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Tuesday, May 21, 2024

Top stock movers after hours: iRobot, Super Micro Computer Inc., PPG, J.B. Hunt Transport Services

Welcome to the latest edition of our magazine! Today, we’re taking a look at some of the top companies making headlines after the bell. From paint and coatings to information technology to fast-food restaurants, there’s a lot to cover. So, let’s dive in and see what’s been happening in the world of business.

First up, we have PPG Industries. The paint and coatings firm saw its shares slide 1% after issuing guidance for first-quarter earnings that fell below analyst expectations. In addition, the lower end of PPG’s range for full-year earnings guidance also missed the mark. However, it’s not all bad news for PPG. The company’s earning and revenue for the fourth quarter of 2023 actually surpassed what analysts had anticipated, so there are some bright spots on the horizon.

Next, we turn to Super Micro Computer. This information technology firm saw its shares gain 6% after reporting preliminary second-quarter adjusted earnings and revenue that exceeded previous guidance. With adjusted earnings coming in higher than expected and revenue topping prior estimates, Super Micro is showing some strong performance in the market.

Moving on to J.B. Hunt Transport Services, which saw its shares add 3% after posting mixed fourth-quarter results. While the company’s earnings per share fell short of analyst forecasts, J.B. Hunt’s revenue actually exceeded expectations. It’s a bit of a mixed bag, but overall, the company seems to be on solid footing.

In the fast-food world, Wendy’s Company made some waves by naming PepsiCo executive Kirk Tanner as its new CEO. This move caused the fast-food restaurant’s stock to jump 1% in after-hours trading. With a new leader at the helm, Wendy’s is looking to navigate through some challenges, including pressure from activist investor Blackwells Capital.

Lastly, we have iRobot, the manufacturer of the popular Roomba. Unfortunately, iRobot’s shares tumbled more than 30% after reports that the European Union’s antitrust watchdog expects to block Amazon’s acquisition of the company. It’s a setback for iRobot, but like any innovative company, they may have other plans in the works.

Overall, it’s been an eventful evening for these companies. From shifts in leadership to mixed financial results to unexpected developments, the after-hours market has certainly been lively. As always, we’ll continue to keep a close eye on these stories and provide updates as they unfold.

That’s it for this edition of our magazine. Thanks for joining us, and we look forward to bringing you more exciting business news in the future!

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