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Stocks that move the most after hours: PANW, SEDG, FANG

The Elite Times TeamBy The Elite Times TeamFebruary 20, 2024No Comments3 Mins Read
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Check out the companies making headlines after the bell. Palo Alto Networks – Shares fell nearly 19% after the cybersecurity company’s full-year earnings outlook fell short of expectations. Palo Alto Networks said it now expects full-year revenue growth to be 15% to 16%, down from its previous forecast of 18% to 19% growth. The company also lowered its full-year sales forecast. Meanwhile, adjusted profit and sales for the fiscal second quarter exceeded analyst expectations. Diamondback Energy — Shares rose 1.6% after the energy company posted wins on both fourth-quarter sales and bottom line results. Diamondback posted adjusted earnings of $4.74 per share on revenue of $2.23 billion. Analysts polled by LSEG had expected earnings of $4.66 per share and revenue of $2.17 billion. Caesars Entertainment — Hotels and Resorts shares fell more than 1% after missing out on revenue last quarter. According to LSEG, Caesars reported revenue of $2.83 billion, while analysts expected it to be $2.85 billion. SolarEdge Technologies — Shares fell 9% after the company’s mixed fourth quarter report. SolarEdge reported a smaller-than-expected adjusted loss of 92 cents per share, compared with analysts’ expectations for a loss of $1.17 per share, according to LSEG. Meanwhile, sales were $316 million, below Wall Street’s expectations of $354 million. Quarterly revenue was down 56% year over year. The company’s revenue outlook for the first quarter was also lower than expected. Teladoc — The virtual healthcare company fell 16% after reporting lower-than-expected revenue and weak forward guidance. Teladoc reported revenue of $661 million, compared to expectations of $671 million, according to analysts surveyed by LSEG. The company posted a smaller-than-expected loss of 17 cents per share, compared with analysts’ expectations for a loss of 21 cents per share. Teladoc expects first-quarter sales of $630 million to $645 million, lower than analysts’ expectations of $673 million, according to LSEG. Toll Brothers — Shares rose more than 3% in after-hours trading after the homebuilder reported better-than-expected profits. Toll Brothers posted first-quarter fiscal first-quarter earnings of $2.25 per share, beating estimates of $1.78 per share, according to LSEG. Sales also exceeded expectations at $1.93 billion. CoStar Group — Shares fell 7% after the real estate market announced a weaker-than-expected outlook for the current quarter. CoStar expects first-quarter earnings of 6 to 7 cents a share on revenue of $645 million to $650 million. Analysts surveyed by LSEG had expected earnings of 29 cents a share on revenue of $653 million. The full-year outlook was also weaker than expected, overshadowing fourth-quarter sales and bottom line growth. — CNBC’s Yun Lee and Alex Harring contributed reporting

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