Stocks making the biggest moves after-hours: Applied Materials, Baidu & more
Check out the companies making headlines after the bell Thursday:
Applied Materials — Shares of Applied Materials rose 1.2% in after-hours trading on the back of fiscal third-quarter results that beat analyst expectations. The company reported earnings per share of $1.06 on revenue of $4.4 billion. Analysts polled by Refinitiv expected a profit of 95 cents per share on revenue of $4.18 billion. "By addressing our customers' highest value problems, Applied is outperforming today and is positioned to grow faster than our markets over the next several years," CEO Gary Dickerson said in a statement.
Baidu — Baidu shares fell about 5% in after-hours trading after the Chinese internet company reported second-quarter numbers that beat analyst expectations. Baidu posted an adjusted profit of RMB 14.73 per share, well above a Refinitiv estimate of RMB 9.60 per share. Revenue for the quarter came in at RMB 26.03 billion and analysts expected sales of RMB 25.71 billion
Myriad Genetics — The Utah-based molecular diagnostic company saw its stock rise as much as 1.5% after the bell following mixed results for its fiscal fourth quarter. Myriad reported a loss of 31 cents per share. That was better than a FactSet estimate for a loss of 47 cents per share. Revenue, meanwhile came in just below expectations at $93.2 million. "Following the substantial decline in test volumes at the end of Q3 and beginning of Q4 due to COVID-19 social distancing policies we saw a significant recovery in test volume trends throughout the quarter," said CEO R. Bryan Riggsbee.
Farfetch — Shares of the online luxury retailer jumped more than 5% after the company posted a smaller-than-expected loss for the second quarter. Farfetch reported a loss of 20 cents per share. Analysts polled by FactSet expected a loss of 29 cents per share. The company's revenue for the quarter came in at $364.7 million, well above a forecast of $326.9 million.
CORRECTION: This article has been updated to correct the profit and revenue for Baidu in the second quarter.