Pedestrians walk past Yum! Marche Shanghai, China
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Check out the companies making headlines in extended trading.
Yummy China — Shares of the restaurant franchisor fell 3.4% after mixed second-quarter results. The company reported adjusted earnings per share of 47 cents on sales of $2.65 billion. Analysts polled by Refinitiv had expected earnings per share of 46 cents on sales of $2.68 billion. Management noted that same-store sales at all restaurants were still below pre-pandemic levels.
ZoomInfo Technologies – Shares fell 17% in extended trading after the company provided a weak outlook for third-quarter sales. According to Refinitiv, the data company expects revenue of between $309 million and $312 million, while analysts were forecasting $326 million. ZoomInfo’s revenue also fell short of expectations last quarter at $309 million, while analysts estimated $311 million.
Western Digital — The data storage company’s stock rose 2% after its better-than-expected earnings report for the fourth fiscal quarter. Western Digital posted a loss of $1.98 per share on revenue of $2.67 billion. According to Refinitiv, analysts had estimated a loss of $2.01 per share on sales of $2.53 billion.
Arista Networks — Shares rose more than 11% after the company’s quarterly earnings beat analysts’ expectations. According to Refinitiv, Arista reported adjusted earnings of $1.58 per share versus the analyst consensus estimate of $1.44 per share. Revenue was also higher than expected at $1.46 billion compared to analysts’ expectations of $1.38 billion.
lattice semiconductor – The stock fell 2.6% after management noted that the company was “not immune to macroeconomic challenges” affecting the chip sector. Lattice reported second-quarter adjusted earnings of 52 cents per share on sales of $190.1 million, while analysts polled by FactSet were expecting earnings per share of 51 cents on sales of $188.2 million .
rambus — The stock plummeted more than 8% after the release of second-quarter results. According to Refinitiv, Rambus grossed $120 million while analysts had forecast $133 million. License billing and product sales also declined year-on-year.
Monolithic Energy Systems – Shares lost 3.8% in extended trading on Monday. The low-end of the semiconductor company’s third-quarter revenue guidance came in below analyst estimates. According to FactSet, Monolithic is forecasting third-quarter revenue of $464 million to $484 million, while analysts were forecasting $473.4 million.
SBA communication — Real estate investment trust shares are up more than 4%. The wireless infrastructure company reported revenue of $678.5 million in the second quarter, while analysts were expecting $676.9 million. SBA also announced a newly signed master lease agreement with AT&T.