After-Hours Stock Movers:
Discover Financial Services (NYSE:DFS) declined 5.7% after it reported fourth quarter EPS of $1.54, $0.99 worse than the analyst estimate of $2.53. Revenue for the quarter came in at $4.2 billion, slightly better than the consensus estimate of $4.11 billion.
Hertz Global (HTZ) climbed 5% after Morgan Stanley upgraded the stock to ‘overweight’ from ‘equalweight’ with a price target of $15. The upgrade was tied to improving risk-reward following a sharp selloff in the stock.
Alcoa (NYSE:AA) declined 3.5% despite reporting EPS that was better than the analyst estimate and revenue that matched estimates. Alcoa expects alumina production to range between 9.8 and 10.0 million metric tons and alumina shipments to range between 12.7 and 12.9 million metric tons in 2024.
Plug Power (NASDAQ:PLUG) declined 13% after it entered into an at market issuance sales agreement with B. Riley Securities relating to the sale of common stock. It may offer and sell shares of common stock having an aggregate offering price of up to $1 billion.
SurgePays, Inc. (Nasdaq: SURG) declined 9% after it announced that it has commenced an underwritten public offering of shares of its common stock.
H.B. Fuller (FUL) climbed 4.3% after it reported Q4 EPS of $1.32, $0.05 better than the analyst estimate of $1.27. Revenue for the quarter came in at $903 million versus the consensus estimate of $930.59 million.
Grab Holdings Inc. (GRAB) climbed 3.8% after JPMorgan upgraded the stock to ‘overweight’ from ‘neutral.’ Analysts think results in the first half of the year will drive upward revisions.
By Louis Juricic