The stock market experienced a range of movements after closing, with some stocks declining and others rising. Micron Technology shares fell by 6% following the release of its quarterly results and guidance, despite beating analyst estimates for the third and fourth quarters. Meanwhile, Recursion Pharmaceuticals saw an 8% decline after announcing plans to offer $200 million of shares in an underwritten public offering.
Levi plunged 12% after its full-year EPS guidance fell short of estimates. However, AeroVision saw a 7% decline despite beating estimates for the fourth quarter, with guidance in line with analyst expectations. On a positive note, CASI Pharma rose 75% after receiving a proposal to acquire its entire business operations in China.
Citigroup saw a modest increase of 0.25%, while Wells Fargo and U.S. Bancorp saw declines after hours. H.B. Fuller also rose by 5%, reporting solid second-quarter results and guidance as investors were impressed with the company’s performance.
Overall, investors were mixed on the news released by various companies, leading to varying stock movements in the market post-close.
Investors had high hopes for Micron Technology ahead of its quarterly report, but were disappointed when the company’s guidance did not meet their expectations. Despite beating analyst estimates for both quarters, investors felt that the results did not justify the price they paid for Micron shares.
Recursion Pharmaceuticals announced plans to raise $200 million through an underwritten public offering, which led to a significant decline in share prices.
Levi failed to meet analyst expectations for full-year earnings per share (EPS), leading to a sharp decline in share prices.
AeroVision performed well during the fourth quarter but only managed to hold onto gains made during that period as share prices declined slightly due to other factors at play.
CASI Pharma experienced significant growth after receiving an acquisition offer from China-based companies.
Citigroup saw modest gains due to positive news from the Federal Reserve regarding large U.S banks being well positioned to weather recessions.
Wells Fargo and U.S Bancorp experienced declines after hours despite performing relatively well during trading hours.
