Stocks making the biggest moves after hours: Disney, PayPal, Arm Holdings, Wynn Resorts and more

Published Wed, Feb 7 20245:18 PM ESTUpdated Wed, Feb 7 20245:29 PM EST

Check out the companies making headlines in extended trading. Disney — Shares climbed about 6% in after-hours trading, buoyed by better-than-expected fiscal first-quarter earnings . Disney said it expects adjusted earnings to rise 20% to $4.60 per share in fiscal 2024, and it announced a new stock repurchase program and reinstated its dividend. The company also is making an investment in Epic Games , publisher of the Fortnite video game, among other news . PayPal — PayPal stock fell more than 3%. Although fourth-quarter results beat Wall Street estimates, the company's forecast was lower than expected . It anticipates full-year earnings per share of $5.10, against analyst estimates of $5.48 per share, from LSEG, formerly known as Refinitiv. PayPal said the number of active users fell to 426 million, which was below the Wall Street estimate of 427.17 million, according to StreetAccount. Oscar Health — Shares gained more than 24% due to stronger-than-expected full-year guidance that surpassed Wall Street estimates. The company forecasts full-year revenue in the range of $8.3 billion to $8.4 billion compared to an estimate from analysts surveyed by FactSet of $6.9 billion. Wynn Resorts — Stock in the casino operator climbed about 3% after a fourth-quarter beat for both adjusted earnings per share and revenue. Wynn reported $1.91 per share on revenue of $1.84 billion, while analysts polled by LSEG forecast earnings of $1.15 per share on revenue of $1.74 billion. Allstate — Stock in the insurance provider rose 2% after net premiums written of $12.64 billion in the fourth quarter were below an estimate of $12.72 billion from analysts polled by FactSet. Arm Holdings — Stock in the chipmaker soared nearly 30% after Arm beat Wall Street estimates for the fiscal third quarter on the top and bottom lines and issued higher-than-expected fourth-quarter revenue guidance . The company now expects fourth-quarter revenue in the range of $850 million to $900 million, while analysts surveyed by LSEG expected $780 million. The fourth-quarter earnings forecast also topped Wall Street estimates. Monolithic Power Systems — Shares climbed nearly 8% after beating Wall Street estimates in the fourth quarter. The company posted earnings of $2.88 per share, excluding items, on revenue of $454 million. Analysts surveyed by FactSet called for the company to earn $2.85 per share on revenue of $452.1 million.