Stocks making the biggest moves after hours: Keurig Dr Pepper, F5 Networks, Tesla and more
Check out the companies making headlines after the bell.
Keurig Dr Pepper — The beverage company's stock soared 7% in extended trading after Keurig Dr Pepper reported first-quarter earnings. The company posted earnings of 29 cents per share on revenue of $2.61 billion, while analysts anticipated earnings of 27 cents per share with revenue of $2.55 billion, according to Refinitiv. KDP reaffirmed its 2020 guidance at a time when many companies are withdrawing their financial outlooks amid the uncertainty caused by the coronavirus. The company also said it saw strong sales volumes among packaged drinks "due to stock-up behavior late in the quarter related to COVID-19."
F5 Networks — Shares of the technology company shot up 9% in extended trading after F5 Networks released its second-quarter financial results. The company posted a double beat on earnings and revenue in the second quarter. F5 Networks reported earnings of $2.23 per share excluding some items on revenue of $583 million, while analysts polled by Refinitiv expected earnings of $1.95 per share on revenue of $559 million. "In the last month of the quarter, we also saw increased demand for capacity as customers looked to quickly and, in some cases, massively scale remote access capabilities to keep their employees safe and their businesses running," CEO and President François Locoh-Donou said in a statement.
F5 Networks also gave strong third-quarter financial guidance and said that it expects earnings of $1.91 to $2.13 per diluted share. Wall Street estimated earnings of $1.84 in the third quarter.
Tesla — The automaker's stock fell 2% in extended trading following a CNBC report that the company canceled plans to bring dozens of furloughed workers back to production lines at its Fremont, California plant. "Per the direction of the executive leadership team, we will not be returning to work Wednesday, April 29. Please disregard all communication and directives on returning to work this week," an internal correspondence shared with CNBC said.
Boeing — Shares of the plane manufacturer climbed 1% in extended trading after the company announced that it is resuming production on its 787 Dreamliner model at its Boeing South Carolina facility. Boeing said most of the assembly site's employees will return on May 3 or May 4, and that new safety measures will be in place, including having personal protective equipment and voluntary temperature screening stations available to employees.
CVS Health — The pharmacy chain's stock was up 1% in extended trading after the company announced that it will expand coronavirus testing to nearly 1,000 sites across the United States by the end of May. The company also said it plans to process up to 1.5 million test per month. However, the company said in a statement that the expansion depends on adequate supplies and lab capacity being available.