Shares of Tableau Software plummeted after the bell Thursday despite posting better-than-expected earnings and revenue in the fourth quarter of 2015. The software company, which makes programs that quickly analyze, visualize and share information, warned it was unlikely to benefit from certain tax allowances it had expected. Shares of competitor Splunk also notched double-digit declines in extended trade.
Fellow technology company LinkedIn also saw a steep stock decline after giving first-quarter guidance that was lower than analysts had forecast. LinkedIn said it expects revenue of about $820 million and non-GAAP earnings of about 55 cents per share.
Wall Street had, on average, expected about $868.3 million in revenue and earnings of 75 cents per share for that quarter, according to StreetAccount. It comes after two competitors, Facebook andAlphabet, reported soaring advertising revenues in their quarterly reports.
Lions Gate Entertainment’s stock dropped after it announced 27 cents per share of profit on revenue is $670.5 million in the latest quarter, falling short of the 40 cents on $791 million expected by Thomson Reuters analysts. The media company behind franchises like “Orange is the New Black” and “Hunger Games” movies said its “theatrical film slate” performed weaker than anticipated, but its television business was expected to do well.
The maker of Ugg boots, Deckers Outdoor, also saw shares slip after reporting earnings. Though the California-based company beat Wall Street’s profit estimates, sales fell short: It posted revenue of $795.9 million, below the $832 million expected by Thomson Reuters analysts.
Genworth Financial shares were lower after reports the insurance and investment company would restructure and suspend sales of traditional life insurance and fixed annuity products.
“Our decision to suspend new sales of these products in no way diminishes our commitment to providing service to our existing 2.8 million life and annuity policy and contract holders and their beneficiaries,” CEO David O’Leary said, in a statement.
Shares of cybersecurity firm Symantec saw shares pop after it announced a $500 million strategic investment from private equity firm Silver Lake. As part of the deal, the company will return more cash to shareholders through share repurchases and special dividends, according to a joint statement.
Cloud and network technology company Ubiquiti Networks bounced after the bell when it posted quarterly revenues of $161.9 million with adjusted EPS of 58 cents per share, beating the 51 cents per share on $159 million expected by Thomson Reuters analysts.
HanesBrands’ stock sank after it also missed earnings expectations. The basic-apparel maker reported adjusted EPS of 44 cents per share, below the 46 cents expected by Thomson Reuters consensus estimates, despite record net sales.
“We delivered our third consecutive record year in 2015, although we are disappointed with our fourth-quarter performance,” CEO Richard Noll said, in a statement.
[“source -pcworld”]
