After-Hours Stock Movers:
Spirit Airlines (NYSE:SAVE) shares declined 1% after plunging 47% during the regular session. Earlier today JetBlue Airways' (NASDAQ:JBLU) acquisition of its low-cost rival was blocked by a federal judge. The airlines disagree with the court’s decision and are evaluating their next steps.
Interactive Brokers (NASDAQ:IBKR) declined 2.25% after it reported fourth quarter EPS of $1.52, $0.02 worse than the analyst estimate of $1.54. Revenue at the electronic broker came in at $1.14 billion versus the consensus estimate of $1.13 billion.
Rocket Lab USA (RKLB) gained 3% after KeyBanc initiated coverage with an ‘overweight’ rating and a price target of $8.
Big 5 Sporting Goods (Nasdaq: BGFV) declined 5% after it reported sales results for the fiscal 2023 fourth quarter. Net sales were $196.3 million compared to net sales of $238.3 million for the fourth quarter of fiscal 2022. Same store sales decreased 17.7% year-over-year.
Calavo Growers (Nasdaq: NASDAQ:CVGW) declined 7% after it announced it would delay the release of fourth quarter and full year results. The Company expects to report that net sales decreased approximately 18% to $972 million for the year ended October 31, 2023, below the consensus of $987 million.
Impinj, Inc. (PI) gained 11% after it announced that it expects fourth quarter 2023 revenue to exceed $70 million, above its prior guidance of $65.5 to $68.5 million and adjusted EBITDA to exceed $2.5 million, above its prior guidance of ($0.9) to $0.7 million.
Progress Software Corporation (NASDAQ:PRGS) climbed 4% after it reported fourth quarter EPS of $1.02, $0.11 better than the analyst estimate of $0.91. Revenue for the quarter came in at $176.97 million versus the consensus estimate of $174.12 million. The company sees FY2024 EPS of $4.58-$4.68 on revenue of $722-732 million.
Digital World Acquisition (DWAC) declined 5%, paring gains after surging 29% during the regular session. The blank check firm has an agreement to take President Donald Trump's social media platform public, and today’s strength followed Trump’s victory in the Republican contest in Iowa.
By Louis Juricic