Check out the companies making waves in after-hours trading. FedEx saw its shares climb by 8%, thanks to a strong second quarter that surpassed earnings predictions. The delivery giant posted adjusted earnings of $4.05 per share, outshining the $3.90 per share anticipated by analysts from LSEG. Despite revenue falling short of expectations, FedEx stirred interest by announcing plans to spin off its freight business.
Meanwhile, Nike also made headlines with a 6% surge in its stock value. The retailer’s second-quarter performance outperformed Wall Street’s forecasts, boasting earnings of 78 cents per share on $12.35 billion in revenue. This was notably higher than the 63 cents per share on $12.13 billion in revenue that LSEG analysts had predicted.
Mission Produce enjoyed a 9% uptick in its share price, fueled by its impressive results in the fiscal fourth quarter. The company reported adjusted earnings of 28 cents per share on revenue amounting to $354.4 million, an improvement from the previous year’s 11 cents per share. Plus, revenue shot up by 37% from the same period last year.
Conversely, U.S. Steel faced a more challenging situation, with shares dipping over 4% following disappointing guidance for the fourth quarter. The steel manufacturer foresees a loss between 25 cents and 29 cents per share, contrasting sharply with the 22-cent profit per share that analysts polled by FactSet had projected.
