After Hours Summary: DIS +5.5% jumps following earnings and cost cutting moves; APP +28.2%, SONO +15.4%, QNST +10.3% higher on earnings; AFRM -19.6% falls on earnings and job cuts; APPS -18.6%, MAT -12.2%, TTMI -8.9% lower on earningsAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: APP +28.2%, SONO +15.4%, ME +11.5%, QNST +10.3%, FORM +7.5%, CDAY +5.7%, DIS +5.5% (also announces workforce reduction; to ask Board to reinstate dividend by end of calendar year), HOOD +5.2%, MGM +4.9% (also suspends dividend; announces new $2 bln share repurchase program), MPWR +3.7%, CXW +3.2%, PPC +3.1%, WYNN +3%, AZEK +2.4%, XPO +2.4%, PDM +2.1%, TWO +2.1%, ENS +2%, ORLY +2%, PI +2%, PYCR +2%, MMS +1.9%, DHT +1.3%, ULCC +1%, AEIS +0.1%, ASGN +0.1%, EQH +0.1%, FLT +0.1%, SLF +0.1%, WTS +0.1%
Companies trading higher in after hours in reaction to news: CARA +2% (results from the KOMFORT Phase 2 trial), POST +1.5% (POST to acquire select pet food brands from SJM for $1.2 bln in cash and stock), SUMO +1.1% (nearing a $1.7 bln deal to be sold to Francisco Partners, according to WSJ), SJM +0.7% (POST to acquire select pet food brands from SJM for $1.2 bln in cash and stock), CRM +0.7% (Dan Loeb's Third point has stake in CRM, according to WSJ), MMM +0.4% (files mixed securities shelf offering), SPGI +0.3% (SPGI announces new collaboration agreement with AMZN's AWS), CCJ +0.3% (agree on commercial terms to supply Ukraine's full natural UF6), APA +0.2% (successful drilling and flow testing of the Sapakara South-2 appraisal well), JPM +0.2% (eliminates hundreds more mortgage jobs, according to Bloomberg)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: AFRM -19.6% (also announces 19% workforce reduction), APPS -18.6%, MAT -12.2%, VWE -10.4% (issues downside Q2 rev guidance; CEO to transition to Exec Chairman; announces reorganization and simplification of ops), TTMI -8.9% (also to close three manufacturing facilities), STE -8.6%, FROG -5.7%, LNC -5.7%, EFX -5.1%, AZTA -5%, AVB -4.9% (also increases dividend), IFF -4.8%, RPD -2.9%, HI -2.8%, NVST -2.3%, VKTX -2.3%, ACLS -2.2%, STC -2.1%, FWRD -2%, SON -2%, NLY -1%, ESE -0.9%, PTEN -0.8%, PAA -0.2%, RE -0.2%, AB -0.1%, FR -0.1% (also increases dividend), GT -0.1%, RDN -0.1%
Companies trading lower in after hours in reaction to news: PRPL -13% ($50 mln stock offering), APPH -9.1% (commences $40 mln stock offering), LNC -5.7% (names new CFO), GLPG -5.6% (topline results from Phase 3 DIVERSITY trial of filgotinib), NSSC -5.2% (stock offering), RBT -2.8% (stock offering), CCS -1.4% (increases dividend), CURO -0.2% (names new chairman)