Stocks making the biggest moves after hours: Gap, Broadcom and more

Here are the stocks making notable moves in extended trading.

Broadcom – The chip stock rose more than 3% in extended trading on Thursday after Broadcom beat estimates on the top and bottom lines for its fiscal first quarter. The company reported $ 8.39 of adjusted earnings per share, while analysts surveyed by Refinitiv were looking for $ 8.08 per share. The firm’s second-quarter revenue guidance also came in above expectations.

A Gap store in New York, August 2, 2020.

Scott Mlyn | CNBC

Gap – Shares for Gap surged more than 8% in extended trading after the retailer reported a smaller-than-expected loss for the fourth quarter and issued strong earnings guidance. Gap posted losses of 2 cents per share, versus the 14 cents forecast by Refinitiv analysts. Revenue came in at $ 4.53 billion, versus an estimated $ 4.49 billion. For the full year, Gap expects to earn between $ 1.85 and $ 2.05 per share. Analysts were expecting adjusted earnings of $ 1.86 per share.

Smith & Wesson Brands – Shares of the firearms maker dropped 14.7% in extended trading after the company’s fiscal third-quarter results came in short of analyst expectations. The company reported 69 cents in adjusted earnings per share on $ 177.7 million of revenue. Analysts surveyed by Refinitiv were looking for 83 cents and $ 198.3 million in revenue, according to FactSet’s StreetAccount. CEO Mark Smith said in a release that the firearms market has “cooled significantly” from where it was earlier in the pandemic.

Sweetgreen – Shares for Sweetgreen surged nearly 20% after hours, after the salad chain reported stellar sales growth in the fourth quarter. It’s the first time the restaurant posted a quarterly report since its public debut. Net sales rose by 63% to $ 96.4 million, beating analyst expectations of $ 84.7 million, according to Refinitiv. The company did report a net loss for the quarter.

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