Several companies made headlines after the bell, including Nvidia, which saw its stock price rise about 4% after announcing a 10-for-1 stock split. The chipmaker also exceeded Wall Street’s fiscal first-quarter estimates on both the top and bottom lines and issued strong guidance for the current quarter. This positive news also boosted other stocks related to artificial intelligence, such as Super Micro Computer and Advanced Micro Devices. Snowflake, a cloud-computing company, jumped more than 5% after reporting fiscal first-quarter revenue that surpassed expectations but adjusted earnings that fell short. VF Corp., an apparel and footwear company, saw its stock price drop 9% after posting an unexpected loss for the recent quarter and revenue that missed estimates.
E.l.f. Beauty, a cosmetics company, slid 2% after offering full-year guidance that fell below Wall Street’s expectations. The company’s projected net sales range of $1.23 billion to $1.25 billion was lower than the $1.27 billion anticipated by analysts. Synopsys, an electronic design automation stock, slipped more than 1% after falling short of Wall Street’s estimates on both the top and bottom lines in the fiscal second quarter. LiveRamp Holdings, an advertising technology stock, saw its stock price jump nearly 12% on strong fiscal fourth-quarter results that surpassed analysts’ estimates. The company also issued positive guidance for the current quarter and full year, with expected revenue between $710 million and $730 million.
News Corp., the owner of Dow Jones and The Wall Street Journal, climbed 4% after signing a multiyear agreement to make its news content available on OpenAI. Cytokinetics, a biopharmaceutical company, saw its shares tumble 12% after announcing a $500 million common stock offering, with JPMorgan, Goldman Sachs, and Morgan Stanley acting as sole joint book-running managers. DuPont de Nemours, on the other hand, saw its shares rise about 5% after announcing plans to divide into three separate businesses. One company will focus on electronics, another on water filtration and purification, and the third, which will house its industrial solutions operations, including adhesives, will become the new DuPont. CEO Ed Breen will step down on June 1 and be replaced by CFO Lori Koch, with Breen becoming executive chair of the board.
