysts’ polled by FactSet expected earnings of $1.79 per share on $1.32 billion in revenue. Avis Budget Group — Shares of the truck rental company jumped 4.6% after market close. Avis Budget Group reported revenue of $3.52 billion for the third quarter, while analysts polled by FactSet expected $3.45 billion. Cash flow expectations also flew past FactSet estimates, with Avis Budget reporting adjusted EBITDA of $559 million, beating analysts’ forecast of $540.3 million. NXP Semiconductors — Shares of the Dutch semiconductor manufacturer added 2% after NXP gave third-quarter results that exceeded Wall Street estimates, along with a stronger-than-anticipated forecast for the current quarterly period. For the third quarter, NXP reported revenue of $3.17 billion, just higher than the $3.16 billion expected from analysts polled by LSEG. The company’s earnings per share of $3.11 matched analysts’ forecast, per LSEG, meanwhile. NXP said it expects fourth-quarter adjusted earnings to range between $3.07 and $3.49 per share, reflecting a recovery from slow demand. Confluent — The data streaming platform jumped 8.7% in after-hours trading. Confluent reported third-quarter adjusted earnings of 13 cents per share on revenue of $299 million, beating analysts’ forecast of 10 cents per share on $293 million in revenue, per LSEG. Universal Health Services — The health care facility manager popped 5.6% after earnings and guidance topped expectations. United Health Services said it earned $5.69 per share, excluding items, on $4.5 billion in revenue for the third quarter, exceeding the consensus forecast of $4.88 a share and $4.34 billion, per FactSet. Waste Management — Shares of the disposal services company dropped 4.8% on the back of a disappointing financial results. Waste Management reported earnings per share of $1.98, excluding items, while analysts polled by FactSet expected $2.02 per share. Revenue came out at $6.44 billion, falling short of analysts’ forecast of $6.50 billion, per LSEG. — Alex Harring and Sean Conlon contributed reporting.
