In the after-hours trading scene, several companies grabbed the spotlight. Starbucks, for instance, saw its shares rise by over 2% following a robust quarterly financial performance. The popular coffee chain reported first-quarter earnings of 69 cents per share on revenues reaching $9.40 billion. These figures surpassed the expectations of analysts from LSEG, who anticipated earnings of 67 cents per share and a revenue of $9.31 billion. However, it’s worth noting that same-store sales faced a decline for the fourth straight quarter.
In the tech arena, F5, an application security firm, experienced a notable 12% stock surge, spurred by a promising revenue forecast for the second quarter. The company projects its revenue to fall within the $705 million to $725 million range, outpacing the $702.7 million projection from FactSet analysts.
Qorvo, a player in the semiconductor industry, also enjoyed a 12% increase in its stock price. This boost was fueled by a positive outlook for the fourth quarter. The company predicts revenue will hit $850 million, which stands above the $841 million forecasted by LSEG analysts. Moreover, Qorvo’s adjusted earnings per share forecast of $1 topped predictions set at 86 cents per share.
Meanwhile, Nextracker, a solar tracker manufacturer, saw its shares climb by 13%. The company unveiled an optimistic full-year earnings forecast after surpassing expectations in their third-quarter outcomes. Nextracker now expects adjusted full-year earnings per share to range from $3.75 to $3.95, improving significantly from its previous guidance of $3.10 to $3.30. This projection also exceeds the $3.27 per share anticipated by FactSet analysts.
On the flip side, LendingClub had a challenging session, with its shares dropping over 17%. This decline followed revelations that the company’s provisions for credit losses in the fourth quarter were higher than analysts had forecasted. LendingClub set aside $63.2 million for loan provisions, eclipsing the $51.4 million consensus estimate from FactSet.
