Shares Making the Largest Strikes by the Hour: Netflix, Snap, Texas Devices & Extra
Check out the companies that hit the headlines on Tuesday after hours.
Netflix stocks were down more than 6% after missing third-quarter estimates. The streaming giant earned $ 1.74 per share compared to $ 2.14 expected by analysts surveyed by Refinitiv. Revenue was $ 6.44 billion, above the expected $ 6.38 billion. The company also missed estimates of its top subscriber additions. FactSet estimates the number of net paid subscribers worldwide was 2.2 million versus the expected 3.57 million.
Parsley Energy – Shares in the oil and gas company fell 2% after the company agreed to be acquired by Pioneer Natural Resources in an all-stock deal valued at approximately $ 4.5 billion. Under the terms of the transaction, Parsley shareholders will receive 0.1252 Pioneer Shares for each Parsley Share.
The social media company's Snap stocks rose more than 20% after Snap posted a surprise profit jump in the third quarter. The company achieved an adjusted profit of one cent per share, which was higher than the loss of 5 cents expected by Refinitiv. Revenue was $ 679 million, beating expectations of $ 555.9 million. Snap said it had 249 million daily active users for the quarter, up from the 244.12 million expected by analysts surveyed by FactSet.
Texas Instruments – The company's shares rose more than 1% after the semiconductor's name topped sales and earnings estimates in the third quarter. The company earned $ 1.45 per share on sales of $ 3.82 billion. Analysts polled by Refinitiv expected earnings of $ 1.28 per share and revenue of $ 3.45 billion.
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