Micron Technology’s stock declined by 4% in extended trading following weaker-than-expected earnings guidance for the current quarter. The company projected a loss of $1.07 per share, compared to analysts’ expectations of 95 cents. However, Micron reported a narrower-than-expected loss for the fiscal fourth quarter and exceeded revenue expectations. Additionally, the company’s current-quarter revenue guidance exceeded analysts’ forecasts.
Peloton Interactive saw a 13% increase in its stock after announcing a five-year partnership with Lululemon to develop content. This news led to Lululemon’s stock rising by nearly 1% in extended trading.
Jefferies Financial experienced a 3% decline in its stock after reporting third-quarter earnings of 22 cents per share and a revenue of $1.18 billion, both lower than the previous year. The company attributed this decline to a pre-tax loss in its legacy merchant banking portfolio.
H.B. Fuller, a chemical company, saw its stock slip approximately 1% following a weak financial report for the third quarter. The company reported $1.06 per share in earnings, falling short of analysts’ expectations, as well as lower revenue compared to forecasts.
Luxury wine producer Duckhorn Portfolio suffered a 2.8% decrease in its stock price after providing full-year guidance that was below analysts’ expectations. The company projected earnings per share between 67 cents and 69 cents, while analysts estimated 70 cents per share. Furthermore, Duckhorn’s full-year revenue guidance of $420 million to $430 million was lower than the forecasted $432.8 million. However, the company managed to surpass expectations in both revenue and earnings for its fiscal fourth quarter.