Several companies made headlines during after-hours trading, including Snowflake, Urban Outfitters, Agilent Technologies, Wolfspeed, Zoom Video, and Charles Schwab. Snowflake reported a nearly 7% drop in its shares despite beating quarterly expectations and slightly raising its full-year product revenue guidance. Urban Outfitters fell roughly 4% after same-store sales disappointed analysts, with a 9.3% decline in stores for the Urban Outfitters brand. Agilent Technologies saw its shares gain almost 2% after reporting better-than-expected third-quarter earnings, with adjusted earnings per share of $1.32 and revenue of $1.58 billion.
Wolfspeed, a semiconductor stock, slipped about 1% after reporting an adjusted loss of 89 cents per share for the fiscal fourth quarter, in line with analysts’ estimates. Zoom Video, on the other hand, edged 2.7% higher after reporting a strong second quarter and topping guidance estimates. The company posted adjusted earnings of $1.39 per share on $1.16 billion in revenue, surpassing expectations. Zoom also announced the departure of its chief financial officer, Kelly Steckelberg. Charles Schwab’s shares slid nearly 5% after TD Bank Group sold 40.5 million shares of Schwab, reducing its ownership in the brokerage to 10.1% from 12.3%.
Snowflake’s fiscal second-quarter adjusted earnings of 18 cents per share exceeded analysts’ expectations of 16 cents per share, with revenue of $869 million beating analyst estimates of $851 million. Urban Outfitters, however, disappointed with a 9.3% decline in same-store sales compared to analysts’ expectations. The company reported earnings of $1.24 per share on $1.35 billion in revenue, missing analyst expectations of $1 per share on $1.34 billion in revenue. Agilent Technologies posted adjusted earnings per share of $1.32 and revenue of $1.58 billion, outperforming analyst expectations of $1.26 per share and $1.56 billion in revenue.
Wolfspeed’s fiscal fourth quarter saw an adjusted loss of 89 cents per share, in line with analysts’ estimates, and revenue of $201 million, meeting analysts’ expectations. Zoom Video, on the other hand, reported adjusted earnings of $1.39 per share and revenue of $1.16 billion, surpassing expectations. The company’s shares rose 2.7% following the strong second-quarter results. Charles Schwab’s shares fell nearly 5% after TD Bank Group sold a significant portion of its shares in the brokerage, reducing its ownership to 10.1%. TD also announced a provision of $2.6 billion to resolve investigations into its anti-money laundering program, with proceeds from the Schwab share sale helping offset the amount.
Overall, the after-hours trading session saw mixed results for the companies in focus. While Snowflake and Urban Outfitters experienced declines in their share prices, Agilent Technologies and Zoom Video saw gains following positive earnings reports. Wolfspeed’s results were in line with expectations, resulting in a slight slip in its share price. Charles Schwab faced downward pressure after TD Bank Group reduced its ownership stake in the brokerage, coupled with provisions for resolving anti-money laundering investigations. The market reaction to these companies reflects a range of performance outcomes and investor sentiment in the after-hours trading period.
