After-Hours Stock Movers:
Broadcom — The chip stock rose more than 3% in extended trading on Thursday after Broadcom beat estimates on the top and bottom lines for its fiscal first quarter. The company reported $8.39 of adjusted earnings per share, while analysts surveyed by Refinitiv were looking for $8.08 per share. The firm’s second-quarter revenue guidance also came in above expectations.
Gap — Shares for Gapsurged more than 8% in extended tradingafter the retailer reported a smaller-than-expected loss for the fourth quarter and issued strong earnings guidance. Gap posted losses of 2 cents per share, versus the 14 cents forecast by Refinitiv analysts. Revenue came in at $4.53 billion, versus an estimated $4.49 billion. For the full year, Gap expects to earn between $1.85 and $2.05 per share. Analysts were expecting adjusted earnings of $1.86 per share.
Smith & Wesson Brands Inc — Shares of the firearms maker dropped 14.7% in extended trading after the company’s fiscal third-quarter results came in short of analyst expectations. The company reported 69 cents in adjusted earnigns per share on $177.7 million of revenue. Analysts surveyed by Refinitiv were looking for 83 cents and $198.3 million in revenue, according to FactSet’s StreetAccount. CEO Mark Smith said in a release that the firearms market has “cooled significantly” from where it was earlier in the pandemic.
Sweetgreen, Inc. — Shares for Sweetgreen surged nearly 20% after hours, after the salad chain reported stellar sales growth in the fourth quarter. It’s the first time the restaurant posted a quarterly report since its public debut. Net sales rose by 63% to $96.4 million, beating analyst expectations of $84.7 million, according to Refinitiv. The company did report a net loss for the quarter.
$(Duolingo)$Duolingo, Inc. —Duolingo Inc. shares rallied 12% in the extended session Thursday after the language-learning platform's quarterly results and forecast exceeded Wall Street expectations.
Marvell Technology —Chipmaker Marvell Technology(MRVL) late Thursday beat analyst expectations for its fiscal fourth quarter and guided higher for the current period, thanks to across-the-board sales gains. MRVL stock rose in extended trading.