After Hours Summary: Lots of positive Fed Stress resullts from banks, including dividend hikes; CNC -23.7% lower after it withdraws guidance; VRNT +10.3% higher on Bloomberg report that Thoma Bravo in talks to acquire VRNT
After Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: GBX +12.3%
Companies trading higher in after hours in reaction to news: VRNT +10.3% (Thoma Bravo in talks to acquire VRNT, according to Bloomberg), ACOG +6.6% (pre-clinical data for ALPHA-1062; stock offering by selling shareholders), HI +2.3% (completes divestiture of minority stake interest in TerraSource), AMPY +2% (sells non-operated working interest in its Eagle Ford assets), NVTS +1.9% (partnership with Powerchip), AWK +1.7% (announces two acquisitions), JPM +0.5% (Fed Stress Test results, to boost dividend, and $50 bln buyback auth), MS +0.3% (increases dividend; also authorizes renewed $20 bln share repurchase program), SAN +0.2% (Fed Stress Test results), PNC +0.2% (Fed Stress Test results, to increase dividend), TFC +0.1% (Fed Stress Test results), WFC +0.1% (Fed Stress Test results, to increase dividend), BK +0.1% (Fed Stress Test results, to increase dividend)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: CNC -23.7% (withdraws guidance after analyzing industry report), TTGT -10.9%, BV -10.5% (lowers FY25 revenue guidance), STZ -0.5%
Companies trading lower in after hours in reaction to news: DFDV -7.8% ($100 mln convertible notes offering), AVBP -5.7% ($75 mln stock offering), HUM -1.9% (in sympathy with CNC earnings guidance withdrawal), BIGC -1.6% (names former Adobe exec to its Board), LOT -1.4% (acquires 100% equity interest of Lotus Advance Tech), SVRE -1.2% (files for 1.6 mln ADS offering by selling shareholder), UNH -1.2% (in sympathy with CNC earnings guidance withdrawal), LMT -0.4% (awarded a Missile Defense Agency contract with a ceiling of $2.97 bln), AXP -0.2% (Fed Stress Test results), SCHW -0.1% (Fed Stress Test results), PRGO -0.1% (announces strategic organizational update), COF -0.1% (Fed Stress Test results), GS -0.1% (Fed Stress Test results, to increase dividend)