Stocks making the biggest moves after hours: FedEx, Tencent Music and more

Stock Market

Check out the companies making headlines after the bell:

Shares of FedEx fell more than 5 percent in extended trading Tuesday following the release of the logistic company’s disappointing third-quarter earnings and weak full year outlook. FedEx posted earnings per share of $3.03 on revenue of $17.01 billion. Wall Street estimated earnings per share of $3.11 on revenue of $17.67 billion, according to Refinitiv.

FedEx also slashed its full-year guidance for the second quarter in a row citing slowing global trade. For 2019, FedEx sees earnings per share between $15.10 and $15.90, compared to the estimated $15.97.

Shares of shipping company UPS also dipped about a percent.

Tencent Music shares fell more than 7 percent after hours Tuesday despite reporting strong fourth-quarter earnings. The Chinese music streaming company reported RMB 5.40 billion in revenue, topping Refintiv estimates of RMB 5.29 billion. Earnings per share were RMB 0.57, beating estimates of RMB 0.56.

Shares of Smartsheet surged more than 9 percent after the bell Tuesday based on strong fourth-quarter earnings. The software company posted revenue of $52.2 million, compared to the $49.8 million forecast by analysts. Smartsheet reported a loss of 7 cents. Analysts’ were expecting a loss of 14 cents.

Steelcase shares rose more than 7 percent percent in extended trading Tuesday after reporting better-than-expected fourth-quarter earnings. The furniture company reported earnings per share of 29 cents on revenue of $912 million. Analysts expected earnings of 26 cents on revenue of $871 million.

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