Stocks making the biggest moves after the bell: Cal-Maine Foods, Myriad Genetics & more
Cases of eggs from Cal-Maine Foods, Inc., await to be handed out by the Mississippi Department of Agriculture and Commerce employees to several hundred families along with over 1,400 boxes of meat products from Merchants Foodservice and 2,200 gallons of milk from Borden Dairy, at the Mississippi State Fairgrounds in Jackson, Miss., Aug. 7, 2020.
Rogelio V. Solis | AP
Check out the companies making headlines after the bell on Tuesday:
Cal-Maine Foods — Cal-Maine Foods reported a surprise profit for its fiscal second quarter, sending the stock up more than 2% after-hours trading. The company posted earnings per share of 25 cents on revenue of $347.3 million. Analysts polled by FactSet expected a loss of 8 cents pre share on revenue of $333.5 million. The company’s egg-dozen sales grew by 4.6% on a year-over-year basis.
Myriad Genetics — Shares of the biotechnology company rose nearly 2% on news Myriad will explore “strategic alternatives” for its autoimmune business. The company is also restructuring its international operations.
Smart Global Holdings — Smart Global posted fiscal first-quarter earnings per share that were better than expected, lifting the computer-memory manufacturer’s stock up by 2.4%. Smart Global reported adjusted earnings per share of 78 cents, topping a FactSet estimate of 70 cents per share. The company also issued better-than-expected revenue guidance for the current quarter.
Nektar Therapeutics — Nektar shares slipped about 1% after the company announced Dr. Brian Kotzin will take over as interim chief medical officer, effective immediately, replacing current CMO Wei Lin.