Stock Market

Stocks making the biggest moves after hours: SolarEdge Technologies, Advanced Micro Devices, Starbucks and more

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Elf complexion sponges arranged in Germantown, New York, July 17, 2023.
Gabby Jones | Bloomberg | Getty Images

Check out the companies making headlines after hours.

SolarEdge Technologies — The solar stock dropped 11% in extended trading. SolarEdge missed revenue expectations in its second quarter, posting $991 million compared to the expected $992 million from analysts polled by Refinitiv. The company beat earnings estimates, posting an adjusted $2.62 per share, better than the $2.52 per-share estimate.

Advanced Micro Devices — The chip stock jumped nearly 4% after Advanced Micro Devices reported better-than-expected quarterly results. AMD reported second-quarter adjusted earnings of 58 cents per share on revenue of $5.36 billion. Analysts polled by Refinitiv expected per-share earnings of 57 cents on revenue of $5.31 billion.

Freshworks — Freshworks advanced nearly 14% after reporting second-quarter earnings that exceeded expectations on the top and bottom lines. The software company reported adjusted earnings of 7 cents per share on revenue of $145 million. Analysts polled by Refinitiv had expected per-share earnings of 2 cents on revenue of $141 million.

Starbucks — Starbucks declined 1% after reporting a revenue miss. The coffee chain reported fiscal third-quarter revenue of $9.17 billion, lower than the $9.29 billion estimated by analysts polled by Refinitiv. Starbucks did post adjusted per-share earnings of $1.00, better than the 95 cent estimate.

Virgin Galactic — Virgin Galactic shares dipped 3% after the space tourism company posted a revenue miss in its second quarter. It reported revenue of $1.9 million, lower than the consensus estimate of $2.7 million, according to Refinitiv. It did beat on earnings expectations. Virgin Galactic posted a loss per share of 46 cents, better than the estimated loss of 51 cents per share.

Pinterest — Pinterest slipped 0.5% after the bell despite posting a top-and-bottom line beat. The image-sharing platform reported adjusted earnings of 21 cents a share on revenues of $708 million, per Refinitiv.

e.l.f. Beauty — The beauty stock surged 15% after e.l.f. Beauty topped analysts’ expectations in its most recent quarter. e.l.f. Beauty posted first-quarter adjusted earnings of $1.10 per share on revenue of $216 million. Analysts polled by Refinitiv had expected per-share earnings of 56 cents per share on revenue of $184 million.

Match Group — Shares surged 11% after Match Group exceeded analysts’ second-quarter expectations. The dating app company posted earnings of 48 cents per share on revenue of $830 million. Analysts polled by Refinitiv had expected per-share earnings of 45 cents on revenue of $811 million.

Devon Energy — The stock fell about 2% after Devon Energy missed revenue expectations in its second quarter. Devon Energy posted revenues of $3.45 billion, lower than the estimated $3.74 billion from analysts polled by Refinitiv. Earnings came in line with estimates. Devon reported adjusted earnings of $1.18 per share.

Frontier Group Holdings — Frontier Group rose more than 3% after reporting earnings that beat on the top and bottom lines. The airline company reported second-quarter adjusted earnings of 31 cents per share on revenue of $967 million. Analysts polled by Refinitiv expected per-share earnings of 28 cents on revenue of $966 million.

Electronic Arts — Electronic Arts slid 3.5% after its fiscal first-quarter revenue missed analysts’ expectations. The video game company reported $1.58 billion, lower than the consensus estimate of $1.59 billion, according to Refinitiv. It posted earnings per share of $1.47, topping the forecasted $1.02 per share.

Caesars Entertainment — Caesars Entertainment fell more than 2% in extended trading. The casino company reported second-quarter revenue of $2.88 billion, beating the estimate of $2.87 billion, according to Refinitiv. The earnings per share figure was not comparable.

— CNBC’s Samantha Subin contributed to this report.

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