In extended trading, several companies are making headlines with their performance. Dexcom, the manufacturer of diabetes management devices, saw its shares drop by nearly 7% despite posting a third-quarter adjusted earnings and revenue beat. The company also reaffirmed its full-year revenue guidance, which was in line with FactSet’s estimate. On the other hand, L3Harris Technologies, a defense stock, climbed 4% after reporting a third-quarter beat on both the top and bottom lines. The company reported adjusted earnings of $3.34 per share on revenue of $5.29 billion, surpassing analysts’ expectations.
Capri and Tapestry also had noteworthy developments, with Capri shares plummeting 48% and Tapestry shares surging 12% after a judge blocked their $8.5 billion merger. Tapestry, the owner of Coach and Kate Spade brands, argued that the merger was necessary to compete with luxury brands like Gucci. However, the judge’s decision has led to a different outcome. Meanwhile, Western Digital, a data storage device maker, saw its shares rise by 8.9% after reporting fiscal first-quarter adjusted earnings of $1.78 per share, slightly beating analysts’ estimates.
Kinsale Capital, an insurer, experienced a 4.7% increase in its stock after surpassing Wall Street expectations for operating earnings per share in the third quarter. Joby Aviation, an air taxi company, saw a decline of 8% after announcing a $200 million common stock offering. Skechers, the shoe maker, had a positive performance, with its shares jumping 5.1% following third-quarter earnings that exceeded expectations.
Boyd Gaming, a gaming company, witnessed a 2.6% increase in its shares after reporting stronger-than-expected earnings per share for the third quarter. Capital One, a bank holding company, saw its shares rise by nearly 4% after reporting adjusted earnings of $4.51 per share on revenue of $10.01 billion in the third quarter. Lastly, Deckers Outdoor, the owner of Hoka footwear, surged nearly 9% after reporting earnings of $1.59 per share on revenue of $1.31 billion in the fiscal second quarter.
Overall, these companies have shown a mix of positive and negative performances in extended trading, impacting their stock prices accordingly.