In a whirlwind of activity after the closing bell, several major stocks made significant moves that caught the attention of investors and analysts alike.
First up, cloud-computing company Snowflake saw its stock jump more than 4% after reporting fiscal first-quarter revenue that surpassed expectations. With revenue hitting $829 million, compared to consensus estimates of $786 million, Snowflake proved its strength in the market.
On the flip side, apparel and footwear company VF Corp. experienced a nearly 12% drop in its stock price after posting an unexpected loss for the recent quarter. Additionally, revenue fell short of Wall Street’s estimates, leading to a disappointing outcome for the company.
In a more positive turn of events, advertising technology stock LiveRamp Holdings saw its stock pop nearly 17% following its fiscal fourth-quarter results. Surpassing analyst estimates and issuing strong guidance for the current quarter and full year, LiveRamp proved to be a standout performer in the market.
Meanwhile, Live Nation Entertainment faced a 6% slide in its stock price after reports surfaced that the Department of Justice is considering legal action against the ticketing giant for antitrust violations. Remedies on the table could include a break-up of Live Nation, a move that could have significant implications for the entertainment industry.
Lastly, chipmaker Nvidia saw its shares soar more than 6% to surpass the $1,000 mark for the first time ever after reporting strong earnings. With adjusted earnings of $6.12 per share and revenue of $26.04 billion, Nvidia exceeded expectations and offered a bullish sales guidance for the current quarter.
Overall, the after-hours trading session proved to be a rollercoaster ride for investors, with some stocks surging and others tumbling. As the market continues to react to these developments, it will be interesting to see how these companies fare in the days and weeks ahead.
