Arista Networks — The cloud networking company slid 7% despite beating analysts’ expectations for the first quarter. Arista saw $1.43 in adjusted earnings per share in the quarter on $1.35 billion in revenue, while analysts polled by Refinitiv expected $1.34 per share on $1.31 billion. The company also gave second-quarter revenue guidance that was better than Wall Street expected.
Chegg – Shares of the educational tech company dropped more than 36% in after-hours trading after the company issued a weak outlook for second-quarter revenue. Separately, the company beat analysts’ expectations for adjusted earnings per share and revenue in the first quarter, according to Refinitiv.
Everest Re Group — Shares dropped 4.7% after the insurance company missed analyst expectations for its first quarter. The company said it saw $11.31 in after-tax operating income per share for the quarter, which is lower than the $12.53 per share consensus estimate of analysts polled by FactSet. The company recorded $3.29 billion in revenue, also below the analyst forecast of $3.37 billion.
Stryker — The medical technologies stock fell more than 4%. The company warned that if foreign exchange rates stay near their current levels, it expects full-year sales and per-share earnings will be “modestly unfavorably impacted.” Separately, the company posted beats on the top and bottom lines in the first quarter, according to Refinitiv.
NXP Semiconductors — Shares gained 3.9% after the company beat Wall Street expectations in the first quarter. The company posted $3.19 in adjusted earnings per share on $3.12 billion in revenue. Analysts polled by Refinitiv anticipated earnings of $3.02 per share and $3 billion in revenue.
Diamondback Energy — The oil and gas company lost 1.7% after its earnings for the first quarter came in lower than Wall Street expected. Diamondback reported $4.10 in earnings per share, less than the $4.33 consensus estimate of analysts polled by FactSet. But the company was able to eke out a narrow beat on revenue, posting $1.93 billion against the Street’s estimates of $1.92 billion.
