After Hours Summary: LZB +6.5% nicely higher on earnings and dividend hike; ON +3.2% on $6 bln buyback program; IPAR -5% after downside guidance
After Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: LZB +6.5% (also increases dividend), POWL +0.5%, GBDC +0.3%
Companies trading higher in after hours in reaction to news: KZIA +57.6% (achieves initial iCR in Metastatic TNBC; also Q4 business update) ONIT +5.6% (subsidiary enteres strategic relationship with Finance of America Reverse), ON +3.2% (authorizes new $6 bln share repurchse program), SPIR +2.9% (ships satellites to Vandenberg Space Force Base), ELDN +2.6% (data from early patients treated with Tegoprubart), CEG +2.5% (confirms Crane Clean Energy Center backed by $1 bln DoE loan), NXST +2% (seeks approval of TEGNA (TGNA) acquisition), NC +1.8% (authorizes new $20 mln share repurchase program), MKC +1.4% (increases dividend), WBD +1.1% (its Board wants Paramount to lift offer to around $30/share from $23.50, according to Axios), RGLD +0.8% (increases dividend), REXR +0.2% (promotes COO to CEO; also highlights strategic and financial priorities)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: IPAR -5% (guidance), DLB -2%
Companies trading lower in after hours in reaction to news: PLUG -21.5% (convertible notes offering), EOSE -5.7% (convertible notes offering; also proposed direct offering of common stock to fund repurchase of convertible notes), OLMA -3% (public offering of common stock and pre-funded warrants), ALAB -1.1% (Leo CXL Smart Memory Controllers on Microsoft (MSFT) Azure M-series virtual machines), POWI -0.7% (names new CFO)