Stocks making the biggest moves after hours: Cisco, L Brands, Synopsys & more
The logo of Cisco Systems is seen at their headquarters in Issy-les-Moulineaux, near Paris, France.
Philippe Wojazer | Reuters
Check out the companies making headlines after the bell on Wednesday:
Cisco — Shares of the data center networking hardware maker dropped more than 6% in extended trading after the company issued weaker-than-expected guidance for the next quarter. Cisco said it sees 81 cents to 83 cents in adjusted earnings per share in the fiscal fourth quarter, while analysts had expected 85 cents in adjusted earnings per share. The company’s profits and revenue for its fiscal third quarter came in above expectations, however.
L Brands — Shares of Victoria’s Secret parent fell more than 1% even after a better-than-expected quarterly report. Its adjusted earnings per share came in at $1.25, versus a Refinitiv forecast of $1.21 per share. Revenue also topped analysts’ estimates, driven by momentum across its business and more people paying full price for its products.
Synopsys — The software stock popped 2% in extended trading after the company reported quarterly results that blew past estimates. Synopsys reported adjusted earnings of $1.70 a share, above the $1.53 per share expected by analysts polled by FactSet. Sales came in at $1.02 billion for the quarter, ahead of an estimate of $989 million.
Shoe Carnival — Shares of the footwear retailer fell more than 4% after the company said its revenue for the second quarter would be less than analysts had expected. Shoe Carnival estimated sales for the next quarter in the range of $268 million to $278 million, missing analysts’ estimate of $282 million per FactSet.