Stocks making the biggest moves after hours: AMD, SMCI, ANET
Check out the companies making headlines after the bell : Advanced Micro Devices — Shares popped 7% after the chipmaker issued strong guidance. AMD is calling for second-quarter revenue of $11.2 billion, plus or minus $300 million, versus the analyst estimate for $10.52 billion. First-quarter results also surpassed expectations on the top and bottom lines. Super Micro Computer — The server maker surged 19%. Expectations for fourth-quarter profit range from 65 cents to 79 cents per share, trouncing Wall Street’s call for 55 cents a share, per LSEG. In the third quarter, Super Micro posted adjusted earnings of 84 cents per share on revenue of $10.24 billion. Analysts polled by FactSet had expected earnings of 62 cents and $12.39 billion in revenue. Jacobs Solutions — Shares slipped 2% after the technical professional services firm reported a second-quarter adjusted earnings and revenue beat versus what analysts polled by FactSet had expected. The company also raised its full-year earnings guidance. It now sees earnings coming in between $7.10 to $7.35 per share, higher than previous guidance of between $6.95 to $7.30 per share. Arista Networks — The cloud networking company dropped almost 14%. Adjusted gross margin narrowly missed expectations, coming in at 62.4% in the first quarter, versus the 62.7% anticipated by analysts polled by StreetAccount. Arista’s second-quarter revenue forecast was roughly in line with the Street’s estimate, coming in at $2.8 billion versus the $2.77 billion expected. Lucid Group — Shares of the electric vehicle manufacturer fell 2%. Lucid posted a first-quarter loss of $3.46 per share on a GAAP basis, versus the loss of $2.64 per share expected, per LSEG. Revenue of $282.5 million missed the call for $440.4 million. Klaviyo — The provider of the email marketing platform plummeted 18%. Second-quarter adjusted operating income is expected to range from $47.5 million to $50.5 million versus the StreetAccount consensus call for $52.7 million. Klaviyo also said that finance chief Amanda Whalen will be leaving the company. She is expected to serve as CFO through Aug. 21 and will move into an advisory role through November. DaVita — The kidney dialysis service provided added 3% after reporting first-quarter adjusted earnings and revenue that exceeded what analysts polled by FactSet were looking for. The company now sees its full-year earnings coming in the range of between $14.10 to $15.20 per share, versus prior guidance of between $13.60 to $15 per share. Skyworks Solutions — Shares of the wireless networking service provider slipped almost 3%. Skyworks’ third-quarter guidance calls for revenue of $900 million to $950 million, with adjusted earnings of $1.03 per share expected at the midpoint of the revenue range. Analysts polled by FactSet sought 94 cents per share on revenue of $861.2 million. Devon Energy — Shares of the oil and gas producer lost nearly 2%. Adjusted earnings in the first quarter came in at $1.04 per share, while the FactSet consensus called for $1.06 per share. Production in the period was slightly short of the Street’s expectation.
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