After-hours stock movers experienced a range of shifts in trading activity. Micron Technology’s shares declined by 6% following the release of its quarterly results and guidance, which, despite beating analyst estimates for the third and fourth quarters, did not meet investors’ high expectations.
Recursion Pharmaceuticals also saw a decline of 8% after announcing a planned public offering of $200 million worth of Class A common stock. Levi experienced a 12% plunge after its full-year EPS guidance fell below expectations.
AeroVision, despite exceeding estimates for its fourth quarter, saw a 7% decline in shares as its guidance for the future quarter only met analysts’ expectations. CASI Pharma, on the other hand, saw a significant 75% increase after receiving a proposal letter from the company’s Chairman and CEO to acquire its business operations in China.
Citigroup’s stock rose slightly by 0.25% after the Federal Reserve reported that large U.S. banks are well-prepared to withstand a severe recession and remain above the minimum capital requirements. However, Wells Fargo and U.S. Bancorp saw declines after hours due to concerns over their financial health and regulatory compliance issues respectively. H.B. Fuller experienced a 5% increase in shares after reporting positive second-quarter results and providing solid guidance for the future based on increased demand for industrial adhesives in emerging markets such as China and India where it operates through subsidiaries like Kao Industries Ltd., SigmaKalanamukti Industries Pvt Ltd., and Shandong Yantai Sino Chemical Co., Ltd., among others