Stocks making the biggest moves after hours: Avis, Palantir, Cadence Design and more
Check out the companies making headlines in after-hour trading.
Avis — The car rental company gained 3.5% after beating both top- and bottom-line estimates from analysts polled by Refinitiv. Avis posted adjusted earnings per share of $10.46 on revenue of $2.77 billion, compared with analysts' estimates of $6.79 in per-share earnings on revenues of $2.69 billion. The company cited strong demand and said that has continued in the current quarter.
Amkor Technology — Shares of the semiconductor stock slid 5% after missing per-share earnings estimates while beating expectations for revenue, according to FactSet. The company also gave first-quarter guidance that was below analysts' expectations.
Cadence Design — The software company gained 4% after beating both top- and bottom-line expectations of analysts polled by FactSet in the fourth quarter. The company also gave first-quarter guidance that was above what analysts anticipated.
Palantir — Shares jumped 18% on the back of quarterly results that came in ahead of analysts' expectations for per-share earnings and revenue, according to Refinitiv. It is also the first quarter Palantir posted positive net income on a GAAP basis, coming in at $31 million.
Arista Networks — The cloud stock advanced less than 1% after reporting earnings and revenue that came in ahead of the consensus estimate set by analysts polled by Refinitiv. The company also gave current-quarter revenue guidance that was above expectations.
SolarEdge — Shares of the solar stock gained less than 1% after beating earnings and per-share revenue estimates from analysts polled by FactSet. The company also said first-quarter revenue should come in at between $915 million and $945 million compared with the analyst consensus estimate of $917.2 million.