Author : Globenews9 Last Updated, Oct 19, 2023, 9:43 PM
Business
Stocks making the biggest moves after hours: SEDG, KNX, ISRG
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Check out the companies making headlines in after-hours trading. SolarEdge — Shares plunged 20% after the solar company lowered its third-quarter revenue guidance to between $720 million and $730 million, down from prior guidance of between $880 million and $920 million. CEO Zvi Lando said the company experienced “substantial unexpected” cancellations and pushouts of existing backlog from its European distributors. Enphase Energy and First Solar lost 14% and 4.9%, respectively, on the back of SolarEdge’s downbeat news. Intuitive Surgical — Shares dropped 7% after Intuitive Surgical missed third-quarter revenue expectations, posting $1.74 billion while analysts had forecast $1.77 billion, according to LSEG, formerly known as Refinitiv. The company reported adjusted earnings per share of $1.46, surpassing analysts’ expectations of $1.41 per share. Knight-Swift Transportation — Shares soared 14% after the freight transportation company reported a beat on the top and bottom lines for the third quarter. The company reported adjusted earnings of 41 cents per share, while analysts estimated earnings per share of 36 cents, according to LSEG. The company’s revenue of $2.02 billion exceeded analysts’ expectations of $1.89 billion. Western Alliance — The regional bank gained 3%. Western Alliance posted third-quarter earnings of $1.97 per share, while analysts polled by FactSet forecast $1.91 per share. Net interest income was $587 million, while analysts called for $559.1 million. WD-40 — The manufacturer of lubricants lost 5% in after-hours trading. The company posted fourth-quarter revenue of $140.5 million, up 8% from $130.4 million a year earlier. Diluted earnings per share came in at $1.21, compared to $1.08 in the prior year. CSX — The transportation company’s shares dipped about 1% after the company’s third-quarter earnings fell short of analysts’ estimates. CSX posted earnings of 42 cents per share, while analysts polled by LSEG called for 43 cents per share. Revenue came in above expectations at $3.57 billion, while analysts forecast $3.55 billion. — CNBC’s Darla Mercado contributed reporting.
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