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Stocks making the biggest moves after hours: Micron, FedEx and more

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, May 31, 2019.
Lucas Jackson | Reuters

Check out the companies making headlines after the bell:

Shares of Micron Technology jumped as much as 9.5% during extended trading after the chipmaker reported better-than-expected third-quarter earnings. The company reported adjusted earnings of $1.05 per share on revenue of $4.79 billion, while Wall Street had expected earnings of 79 cents per share and revenue of $4.69 billion, according to Refinitiv.

Micron CEO Sanjay Mehrotra said on the company's earnings call that Micron has resumed shipments to Huawei. The company suspended shipments to Huawei in May after the Commerce Department added the Chinese smartphone maker to its Bureau of Industry and Security list, Mehrotra said.

Fellow chipmaker Western Digital also rose following Micron's report, gaining as much as 4.3% after hours.

Shares of FedEx rose 2% after hours as the shipping company reported better-than-expected earnings for its fiscal fourth quarter. The Tennessee-based company reported $5.01 adjusted earnings per share on $17.81 billion in revenue, beating estimates of $4.85 earnings per share on $17.79 billion in revenue, according to Refinitiv consensus estimates. 

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Key Points
  • Best Buy's chief merchandising officer says: "American manufacturers may lose share almost immediately to foreign competitors whose products are not made in China and, therefore, not subject to price increases in the form of tariffs."
  • HP's general manager says: "For the printing supplies industry, these tariffs do more damage to the consumers and intellectual property holders like HP than it will do to the IP infringing products."
  • Hallmark Cards' manager says: "Given the industry practice of printing the price on the cards, a tariff will present a pricing fiasco. We simply can't raise prices."