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Aug 2, 2018

After the Bell: Stocks making the biggest moves after hours: GPRO, AIG & more I CNBC

cnbc.com

Stocks making the biggest moves after hours: GPRO, AIG & more

Amelia Lucas


A man tries out a GoPro HERO5 Black  Josh Edelson | AFP | Getty Images
A man tries out a GoPro HERO5 Black 
Check out the companies making headlines after the bell:
GoPro shares rose as much as 10 percent before giving up most of its gains in the extended session after reporting smaller-than expected losses for its second quarter. The camera tech company reported a loss of 15 cents per share versus the loss of 22 cents per share estimated by Wall Street. Revenues for the quarter of $283 million also beat estimates of $270 million from analysts.
AIG stock was down more than 5 percent during after-hours trading after missing earnings estimates by 16 cents for its second quarter. The insurance firm reported earnings of $1.05 per share, while Wall Street estimated earnings would hit $1.21 per share. The company also missed on revenue, reporting $11.63 billion for the quarter, down from the $11.99 billion expected by analysts.
Symantec stock plunged more than 8 percent in after-hours trading following the release of its first quarter results and weak earnings guidance for next quarter. The software company said it expects earnings for its second quarter to be between 31 and 35 cents, while Wall Street estimated it would be 38 cents.
Take-Two Interactive shares jumped nearly 12 percent during after-hours trading after beating revenue estimates for its first quarter. The video game company reported revenue of $288 million, $30 million more than the $258 million expected by Wall Street. Earnings for the quarter were 62 cents, but it is unclear if the company's numbers are comparable to Wall Street estimates of 7 cents.
Shake Shack shares dropped nearly 6 percent in extended-hours trading after the company issued a weak same-store sales outlook and did not change its full-year revenue forecast, despite posting strong earnings for its second quarter. The New York City-based company said in its second quarter earnings release that it expects same-store sales to increase from 0 percent to 1 percent year over year in 2018. Shake Shack believes its total 2018 revenue will be between $446 million and $450 million.
The milkshake and burger chain beat estimates for both its top and bottom line in its second quarter. It reported earnings of 29 cents per share versus estimates of 18 cents per share and revenues of $116 million versus the $111 million expected by Wall Street.