American Eagle clothing and accessories retailer American Eagle store seen in Tokyo.
Budrul Chukrut | SOPA pictures | Light rocket | Getty Images
Check out the companies that hit the headlines on Wednesday after the bell:
American Eagle Outfitters – The apparel company’s stock rose 4.2% on better-than-expected fourth quarter results. American Eagle had earnings of 39 cents per share on sales of $ 1.29 billion. Analysts polled by Refinitiv expected earnings per share of 36 cents on sales of 1.28 billion US dollars. The retailer also said that like-for-like total sales were only down 1% as strong online sales eased malls’ closings.
Snowflake – Snowflake stock retreated 4% after the company issued a poor full-year sales forecast. The company expects sales between $ 1 billion and $ 1.02 billion in fiscal 2022. Analysts polled by FactSet expected sales of around $ 1.01 billion. This forecast corresponds to sales growth of more than 80% for the full year. This is a slower rate of expansion than the company did in the fourth quarter of its fiscal year.
Okta – The cloud software company’s shares fell 12% after Okta spent $ 6.5 billion to acquire rival Auth0. The deal is expected to close in July. News of the deal overshadowed Okta, reporting better than expected earnings and sales for the previous quarter.
Vroom – The used car dealer’s shares fell 15% after the company released its latest quarterly results. Vroom reported sales of $ 406 million, while analysts surveyed by Refinitiv expected sales of $ 401 million. The company also posted a loss of 46 cents per share, but it wasn’t clear if that compares with Refinitiv’s forecast of earnings per share.