After Hours Summary: Lots of comments from banks on stress test, many plan to raise dividends; NKE -2.6% falls on earnings/guidance; FTX CEO pours cold water on HOOD -5% M&A talk, according to MarketWatchAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: None
Companies trading higher in after hours in reaction to news: KZR +104.7% (announces positive topline results from the MISSION Phase 2 trial), CRNT +24.4% (AVNW to acquire all shares of CRNT that it does not already own for $2.80/sh), SAVE +5.4% (JBLU increases offer to acquire SAVE), IVR +4.9% (reduces leverage and rotates Agency RMBS portfolio into higher coupons), MS +3.4% (discusses stress test results, to increase dividend and announces $20 bln share buyback plan), EPIX +3% (presents clinical update on EPI-7386), LOVE +2.6% (Lovesac and Joybird resolve patent litigation), GFF +2.5% (declares special cash dividend of $2/sh), GS +1.7% (discusses stress test results, to increase dividend by 25%), HPE +1.2% (announces a new partner program), HBAN +1% (discusses stress test results, exceeded all minimum capital levels), ULCC +1% (JBLU increases offer to acquire SAVE), PH +0.8% (awarded a max $444.4 mln DLA contract for actuators), ONB +0.7% (UMBF to acquire the health savings account business of ONB), C +0.3% (discusses stress test results, intends to maintain current dividend), LMT +0.2% (Sikorsky Aircraft awarded $2.28 bln Army contract; also reduces gross pension obligation by $4.3 bln), COF +0.2% (discusses stress test results, SCB is 3.1%), GILD +0.1% (resubmits NDA to FDA for lenacapavir), JPM +0.1% (discusses stress test results, intends to maintain current dividend)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: JEF -4.5% (also authorizes new $250 mln share repurchase program), CNXC -4.3%, NKE -2.6% (also authorizes new $18 bln share repurchase program), TCOM -0.3%
Companies trading lower in after hours in reaction to news: HOOD -5% (FTX CEO says co not having any active M&A conversations with HOOD, according to MarketWatch), LZB -3.1% (Lovesac and Joybird resolve patent litigation), RF -0.9% (discusses stress test results, to consider increasing dividend), F -0.2% (to recall of about 2,900 F-150 Lightning trucks due to a software issue, according to Reuters), GES -0.2% (completes previously disclosed $175 mln ASR program), STT -0.2% (discusses stress test results, to increase dividend by 10%, to begin its existing share repurchase program in Q4), BAC -0.1% (discusses stress test results, to increase dividend by 5%), BK -0.1% (discusses stress test results, to increase dividend by 9%), JBLU -0.1% (JBLU increases offer to acquire SAVE), CFG -0.1% (discusses stress test results, increases share repurchase authorization to $1 bln; will consider dividend increase)