Market Insider

Stocks making the biggest moves after hours: Chip stocks fall, Fiverr climbs

Angel Navarrete | Bloomberg | Getty Images

Check out the companies making headlines after the bell:

Shares of chipmaker Broadcom plunged 8% in extended trading Thursday after the company missed revenue expectations for the second quarter and lowered its revenue guidance for the full fiscal year. The San Jose-based company reported earnings of $5.21 per share, excluding certain items, beating the $5.16 per share expected by analysts, according to Refinitiv. However, the reported $5.52 billion in revenue was below Refinitiv's consensus estimate of $5.68 billion.

Broadcom lowered its guidance for full-year revenue from $24.50 billion to $22.50 billion. Analysts expected $24.31 billion, according to Refinitiv. The company cited a U.S. ban on working with Chinese device giant Huawei in lowering its revenue outlook. 

Other chip stocks followed Broadcom into the red after hours. Broadcom CEO Hock Tan said on a call with analysts that uncertainty in the industry extended beyond Huawei. Advanced Micro DevicesMicron Technology, Qualcomm and Nvidia all fell roughly 1.8%. Texas Instruments and Analog Devices fell more than 2.5% each. 

Fiverr's strong market debut continued after hours, as the company's shares rose another 5.5%. The company, which connects gig economy workers with jobs, saw its stock price rise 90% during market hours in its first day on the public exchanges Thursday.