After Hours Summary: Fed Stress Tests came out, all 31 large banks have sufficient capital; LEVI -11.3%, MU -7.1%, AVAV -6.9% lower on earnings; IIIV jumps +26.3% on deal to sell merchant of record payments business; VRNA +22.4% on FDA approval
After Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: BB +8.1%, FUL +4.8%, CNXC +4.3%, WS +3.9%, FC +2.8%, JEF +0.8% (also increases dividend)
Companies trading higher in after hours in reaction to news: IIIV +26.3% (to sell merchant of record payments business for $440 mln in cash), VRNA +22.4% (FDA approves Ohtuvayre), ATEX +16.5% (Oncor Electric to acquire 900 MHz broadband spectrum from ATEX; ATEX also reports earnings), TSVT +5.8% (TSVT sells certain gene editing technology to NVO for $40 mln), AMAT +1.8% (in sympathy with weak MU earnings), GROY +1.5% (stock offering by selling shareholder), LMT +0.6% (awarded $534 mln U.S. Navy contract modification), MARA +0.3% (announces Kaspa mining ops), NVO +0.2% (TSVT sells certain gene editing technology to NVO for $40 mln), BA +0.2% (resumes widebody deliveries to China, according to Reuters), CTGO +0.2% (stock offering by selling shareholders), BX +0.1% (several banks reacting to Fed Stress Test results), MO +0.1% (announces PMTA submission for on! PLUS Nicotine Pouches)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: LEVI -11.3% (also increases dividend), MU -7.1%, AVAV -6.9%, MLKN -1%
Companies trading lower in after hours in reaction to news: RXRX -7.9% ($200 mln stock offering), ADUS -5.5% (1.5 mln share offering), PVH -3.1% (in sympathy with weak LEVI earnings), KTB -3% (in sympathy with weak LEVI earnings), WDC -2.3% (in sympathy with weak MU earnings), CFG -2.3% (several banks reacting to Fed Stress Test results), BKE -1.9% (in sympathy with weak LEVI earnings), GS -1.8% (several banks reacting to Fed Stress Test results), CTRI -1.7% (CEO to step down to become CEO at AEP), AEO -1.5% (in sympathy with weak LEVI earnings), NVDA -1.4% (in sympathy with weak MU earnings), TER -1.3% (in sympathy with weak MU earnings), WFC -1.3% (several banks reacting to Fed Stress Test results), RKT -1.1% (names new COO), OXM -1% (in sympathy with weak LEVI earnings), GPS -1% (in sympathy with weak LEVI earnings), AVGO -0.7% (in sympathy with weak MU earnings), MS -0.7% (several banks reacting to Fed Stress Test results), USB -0.4% (several banks reacting to Fed Stress Test results), BAC -0.3% (several banks reacting to Fed Stress Test results), STX -0.1% (in sympathy with weak MU earnings)