Market Insider

After-hours buzz: FDX, NKE, GPRO & more

Nike shares jump on earnings beat

Check out which companies are making headlines after the bell on Tuesday:

FedEx shares fell 3 percent in extended trade Tuesday after the company reported earnings that missed Wall Street expectations. FedEx reported adjusted earnings of $2.80 a share on revenue of $14.93 billion. Analysts expected the company to post earnings of $2.90 a share on $14.92 billion in revenue, according to a Thomson Reuters consensus estimate. The company's full-year adjusted earnings outlook for 2017 remained unchanged at between $11.85 a share and $12.35 per share. Shares of rival UPS fell more than 1 percent in sympathy with FedEx.

Shares of Nike rose more than 5 percent in after-hours trading after the world's largest athletic wear firm beat Wall Street's earnings and revenue expectations. Earnings per share came in at 50 cents, adjusted, topping the Thomson Reuters consensus that called for a profit of 43 cents a share. The company's sales were fueled by strength across global markets, in both footwear and apparel, calming some nerves that the brand is losing its footing. Nike's revenue rose 6 percent during the fiscal second quarter to $8.18 billion. Analysts had predicted Nike would pull in $8.09 billion in revenue, according to the consensus estimate. 

GoPro shares dipped nearly 1 percent in extended trading on Tuesday after it announced a hike in its restructuring costs. The action camera maker will spend an extra $7 million on restructuring, raising the total cost to $33 million from $24 million. Most of the costs will be recognized in the fourth quarter, GoPro said. GoPro's flagship holiday product, the Karma drone, was plagued by delays and a recall this year.

Semiconductor stocks were also on the move after the bell, in light volume, with Apple suppliers Qorvo and Skyworks Solutions each up about 1 percent, and Xilinx down more than 2 percent. Leading chipmaker Nvidia got an endorsement from Goldman Sachs on Tuesday, boosting its shares nearly 3.5 percent during the regular trading session. Virtual reality, artificial intelligence, cars and machine learning will be the big trend in semiconductor stocks next year, Goldman said in a research note.

Steelcase shares fell more than 10 percent in extended trade after the furniture company posted its quarterly earnings report. The Michigan-based company reported earnings of 34 cents a share on revenues of $787 million. The company's preliminary results from Dec. 8 were in line with Tuesday's report.

—CNBC's Anita Balakrishnan and Krystina Gustafson contributed to this report.