Stocks with the biggest fluctuations after hours: AAL, HOOD, BOX
Check out the companies making headlines in after-hours trading: Robinhood – The retail brokerage firm added 4.5% after the company announced a $1 billion stock buyback program. A press release said Robinhood management expects to implement the program over a period of two to three years, starting in the third quarter of 2024. Cava Group – Shares fell 5% in trading overtime even though the restaurant chain posted first-quarter earnings and revenue that significantly exceeded expectations. Cava reported earnings of 12 cents per share on revenue of $259 million, while analysts polled by LSEG predicted earnings of 4 cents per share on revenue of $246 million. Cava shares hit a 52-week high earlier Tuesday. Box – The cloud storage company added 1.2% on better-than-expected earnings and revenue. Box reported adjusted earnings of 39 cents per share, while analysts polled by LSEG expected earnings of 36 cents per share. Revenue reached $264.7 million, exceeding expectations of $262 million for the quarter. Microchip Technology – Microchip shares fell 2.8% after the company announced it aims to raise $1.1 billion in senior convertible notes due 2030 in a private offering, subject to terms market conditions and other factors. American Airlines – This airline slid more than 6%. American Airlines cut its revenue outlook for the second quarter. It also expects adjusted earnings of $1 to $1.15 per share in the period, compared with previous guidance of $1.15 to $1.45 per share, according to regulatory filings. . The updated outlook for adjusted earnings was also below the FactSet consensus of $1.30 per share. United Airlines – Shares fell 2% after the airline provided an update on its financial outlook. According to a regulatory filing, United reaffirmed its second-quarter earnings outlook of $3.75 and $4.25 per share. – CNBC’s Darla Mercado contributed reporting.
