Jeff Bezos, founder of Amazon
Katherine Taylor | Reuters
Check out the companies making headlines after the bell:
Amazon – The e-commerce giant’s stock surged more than 10% in extended trading after the company reported better-than-expected results for the fourth quarter. Amazon reported earnings of $6.47 per share on revenue of $87.44 billion, while analysts expected earnings of $4.03 per share on revenue of $86.02 billion, according to Refinitiv consensus estimates. The company highlighted strong revenue from its continuing growth of Prime membership and its cloud business, which picked up $9.95 billion in revenue in the fourth quarter, growing faster than analysts had expected. The company also gave upbeat guidance for the current quarter, saying it now expects to report revenue between $69 billion and $73 billion.
Amgen – The biotechnology company’s stock dropped more than 2% in extended trading after the company beat analysts’ earnings estimates but revenue came up short. Amgen reported earnings of $3.64 per share excluding some items on revenue of $6.20 billion, while analysts expected earnings of $3.47 per share on revenue of $6.06 billion, according to Refinitiv.
Visa – Shares of the financial services company dropped more than 3% in extended trading after it matched earnings but missed on revenue. Visa reported quarterly earnings of $1.46 per share and revenue of $6.05 billion. Wall Street expected $6.08 billion in revenue, according to Refinitiv consensus estimates.
Navistar – The manufacturing company stock surged over 50% in extended trading after Bloomberg reported that Volkswagen is in advanced talks to buy the rest of the truck maker on Thursday in a deal worth $2.9 billion.
Western Digital — Shares of the data storage company jumped nearly 6% in extended trading after reporting second-quarter earnings that beat analyst expectations on the top and bottom line. Western Digital also provided strong third-quarter earnings and revenue guidance.
IBM — The information technology company’s stock climbed about 5% in extended trading after the company announced that CEO Virginia “Ginni” Rometty would be stepping down and Arvind Krishna would take over. The change is effective on April 6.
Electronic Arts — Shares of the video game maker dropped 3% in extended trading despite beating analyst estimates for revenue in the third quarter. EA reported earnings of $1.98 billion, while analysts were expecting $1.97 billion, according to Refinitiv consensus estimates.
Levi Strauss – The clothing company’s stock briefly climbed in extended trading after the company beat earnings estimates but missed on revenue. The company said year-over-year net revenue growth was affected by a “lack of Black Friday benefit” along with the acquisition of a South American distributor. Levi Strauss reported earnings of 26 cents per share excluding certain items on revenue of $1.57 billion, while analysts expected earnings of 21 cents per share on revenue of $1.58 billion, according to Refinitiv. The company gave upbeat guidance for 2020, projecting an earnings per share of $1.18 to $1.22 compared to a consensus estimate of $1.17 per share.
CNBC’s Chris Eudaily contributed to this report.
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