8 Unusual After-Hours Hot Stocks on the Move on Earnings and News
It is earnings season, but not all the big stocks on the move are solely on earnings news. 24/7 Wall St. has compiled news briefs on eight of the top after-hours movers. These are not all of the after-hours moves, as we have covered some other companies more in-depth.
Included in the coverage here has been a news snippet and the after-hours trading reactions and color on each move. As a reminder, these moves in the after-hours can reverse or become exacerbated after conference calls and after analysts and investors get the time to make their post-news adjustments. The after-hours trading session has been compared to the Wild West — and for a reason.
Ambarella Inc. (NASDAQ: AMBA) was down on earnings, but that would be GoPro’s disappointing earnings rather than its own earnings. Ambarella stock was down almost 5% at $35.65 on about 50,000 shares in the first hour after the close. As a reminder, it supplies many of the components for GoPro. Ambarella’s 52-week trading range is $34.60 to $129.19.
CBS Corp. (NYSE: CBS) was up 3.5% at $48.26 in Wednesday’s regular trading session, but went up further when news that Chairman Sumner Redstone was resigning sent the stock high, as he will be replaced by CEO Les Moonves. CBS shares were last seen up 4% at $50.25 in the after-hours session, in a 52-week range of $38.51 to $63.95.
Glu Mobile Inc. (NASDAQ: GLUU) did report earnings, but the real news here seems to be that it has partnered with artist Taylor Swift for a new mobile video game. Glu Mobile was last seen trading up almost 27% at $2.55, on about 400,000 shares in the first hour after the closing bell on Wednesday.
(NYSE: IMPV) saw a large drop after its first-quarter and annual sales expectations were short of expectations, even with a 42% quarterly sales gain to $72.7 million. Imperva’s deferred revenue was also up 31% to $106.7 million. Imperva expects total revenue for 2016 to be in the range of $302 million to $307 million. This stock was down 14% at $42.48 (versus a 52-week low of $38.20) on close to 50,000 shares in the first 60 minutes of the after-hours trading session.
Pacific Biosciences of California Inc. (NASDAQ: PACB) was on the verge of getting a $1 billion market cap again, and that was after a large pop earlier in the week. Despite fourth-quarter revenues rising 115% to $36.3 million, the company lost money after you back out its charges. Pac-Bio was last seen trading down 11% at $11.00, on just over 50,000 shares in the first hour since its close.
SolarEdge Technologies Inc. (NASDAQ: SEDG) was last seen trading up 12% at $30.75 on almost 100,000 shares in the first hour after the close. This was also after closing up 2.7% at $27.44 ahead of the report, versus a 52-week range of $15.02 to $43.00. The company had record revenue of $124.8 million, up 8.5% sequentially and 70.3% from a year earlier. Its GAAP gross margin was 30.9% and net income was $24.1 million, with operating income at $19.8 million.
Take-Two Interactive Software Inc. (NASDAQ: TTWO) had its earnings, and shares were last seen up over 7% at $35.22 on about 50,000 shares in the first 60 minutes of trading. Take-Two reported a loss in the quarter, but it was better than expected as the GAAP portion of the loss had a reorganization charge. It also ended the quarter with $1.21 billion in cash.
Viacom Inc. (NASDAQ: VIAB) was trading up 9% at $48.30 on about 350,000 shares in the first hour after the closing bell. This is “the other Sumner Redstone company” and it issued a statement that its board will meet tomorrow. Viacom closed at $44.67, down from a 52-week high of $73.52.