© REUTERS After-hours movers: Intel sinks after soft forecast, and more
After-Hours Stock Movers:
Intel (NASDAQ:) stock fell 8.8% despite reporting solid results to end 2023. The chipmaker’s forecast for the first quarter of 2024 was significantly weaker than investors were expecting.
KLA Corporation (KLAC) stock fell 5% after its forecast for the third quarter failed to meet expectations, despite strong second quarter results.
Western Digital (NASDAQ:) declined 6% despite reporting a smaller than expected loss for the quarter and issuing guidance that topped consensus. Its stock climbed in the days leading up to the print.
PTC Therapeutics, Inc. (NASDAQ:) declined 12% after it announced that Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issued a negative opinion following the re-examination procedure for the conditional marketing authorization of Translarna.
Tellurian (NYSE:) stock climbed 11% following a report from Bloomberg that said the LNG developer hired Lazard to explore a potential sale.
Levi (LEVI) shares declined 2.6% after it issued 2024 guidance that missed estimates and announced plans for a 10% to 15% reduction of its global corporate workforce.
L3Harris Technologies (NYSE:) stock declined 3% after its forecast for 2024 came in weaker than expected, despite strong fourth quarter results.
Visa (NYSE:) shares fell 2.8% after it reported quarterly results. EPS beat consensus but it wasn’t enough to impress investors. Payments volume for the three months ended December 31, 2023 increased 8% over the prior year on a constant-dollar basis.
By Louis Juricic
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