Explore the companies driving significant price action in after-hours trading:
- Cadence Design Systems — Shares of the chip design firm climbed over 4% following second-quarter earnings of $2.11 per share (adjusted), surpassing the LSEG consensus estimate of $2.05. Revenue reached $1.58 billion, meeting market expectations.
- Rambus — The memory interface chip manufacturer saw a slight uptick after reporting second-quarter adjusted earnings of 77 cents per share on $207 million in revenue, beating analyst estimates of 72 cents per share and $198 million in revenue.
- Universal Health Services — The healthcare services and hospital provider fell more than 4% after lowering its full-year guidance. The company now projects adjusted earnings between $22.28 and $23.65 per share, down from its previous range of $22.64 to $24.52.
- Welltower — Shares of the senior housing real estate investment trust rose 4% after raising its full-year guidance. The company projected normalized funds from operations between $6.36 and $6.44 per share, exceeding the FactSet consensus of $6.30.
- Happen — Formerly known as LendingClub, the bank saw its shares advance 4% after providing full-year earnings guidance of $1.80 to $1.90 per share, outperforming the FactSet estimate of $1.74. The company also expects annual loan originations between $12.2 billion and $12.6 billion.
- F5 — The multi-cloud security firm gained nearly 2% as third-quarter results outperformed expectations. F5 reported adjusted earnings of $4.73 per share on $865 million in revenue, significantly higher than the LSEG consensus of $4 per share and $388 million in revenue.
- Cincinnati Financial — The insurer’s stock dropped nearly 4% after delivering disappointing second-quarter results. Operating earnings of $1.43 per share missed the FactSet consensus of $1.84, and net premiums of $2.64 billion fell short of the $2.66 billion anticipated by analysts.
- Nucor — Despite posting second-quarter earnings and revenue that exceeded expectations, the steel producer dipped 1%. The stock has seen significant growth, rising over 50% year-to-date.
- Principal Financial Group — Shares declined 3% even though the retirement services firm reported adjusted operating earnings of $2.42 per share, beating the $2.34 per share expected by FactSet analysts. The stock has climbed more than 25% so far this year.