Barbie dolls in the Mattel display at the annual Toy Fair in New York.
Stan Honda | AFP | Getty Images
Check out the companies making headlines in extended trading.
Disney — Shares of the entertainment company rose more than 6% after the company released its fiscal first-quarter earnings report. Disney reported a smaller-than-expected drop in subscribers, as well as a beat on the top and bottom lines. CEO Bob Iger, who returned to the company in November, also announced Disney would be slashing 7,000 jobs as part of a cost-cutting and reorganization plan.
Mattel — Shares tumbled 10% after the company said shoppers bought fewer toys this holiday season as higher prices for food and other necessities led to tighter budgets. Fourth-quarter sales fell 22% from the prior year. Revenue and earnings were both below analysts’ estimates, according to Refinitiv.
Robinhood — Shares rose 5% after Robinhood missed revenue expectations in its latest earnings report. The firm reported $380 million in revenue, lower than forecasts of $397 million, according to consensus estimates from Refinitiv. In addition, Robinhood said it would buy back Sam Bankman-Fried’s stake in the company. FTX’s Bankman-Fried disclosed in May that he purchased a 7.6% stake in Robinhood.
Affirm — The buy now, pay later finance company slumped about 17% in extended trading as fiscal second-quarter earnings and revenue missed analysts’ estimates, according to Refinitiv. CEO and founder Max Levchin also announced layoffs equal to 19% of the workforce effective immediately.
Ceridian — The software company got a 6.5% boost in its shares in extended trading after it posted earnings, excluding items, that almost doubled analysts’ expectations and reported better-than-expected revenue, according to FactSet. Guidance for the first quarter also came in more upbeat than analysts’ forecast.
Lincoln National — The life insurance company slipped 2.5% in after-hours trading after it issued fourth-quarter…
Read the full article here
