Stocks making the biggest moves after hours: Enphase Energy, PacWest Bancorp, Chipotle, Microsoft and more

Finance

In this article

3,760 Enphase microinverters will power the drying and storage of more than 50,000 tons of California rice at Strain Ranch in Arbuckle, Calif., Tuesday, Feb. 19, 2013.
Alison Yin | AP

Check out the companies making headlines in extended trading.

Enphase Energy — The solar inverter company saw shares slide about 16% after hours after reporting a mixed quarter that included disappointing revenue results. Enphase brought in revenues of $726 million. Analysts were looking $732.5 million, according to Refinitiv. Competitor SolarEdge slid more than 6%.

PacWest Bancorp — Shares of the regional bank jumped 15% after PacWest said it has seen deposit inflows over the past month. PacWest said deposits fell more than 16% during the first quarter to roughly $28.2 billion. However, the bank said it has added about $1.8 billion in deposits since March 20, which was its prior update to investors. That sum includes $700 million in deposits in April. PacWest also reported a net loss of $1.21 billion for the quarter, due largely to a goodwill impairment charge.

Chipotle Mexican Grill — The burrito chain jumped 7.7% after hours following the company’s latest financial results. Chipotle’s earnings and revenue for the first quarter beat estimates by analysts surveyed by Refinitv. Same-store sales rose 10.9%, topping StreetAccount estimates of 8.6%. 

Microsoft — The tech giant’s shares rose nearly 5% after the company reported quarterly earnings and revenue that exceeded analysts’ expectations, according to Refinitiv. Revenue in Microsoft’s Intelligent Cloud business segment grew by 16% to $22.08 billion, coming in higher than analysts predicted.

Alphabet — The Google parent saw shares rise 4% after it posted first-quarter revenue that topped estimates, according to Refinitiv, and said reported a profit in its cloud business for the first time on record. The company’s board also authorized a $70 billion share buyback. Big Tech peers Amazon and Meta gained about 2% each.

Texas Instruments — The chipmaker gained nearly 2% after reporting better-than-expected earnings for the first quarter and revenue that was in line with estimates, according to Refinitiv.

Visa — The payments giant rose almost 2% in extended trading after reporting adjusted earnings of $2.09 per share on revenues of $7.99 billion for its latest quarter, according to Refinitiv. Analysts were expecting earnings of $1.99 per share on revenues of $7.79 billion.

 — CNBC’s Jesse Pound contributed reporting

Articles You May Like

Mortgage demand drops again as rates cross back over 7%
Snowflake shares plunge 12% on guidance miss, acquisition of search startup Neeva
Are lower-income Americans paying for wealthy consumers’ credit card rewards? Some economists say they are
Top Stock Picks for Week of May 22, 2023
Best Buy shares rise on earnings beat, even as electronics sales slow