Stocks making the biggest moves after hours: CDNS, RMBS, WELL
Check out the companies making headlines after hours. Cadence Design Systems — Shares of the chip design company popped more than 4% after Cadence Design posted second quarter earnings of $2.11 per share, excluding items, topping the LSEG consensus estimate of $2.05 per share. Revenue of $1.58 billion came in line with expectations. Rambus — The maker of memory interface chips rose slightly after posting second quarter earnings of 77 cents per share, on an adjusted basis, on revenues of $207 million, exceeding estimates. Analysts surveyed by LSEG had expected earnings of 72 cents per share on revenues of $198 million. Universal Health Services — The hospital and healthcare services provider dropped more than 4% after it lowered its full-year guidance. The company expects earnings in the range of $22.28 to $23.65 per share, on an adjusted basis, down from prior guidance of $22.64 to $24.52 per share, for the year ending December. Welltower — Shares of the senior housing real estate investment trust jumped 4%. Welltower raised its full-year guidance, calling for normalized funds from operation in a range of $6.36 to $6.44 per share, topping the FactSet consensus estimate of $6.30. Happen — The bank formerly known as LendingClub saw shares advance 4%. Full-year guidance for earnings of $1.80 to $1.90 per share surpassed the FactSet consensus of $1.74 per share. The company sees loan originations ranging from $12.2 billion to $12.6 billion for the year. F5 — The multi-cloud security company gained almost 2%. Third-quarter results were ahead of the Street’s expectations. F5 reported adjusted earnings of $4.73 per share on revenue of $865 million, while the LSEG consensus sought $4 per share and $388 million in revenue. Cincinnati Financial — The insurer lost almost 4% after it posted disappointing second quarter results. Operating earnings of $1.43 per share missed the FactSet consensus estimate of $1.84 per share. Net premiums of $2.64 billion came in below the $2.66 billion anticipated by analysts. Nucor — The steel producer dipped 1% even after posting second quarter earnings and revenue that beat expectations. The stock was already up more than 50% year to date. Principal Financial Group — Shares fell 3% even after the retirement services company posted operating earnings of $2.42 per share, excluding items, which topped the $2.34 per-share earnings expected by analysts polled by FactSet. The stock is already up more than 25% this year. — CNBC’s Darla Mercado contributed to this report.
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