Stocks making the biggest moves after hours: FedEx, Nike, U.S. Steel and more
Check out the companies making headlines in after-hours trading. FedEx – Shares rose 8% following the delivery giant’s better-than-expected earnings. For its fiscal second quarter, FedEx reported adjusted earnings of $4.05 per share, above the $3.90 per share that analysts surveyed by LSEG were expecting. Revenue, however, came in weaker-than-expected. The company also announced that it’s planning on spinning off its freight business . Nike – The retailer’s stock popped around 6% after its fiscal second quarter results topped Wall Street estimates . Nike earned 78 cents per share on $12.35 billion in revenue. Analysts were expecting 63 cents per share on revenue of $12.13 billion, according to LSEG. Mission Produce – Shares gained 9% on the heels of the company’s fiscal fourth quarter results beating analysts’ expectations. Mission Produce posted adjusted earnings of 28 cents per share on revenue of $354.4 million. That’s an improvement from the 11 cents per share in adjusted earnings the company posted in the year-ago period. Revenue also rose 37% from a year earlier. U.S. Steel – Shares fell more than 4% after the steel producer issued weak guidance for its fourth quarter. U.S. Steel expects a loss between 25 cents and 29 cents per share for the period, while analysts were looking for a projected profit of 22 cents per share, per FactSet.
