Stocks making the biggest moves after hours: Snap, Gap and more
Check out the companies making headlines after the bell:
Snap — Shares of the social media platform jumped more than 6% in volatile after-hours trading after the company’s first-quarter earnings report. Snap missed Wall Street expectations for profit and sales, and forecast disappointing revenue growth in the current quarter. However, daily users grew 18% annually, which was more than expected.
Gap — Shares of the retailer plunged 10% after the company announced the CEO of its Old Navy division, Nancy Green, is leaving the business this week. In light of execution challenges within its Old Navy business, Gap also slashed its outlook for net sales growth in fiscal 2022.
FirstEnergy — Shares of the energy company dipped more than 1% in extended trading after the firm reported first-quarter earnings that came in lower than expected. FirstEnergy reported adjusted operating earnings per share of 60 cents, missing the 62 cents estimate per Refinitiv. Its revenue beat expectations, however.
PPG Industries — The materials company saw its shares rise about 1% in after-hours trading after better-than-expected quarterly results. PPG posted earnings of $1.37 per share, beating Refinitiv’s estimate of $1.11 per share. The company reported revenue of $4.3 billion, also topping expectations.