Check out the companies making waves after hours. Adobe, the well-known software giant, saw its shares drop by 8% following a revenue forecast for the first fiscal quarter that didn’t quite meet expectations. Adobe projected revenues to land between $5.63 billion and $5.68 billion, a bit shy of the $5.73 billion consensus forecast according to LSEG. Despite this, the previous quarter saw Adobe’s adjusted earnings per share and revenue exceed what analysts had predicted.
Chewy, the popular pet goods retailer, experienced a nearly 3% decline in extended trading. The company announced plans for a $500 million public offering of shares, which are being sold off by Buddy Chester Sub LLC. It’s important to note that Chewy won’t benefit financially from the proceeds of this sale, although they will simultaneously repurchase $50 million in shares from Buddy Chester.
Moving to the apparel sector, shares of Oxford Industries, the parent company of the Tommy Bahama brand, dipped almost 5% after disappointing third-quarter results. The company reported adjusted losses of 11 cents per share on $308 million in revenue. This fell below the expectations of analysts surveyed by FactSet, who anticipated earnings of 9 cents per share and $316.8 million in revenue.
Lastly, Nordson, a manufacturer in the industrial machinery space, fell over 5% following the release of a less optimistic fiscal first-quarter forecast. The company anticipates adjusted earnings per share between $1.95 and $2.15, compared to the $2.30 per share anticipated by analysts, according to FactSet. Additionally, Nordson’s projected revenue, estimated to be between $615 million and $655 million, falls short of the $681.7 million analysts were expecting. The company attributed this to a seasonal downturn and cautious spending from customers.
