After Hours Summary: FDX +6.1% up nicely on earnings; RIVN -11.4%, EXFY -6.4%, SCS -6.2% fall on earnings; X -3.4% lowers EBITDA guidanceAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: FDX +6.1% (also authorizes new $5 bln share repurchase program), NX +0.6%
Companies trading higher in after hours in reaction to news: UIHC +7% (UIHC to transition its personal lines insurance business in GA, NC, and SC, to HCI), FOUR +4.8% (approves $100 mln share repurchase program), LYEL +4.5% (FDA clears IND application to initiate Phase 1 trial for LYL797), UPS +2.3% (in sympathy with strong FDX earnings report), REI +2.3% (increases Q4 sales guidance), NAAC +1.5% (announces business combination with TeleSign), CO +0.8% (rejects non-binding proposal from Alternate Ocean Investment Co), MOS +0.8% (releases November sales and volume data), LMT +0.8% (awarded a $286 mln contract modification from Saudi Arabia), K +0.3% (signs new tentative union labor agreement), FMC +0.1% (increases dividend), BA +0.1% (awarded $398 mln contract for the Royal Saudi Air Force)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: RIVN -11.4%, EXFY -6.4%, SCS -6.2%, X -3.4% (guides Q4 adjusted EBITDA below consensus)
Companies trading lower in after hours in reaction to news: GM -2.6% (Cruise CEO Dan Ammann to leave the company), TTI -2.1% (TTI and EOSE sign term sheet regarding supply and collaboration agreement), TSHA -1.6% (initiates clinical development of TSHA-118 for treatment of CLN1 disease), LXFR -0.2% (taking multiple actions related to U.S. and U.K pension plans), TFII -0.1% (increases dividend), MRK -0.1% (NEJM publishes positive results from its Phase 3 MOVe-OUT trial)