Check out the companies making headlines after hours Tuesday.
Netflix — shares slipped more than 6% after the company missed estimates for the third quarter. The streaming giant earned $1.74 per share compared with the $2.14 expected by analysts polled by Refinitiv. Revenue came in at $6.44 billion, which was ahead of the $6.38 billion expected. The company also missed estimates on the all-important subscriber additions. The company said its global paid net subscriber additions hit 2.2 million, compared with the expected 3.57 million, according to estimates from FactSet.
Parsley Energy — shares of the oil and gas company slid 2% after the company said it had agreed to be acquired by Pioneer Natural Resources in an all-stock transaction valued around $4.5 billion. Under the terms of the deal, Parsley shareholders will receive 0.1252 shares of Pioneer stock per share of Parsley stock owned.
Snap — shares of the social media company jumped more than 20% after Snap reported a surprise earnings beat for the third quarter. The company reported earnings of one cent per share on an adjusted basis, which was ahead of the 5-cent loss expected by analysts surveyed by Refinitiv. Revenue came in at $679 million, which exceeded expectations of $555.9 million. Snap said it had 249 million daily active users during the quarter, ahead of the 244.12 million expected by analysts polled by FactSet.
Texas Instruments — shares of the company rose more than 1% after the semiconductor name beat top- and bottom-line estimates during the third quarter. The company earned $1.45 per share on revenue of $3.82 billion. Analysts surveyed by Refinitiv expected earnings of $1.28 per share and $3.45 billion in revenue.
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Published at Tue, 20 Oct 2020 21:13:29 +0000-Stocks making the biggest moves after hours: Netflix, Snap, Texas Instruments & more