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Stocks that are making big moves after the market closes: Whirlpool, F5, Cleveland-Cliffs and more

Stocks that are making big moves after the market closes: Whirlpool, F5, Cleveland-Cliffs and more
January 30, 2024



Here’s what’s happening in after-hour trading. Woodward — Stock prices rose 5% after the manufacturer’s performance in the fiscal first quarter exceeded analysts’ expectations polled by FactSet. Woodward also adjusted its full-year guidance and provided ranges that included FactSet consensus estimates. Sanmina — The manufacturer surged 15% after surpassing the consensus forecasts from analysts surveyed by FactSet for earnings and meeting revenue expectations. Additionally, Sanmina offered a better outlook for the current quarter than what analysts had predicted. Calix — Shares dropped 22% due to weak guidance for the current quarter, overshadowing a quarter that was better than expected. Calix stated adjusted earnings between 17 cents and 23 cents per share, while analysts surveyed by FactSet had predicted 38 cents per share. The company forecasted revenue between $225 million and $231 million for the quarter, falling short of the consensus estimate of $267.5 million. Harmonic — The media tech company fell 3% after-hours following its lower-than-expected full-year earnings and revenue guidance, according to FactSet. Harmonic projected earnings per share between 49 cents and 72 cents, compared to estimates of 74 cents per share. For revenue, it estimated between $655 million and $710 million. The company also mentioned that although it has received “indications of interest” in its video business from various parties, such interest has not resulted in a definitive agreement. F5 — Shares of the cybersecurity company rose more than 7% after F5’s fiscal first-quarter results exceeded expectations on Wall Street. The company reported $3.43 in adjusted earnings per share on $693 million of revenue. Analysts surveyed by LSEG had anticipated $3.04 of earnings per share on $685 million of revenue. Although revenue declined year over year for F5, net income increased. Cleveland-Cliffs — Shares declined 2.5% after the mining company announced its fourth-quarter results. The company reported a net loss of 31 cents per share, which includes a $125 million goodwill impairment charge. Whirlpool — The home product maker dropped 4% after reporting full-year guidance that was lower than what Wall Street had expected. Whirlpool advised that adjusted earnings would range from $13 to $15 per share on revenue of $16.9 billion, while analysts forecasted $15.48 per share and revenue of $17.7 billion, per LSEG. However, the company beat expectations on both fronts in the fourth quarter. Super Micro Computer — Super Micro Computer’s stock jumped 7%. The data center hardware manufacturer exceeded fiscal second-quarter earnings expectations on the top and bottom lines and surpassed the strong preliminary guidance it provided earlier this month due to high demand for artificial intelligence. The company also issued strong fiscal third-quarter guidance and raised its revenue outlook for the fiscal year. Graco – The industrial equipment manufacturer slipped nearly 1% in extended trading. In the fourth quarter, the company posted adjusted earnings of 80 cents per share on revenue of $566.6 million. Analysts polled by FactSet anticipated earnings of 79 cents per share and $561.9 million in revenue. Graco’s management also provided full-year 2024 revenue guidance of “low single-digits on an organic, constant currency basis.” — CNBC’s Darla Mercado, Samantha Subin, Lisa Kailai Han, Tanaya Macheel and Jesse Pound contributed reporting

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