Stocks making the biggest moves after hours: American Outdoor Brands, Nordstrom, Gap & more
Getty Images National Rifle Association members look over pistols in the Smith & Wesson display at the 146th NRA Annual Meetings & Exhibits on April 29, 2017 in Atlanta, Georgia.
Check out the companies making headlines after the bell Thursday:
American Outdoor Brands shares plummeted more than 16 percent after the bell. The firearms and outdoor products manufacturer reported earnings per share that beat expectations but fell short on everything else. Revenue missed estimates by nearly 10 percent and guidance was extremely weak. The company hit a 52-week low on Thursday.
Demand for firearms has declined significantly following the mass shooting in Parkland, Florida and the newly revived firearms debate. Retailers Walmart and Dick's Sporting Goods have taken a strong stance in the gun control debate and stopped selling assault-style rifles last week. The manufacturer has not commented on the recent shooting or the removal of its products from the two retailers. Sales have declined a whopping 33 percent over the past two years.
Nordstrom stock fell nearly 4 percent after hours. The department store chain reported revenue that beat estimates, but EPS fell 4 cents short. Guidance for the upcoming year is mixed. The chain has rec ently announced plans to go private, but nothing has been finalized yet.
Gap shares spiked nearly 9 percent in extended trading. The clothing and accessories retailer announced EPS and revenue that surpassed Wall Street expectations. The company's dividend was increased 5 percent and guidance for the upcoming year looks very strong.
Analysts expected same-store sales to increase by 1.7 percent, but Gap beat those expectations with a 5 percent increase. The retailer's major divisions all outperformed expectations, led by Old Navy's standout performance.
Shares of Splunk gained more than 6 percent after hours. The data analytics service reported earnings that impressed Wall Street, beating expectations on top and bottom lines. Its revenue and profitability outlook for fis cal 2019 was also raised.
Sturm, Ruger & Company stock dropped nearly 6 percent in extended trading. The firearms manufacturer has had a tumultuous month, following the firearms debate growing in intensity. The backlash it has received and the prospect of stricter gun control laws have sent shares falling.
Pure Storage shares dropped 5 percent after the bell, despite favorable earnings results. The data storage company reported EPS and revenue that surpassed analyst expectations. Guidance was in line with estimates. This quarter was the company's first profitable quarter.
Ambarella stock rose nearly 6 percent in extended trading. The semiconductor design company reported EPS and revenue that beat estimates.
J. C. Penney shares rose 1 percent after the market Thursday. The department store retailer has laid off staff at its corporate headquarters in Plano, Texas, according to a report in The Dallas Morning News. The retailer confirmed the job cuts with CNBC but declined to be more specific, saying there would be more details Friday when the company reports its fourth-quarter earnings.Source: Google News US Business | Netizen 24 United States