We may earn commissions if you use the recommended services on this site.  

Nvidia, Splunk, Autodesk, Guess, and More: Stocks with Significant After-Hours Activity

Latest Business News

Stocks in Focus: Nvidia, Splunk, Snowflake, Taiwan Semiconductor, AMD, Marvell, Guess, Super Micro Computer, and Autodesk

Several companies are making headlines in extended trading with significant stock movements.

Splunk

Splunk saw an 11% increase in shares after beating earnings expectations. The company reported earnings of 71 cents per share, adjusted, on $889 million in revenue. Analysts had predicted earnings of 46 cents per share. Splunk also raised its forecast, further boosting investor confidence.

Nvidia

Nvidia, a chip stock, experienced a nearly 9% surge after reporting its second-quarter results. The company earned $2.70 per share, excluding items, on $13.51 billion in revenue. Analysts had forecasted earnings of $2.09 per share and $11.22 billion in revenue. This positive performance also had a ripple effect on other semiconductor stocks.

Snowflake

Shares of Snowflake rose by nearly 3% after surpassing earnings expectations. The company reported a profit of 22 cents per share, adjusted, on $674 million in revenue. Analysts had predicted profits of 10 cents per share on $662 million in revenue.

Taiwan Semiconductor, AMD, Marvell

Semiconductor stocks, including Taiwan Semiconductor, AMD, and Marvell, experienced gains following Nvidia's strong second-quarter earnings report. Taiwan Semiconductor saw a 3% increase, while AMD and Marvell gained 3.9% and 5.3%, respectively.

Guess

Guess, a fashion stock, witnessed a significant surge of nearly 19% after reporting earnings of 72 cents per share, adjusted, on $664.5 million in revenue for the latest quarter. This positive performance indicates strong market demand for the company's products.

Super Micro Computer

Super Micro Computer's shares climbed 8.4% following Nvidia's impressive earnings report. Analysts at Loop Capital reiterated a buy rating on Super Micro Computer stock, with expectations that Nvidia's strong performance could positively impact the company's stock.

Autodesk

Autodesk, a software stock, experienced a 5% increase after reporting its second-quarter results. The company earned $1.91 per share, adjusted, on $1.35 billion in revenue. Analysts had predicted earnings of $1.73 per share and $1.32 billion in revenue. In conclusion, these companies' stock movements in extended trading reflect their performance against market expectations. Positive earnings beats and raised forecasts have led to significant increases in share prices, signaling investor confidence in these companies' future prospects. The strong performance of Nvidia has also had a positive impact on related semiconductor stocks. Traders and investors should closely monitor these developments and assess their potential implications for the broader market.

Implications for New Businesses

The significant stock movements of companies like Nvidia, Splunk, Snowflake, Taiwan Semiconductor, AMD, Marvell, Guess, Super Micro Computer, and Autodesk in extended trading have important implications for new businesses.

Understanding Market Expectations

These companies' performance against market expectations, as reflected in their stock movements, highlights the importance of meeting or exceeding earnings forecasts. For new businesses, this underscores the need to manage market expectations effectively and deliver strong financial results.
The Ripple Effect
Nvidia's strong performance not only boosted its own stock but also had a positive impact on related semiconductor stocks. This ripple effect demonstrates how a company's performance can influence others in the same industry. For new businesses, this means that industry trends and the performance of key players can significantly impact their own stock performance. In conclusion, the stock movements of these companies in extended trading offer valuable insights for new businesses. They highlight the importance of meeting market expectations, delivering strong financial results, and understanding industry trends. While these companies' success stories may not be directly replicable, their strategies and the market reactions to their performance can serve as important lessons for new businesses navigating the complex world of stock trading.
Story First Published at: https://www.cnbc.com/2023/08/23/stocks-making-the-biggest-moves-after-hours-nvda-splk-adsk-and-more.html
Brought to you by BusinessFormation.io
Know Your State's Registered Agent Requirements: What is a Registered Agent
Learn How To Create An LLC: What Is An LLC and How To Start an LLC Online

LLC Filing & Registered Agent Services

Compare Online LLC Filing Services Today

We work with the market leaders in business formation and registered agent services.

Getting started is simple and inexpensive. Form your business today & secure your brand name before someone beats you to it! Click below to view the Top 3 Best LLC and registered agent service providers.
View Top 3 Providers Now
x

Filing An LLC Can Be Complicated

Streamline Your LLC Filing Online for $39

Northwest Registered Agent is the best-rated service for first time filers.

Get professional LLC formation & registered agent services for only $39 + state filing fee. This offers includes your full LLC setup, plus a private business address, lifetime support, and more.

Trusted by Millions. Save 82% Today.