Stocks making the biggest moves after hours: Verint Systems, HP, Fiat Chrysler and more
Check out the companies making headlines after the bell.
Verint Systems — Shares of the analytics company tumbled 12% in extended trading after Verint Systems missed analysts' estimates on both earnings and revenue in the fourth quarter. The company reported earnings of $1.11 per share excluding some items on revenue of $349 million. Analysts anticipated earnings of $1.16 on revenue of $375 million, according to Refinitiv.
HP — The technology company's stock fell 1% in extended trading after Xerox announced that it was dropping its hostile takeover bid to merge with HP. "The current global health crisis and resulting macroeconomic and market turmoil caused by COVID-19 have created an environment that is not conducive to Xerox continuing to pursue an acquisition of HP," Xerox said in a statement on Tuesday. HP previously rejected Xerox's proposals, and Xerox raised its offer to $24 per share in February, which would have valued HP at approximately $34 billion.
Fiat Chrysler Automobiles — Shares of the automaker rose 2% after the market closed. Car manufacturers like Fiat Chrysler are offering 0% financing for 84 months and deferred payments of 90 days for well-qualified new car buyers in order to drum up sales in an industry crippled by the coronavirus.
Noble Energy — The oil exploration company's stock fell 2% in extended trading after rising 14% earlier in the day. Oil prices rose Tuesday after President Donald Trump and Russian President Vladimir Putin discussed declining oil prices over a phone call. Oil prices previously fell to an 18-year low on Monday.
SmileDirectClub — The teledentistry company's stock rose 3% after the closing bell. Interest in telehealth companies like SmileDirectClub has grown amidst the coronavirus as people choose to consult with medical professions via phone or video chat rather than in person.
Macy's — The retailer's stock rose 1% during extended trading. Macy's is moving to the S&P SmallCap 600 and is being replaced on the S&P 500 by Carrier Global, the S&P Dow Jones Indices announced Tuesday. Carrier Global is a spinoff of United Technologies. Macy's will be removed from the S&P 500 prior to the open on April 6.