June 1, 2023

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Stocks move the most after hours: PACW, SEDG, ETSY, QCOM

Etsy website

Gabe Jones | bloomberg | Getty Images

Check out the companies making headlines after hours.

PacWest, Western Alliance, Comerica — PacWest shares fell more than 50% in extended trading after a Bloomberg News report that the regional bank was exploring strategic options, including a possible sale. The news affected other mid-sized banks as well. West Alliance shares fell 27%. Valley National shares were down 13%, and Comerica shares were down about 12%.

SolarEdge Technologies SolarEdge Technologies jumped 9% after beating first-quarter expectations on the top and bottom lines of earnings. The company reported adjusted earnings of $2.90 per share for an estimate of $1.92, on revenue of $944 million that topped the consensus of $933 million, according to analysts polled by Refinitiv.

Etsy – Etsy jumped 6.7% after beating first-quarter revenue expectations. The online marketplace focused on handmade goods, reporting $641 million in revenue, beating estimates of $622 million, according to consensus data from Refinitiv. Earnings per share came in at 53 cents, matching expectations.

Qualcomm – Qualcomm stock fell 2.2% after issuing weaker-than-expected guidance for the third quarter. The semiconductor maker expects earnings per share between $1.70 and $1.90, below the consensus estimate of $2.16. Second-quarter revenue beat estimates, while earnings per share came in as expected, according to Refinitiv.

Zillow Group Shares rose 4.9% after Zillow Group beat first-quarter revenue estimates. The online real estate market posted revenue of $469 million, above estimates of $425 million, according to analysts polled by Refinitiv. Zillow did not release the earnings per share information in its press release.

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TripAdvisor — TripAdvisor fell 6.2% after disappointing first-quarter earnings results. The online travel company reported adjusted earnings of 5 cents per share, below forecasts of 7 cents per share, according to Refinitiv. Revenue of $371 million surpassed consensus estimates of $359 million.

Frontier Group Holdings — The stock added about 2% after Frontier Group Holdings posted a smaller-than-expected loss in the first quarter of the year. The company reported a loss of 6 cents per share, better than the 8 cents per share loss that analysts had expected, according to Refinitiv. Revenue exceeded estimates.

— CNBC’s Jesse Pound contributed reporting