Micron, Shoe Carnival, Ford and more
Check out the companies making headlines after the bell.
Micron Technology — The semiconductor company’s stock jump 5% in extended trading after Micron posted a double beat on earnings and revenue in the second quarter. The company reported earnings of 45 cents per share excluding some items on revenue of $4.80 billion, while analysts expected earnings of 37 cents per share on revenue of $4.69 billion, according to Refinitiv.
Shoe Carnival — The footwear retailer’s stock soared 12% in extended trading after the company beat estimates on earnings and revenue in the fourth quarter. Shoe Carnival reported earnings of 24 cents per share on revenue of $239.9 million. Analysts polled by FactSet had a consensus of 21 cents per share for earnings and $238.0 million for revenue.
Uber Technologies — The ride-share company’s stock was up 2% in extended trading after Uber said that it was making it easier for its drivers to have more earnings opportunities during the coronavirus outbreak. The company sent drivers an in-app notification with instructions on how to toggle between the Driver view and the Uber Eats Delivery view to make it easier for them to see how they could start delivering food in addition to giving rides. “So far, more than 15% of drivers who have received the message have already completed their first-ever Uber Eats deliveries,” Pierre-Dimitri Gore-Coty, head of Uber Eats, said in a statement on the company’s website.
Ford Motor — The automaker’s stock dropped 1% in extended trading after the company’s credit rating was cut to junk status by the S&P Global Ratings. Ford’s credit dropped from BBB- to BB+, according to a statement from the S&P. The agency also put Ford’s rating on CreditWatch. “The coronavirus has delivered supply-side and demand-side shocks to light-vehicle demand,” S&P said in explaining its rationale behind the decision.
Boyd Gaming — Shares of the gaming company fell 2% after the bell. The company announced Wednesday that it was suspending its quarterly dividend and withdrawing annual guidance because of the impact of the coronavirus on its operations. All of Boyd’s operations are currently closed in order to prevent the virus from spreading.