After-Hours Stock Movers:
Lattice Semiconductor (LSCC) 16% LOWER; reported Q3 EPS of $0.53, $0.01 better than the analyst estimate of $0.52. Revenue for the quarter came in at $192.17 million versus the consensus estimate of $192.08 million. For Q4, the company expects revenue to be in the range of $166-$186M, missing the consensus estimate of $195.81M.
Catalent, Inc. (NYSE:CTLT) 16% LOWER; lower after client Sarepta Therapeutics, Inc. (NASDAQ:SRPT) said its EMBARK Study Did Not Meet Primary Endpoint but Data Shows Robust, Statistically Significant Results
Pinterest (NYSE:PINS) 12% HIGHER; reported Q3 EPS of $0.28, $0.07 better than the analyst estimate of $0.21. Revenue for the quarter came in at $763 million versus the consensus estimate of $743.94 million. For Q4 2023, we expect revenue to grow in the 11-13% range year over year. We expect Q4 2023 Non-GAAP operating expenses* to decline in the 9-13% range year over year. Please note that our operating expense guidance does not include cost of revenue.
Wolfspeed (NYSE:WOLF) 10% HIGHER; reported Q1 EPS of ($0.53), $0.14 better than the analyst estimate of ($0.67). Revenue for the quarter came in at $197.4 million versus the consensus estimate of $196.21 million. Wolfspeed sees Q2 2024 EPS of ($0.56)-($0.70), versus the consensus of ($0.69). Wolfspeed sees Q2 2024 revenue of $192-222 million, versus the consensus of $221.31 million.
Zynex , Inc. (NASDAQ:ZYXI) 7% HIGHER; said to weigh options, including a possible sale, Bloomberg News reported.
V.F. Corp. (NYSE:VFC) 6% LOWER; reported Q2 EPS of $0.63, $0.02 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $3 billion versus the consensus estimate of $2.99 billion. As the company implements the initiatives associated with Project Reinvent, it is withdrawing its FY24 revenue and earnings outlook and updating its FY24 free cash flow guidance.
Chegg (NYSE:CHGG) 5% LOWER; reported Q3 EPS of $0.18, $0.01 better than the analyst estimate of $0.17. Revenue for the quarter came in at $157.9 million versus the consensus estimate of $152.18 million. Chegg sees Q4 2023 revenue of $185-187 million, versus the consensus of $186.4 million.
Shopify (NYSE:SHOP) 1% HIGHER; Wells Fargo initiates coverage with an Overweight rating and a price target of $65.00.