After Hours Summary: AMD lowering Q3 guidance due to PC weakness causing many PC-related stocks to head lower; CVS -4.6% as Medicare issues 2023 Star Ratings; TWTR -1.4% trial stayed by Delaware court until Oct 28After Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: AEHR +11.7% (also releases two new enhancements for its FOX-P family of wafer level test and burn-in systems), ACCD +0.5%
Companies trading higher in after hours in reaction to news: ALLO +12.2% (initiates industry's first allogeneic CAR T Phase 2 trial), DKNG +9.3% (DKNG and Disney's ESPN close to signing partnership, according to The Action Network), ATCO +7.3% (continues negotiations with Poseidon Acquisition; parties have made meaningful progress on potential transaction at $15.50/sh), PAYO +7.1% (to join S&P SmallCap 600), MSGS +6.6% (declares special div of $7.00/sh; authorizes a $75 mln ASR program), LYEL +6.4% (FDA clearance for its IND for LYL845), TECK +4.1% (provides Q3 steelmaking coal sales volumes and realized prices), GFF +3.3% (strategic review process remains active and ongoing; expects update by the end of Nov), LAND +0.8% (comments on recent price volatility), MDLZ +0.7% (reaffirms long-term growth strategy)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: LEVI -5.8%, AMD -3.9% (lowers Q3 revenue guidance, cites weak PC demand and a significant inventory correction in PC supply chain)
Companies trading lower in after hours in reaction to news: LNTH -5.9% (to move to S&P MidCap 400 from S&P SmallCap 600), CVS -4.6% (Medicare issues 2023 Star Ratings for Medicare Advantage and Part D prescription drug plans; CVS says change in Star Ratings not projected to have any impact on FY22 guidance), LOGI -3.3% (PC-related stocks lower on AMD guidance), WDC -2.9% (PC-related stocks lower on AMD guidance), NVDA -2.8% (PC-related stocks lower on AMD guidance), INTC -2.7% (PC-related stocks lower on AMD guidance), DELL -2.7% (PC-related stocks lower on AMD guidance), HPQ -1.8% (PC-related stocks lower on AMD guidance), NTAP -1.5% (PC-related stocks lower on AMD guidance), TWTR -1.4% (trial stayed by Delaware court until Oct 28), CLOV -1.2% (debuts its 2023 Medicare Advantage plans), QCOM -1.2% (PC-related stocks lower on AMD guidance), MU -0.9% (PC-related stocks lower on AMD guidance), STX -0.6% (PC-related stocks lower on AMD guidance), AVGO -0.5% (PC-related stocks lower on AMD guidance), DIS -0.5% (DKNG and Disney's ESPN close to signing partnership, according to The Action Network), UAL -0.4% (planning to have electric aircraft flying routes by 2030, according to CNBC), MSFT -0.4% (PC-related stocks lower on AMD guidance), TXN -0.4% (PC-related stocks lower on AMD guidance), TRGP -0.3% (to join S&P 500), PTON -0.2% (CEO issues statement; says he joined for the comeback story, not to sell the business)