Stocks making the biggest moves after hours: Micron, Williams-Sonoma, Guess and more

Stock Market

Check out the companies making headlines after the bell:

Shares of Micron rose slightly in extended trading Wednesday following the release of the company’s better-than-expected second-quarter earnings. Beating on the top and bottom line, the chipmaker reported earnings per share of $1.71 on revenue of $5.84 billion. Wall Street had estimated earnings per share of $1.67 on revenue of $5.82 billion, according to Refinitiv.

Micron’s revenue compares to the $7.35 billion they earned in the same period last year. Micron President and CEO Sanjay Mehrotra cited a “challenging market environment” for the revenue decline in the company’s earnings release.

Williams-Sonoma shares surged as much as 10 percent after hours Wednesday based on strong fourth-quarter earnings and 2019 guidance. The retail company’s earnings per share were $2.10, topping Refinitiv estimates of $1.96. Revenue was $1.84 billion, beating estimates of $1.80 billion.

Williams-Sonoma same-store sales increased 2.4 percent, compared the 2.5 percent increase forecast by analysts. The company also announced a $500 million stock buyback program. The company increased its dividend 12 percent to 48 cents. The stock has since lost most of its gains, but was still trading 2 percent higher.

Shares of Guess plummeted more than 12 percent after market close Wednesday following mixed fourth-quarter earnings. The clothing company reported $837 million in revenue, beating a Refinitiv estimate of $831 million. Earnings per share were 70 cents, compared to the 75 cents forecast by analysts.

Herman Miller shares jumped more than 3 percent in extended trading Wednesday after issuing strong fourth-quarter guidance. For the third quarter, the furniture company reported earnings per share of 64 cents on revenue of $619 million. Analysts expected earnings per share of 60 cents on revenues of $623 million.

Herman Miller expects fourth-quarter earnings per share to be between 76 cents and 80 cents, compared to the estimated 72 cents. The company sees revenue between $645 million and $665 million, versus estimates for $655 million.

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