Check out companies making headlines in trading outside of business hours: Cisco – Tech stocks have retreated almost 3% after fourth quarter results beat expectations. Cisco posted adjusted earnings of 99 cents per share with revenue of $14.677 billion, while analysts surveyed by LSEG were looking for revenue of $146.2 billion, with revenue of $98 cents per share. The company’s guidance is barely above expectations. Cisco stocks are up about 19% per year. Ibotta – Stocks lost expectations by over 21% following the tech company’s second quarter results. Ibotta reported earnings of 8 cents per share, below the analyst expected 19 cents per share. The company also estimated quarterly revenue of $86 million, with analysts estimated $90.5 million. Q3 revenue guidance was also weaker than expected. Coherent – Semiconductor manufacturer stocks plummeted more than 16%. According to LSEG, the company won $1.00 per share with earnings of 91 cents per share and revenues of $1.53 billion above its $1.510 billion revenue. It also announced that it will sell its aerospace and defense operations for $400 million. Bullish – Crypto Exchange stocks rose more than 3% in extended trading after Bullish’s first transaction. The shares opened on the New York Stock Exchange for $90. This was 143% above the initial public offering price of $37. The shares ended with a profit of $68, or nearly 84%. -CNBC’s Christina Cheddar Berk contributed the report.
Stocks that make the biggest moves outside of business hours: Cisco, Ibotta, etc.
