Several major stocks experienced significant price movements in extended trading, with Hewlett Packard Enterprise (HPE) leading the decline. The company’s weak guidance for the fiscal second quarter led to a 17% drop in shares. HPE also announced plans for layoffs as part of its cost reduction program.
On the other hand, Gap Inc. saw its shares surge 15% after beating Wall Street’s estimates in its fiscal fourth quarter. The clothing retailer reported earnings of 54 cents per share and same-store sales growth of 3%.
Broadcom Corporation was a major gainer after the company’s fiscal first-quarter results surpassed analyst estimates. Shares rose 17% as Broadcom issued rosy guidance for the current quarter.
Other notable movers included Mobileye Global, which saw shares jump over 3% after a stake by hedge fund Point72, led by Steve Cohen, was revealed. Walgreens Boots Alliance’s shares also popped nearly 6% before being halted on news of its $10 billion deal to be taken private.
Samsara Corporation and Cooper Cos were among the weaker performers, with Samsara slipping 4% after issuing first-quarter guidance that largely aligned with expectations, while Cooper’s revenue missed Wall Street’s estimates by nearly 3%. BigBear.ai stock fell over 12% following a warning about federal contract disruption.
Source: https://www.cnbc.com/2025/03/06/stocks-making-the-biggest-moves-after-hours-gap-avgo-hpe-iot.html