PayPal, DowDuPont, AIG and more

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Check out the companies making headlines after the bell:

PayPal stock jumped more than 7% percent after the market-close on Thursday following the release of its third-quarter earnings report. The payment company beat on both its top and bottom lines, reporting earnings of 58 cents per share on revenue of $3.68 billion, vs. analyst estimates of 54 cents on $3.66 billion in revenue.

In addition, total payment volume from PayPal’s peer-to-peer payment app Venmo rose 78 percent in the third quarter to roughly $17 billion.

Skechers shares soared as much as 8 percent during after-hours trading Thursday as the company reported strong third-quarter profits and future guidance. The shoe company reported earnings of 58 cents per share for the third quarter, higher than the 51 cents analysts had expected.

Skechers also offered strong future guidance for revenue and earnings per share in the fourth quarter. The company expects earnings between 20 cents and 25 cents per share, compared to the 18 cents per share expected by analysts polled by Refinitiv.

Shares of DowDuPont fell more than 6% after the company reported a $4.6 billion impairment charge related to goodwill and other assets of its agriculture reporting unit. The chemical company is facing headwinds as decreases in commodity prices and higher-than-anticipated industry grain inventories are expected to impact farmers’ income.

AIG stock tumbled more than 4% after the insurer said it expects to report between $1.5 billion and $1.7 billion in pre-tax catastrophe losses for the third quarter. The losses were a result of numerous weather events like the typhoons in Japan as well as Hurricane Florence, the company said.

Bank OZK shares plummeted as much as 19.5 percent after market-close upon the release of its third quarter financial results. The Little Rock, Arkansas-based bank missed on its top and bottom lines, reporting earnings per share of 58 cents on $245 million in revenue, vs. expectations of 90 cents on $258 million in revenue.

Intuitive Surgical’s stock rose more 2 percent during after-hours trading as the robotic surgical company reported strong earnings in its third quarter. The company reporter earnings per share of $2.83, 17 cents above analyst expectations. Intuitive also beat on its top line, reporting $921 million in revenue vs. expectations of $917 million.

2018-10-18 21:39:07

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