A person seems at GameStop at Sixth Avenue on February 25, 2021 in Recent York.
John Smith | Corbis News | Getty Images
Strive the firms making headlines after the bell on Tuesday:
GameStop – Shares of the video sport retailer dropped 11.9% after the firm posted disappointing results for its fourth quarter. GameStop logged earnings per portion of $1.34 on income of $2.12 billion. Analysts surveyed by Refinitiv predicted earnings per portion of $1.35 on income of $2.21 billion. The firm added it’s miles pondering selling inventory to fund its transformation.
Intel – Shares of the chipmaker rose 4.1% after the firm announced it’s miles spending $20 billion to construct two predominant chip vegetation in Arizona. Intel also acknowledged this would per chance presumably act as a producing accomplice for chip firms that pay attention on semiconductor intention but cannot intention the chips themselves.
Steelcase – The furniture firm’s inventory slid 3.9% after the firm gave weaker-than-expected steering for the first quarter. Steelcase expects first-quarter income to alter between $540 million and $570 million. That is beneath a FactSet estimate of $579.9 million. The firm also expects losses to alter between 34 cents per portion and 27 cents per portion. Analysts had forecast a loss of 10 cents per portion. The disappointing forecast overshadowed the release of greater-than-expected results for the fourth quarter.
Adobe – The computer intention firm’s inventory slipped by lower than 1% even after the release of fiscal first-quarter results that topped Wall Avenue expectations. Adobe posted earnings per portion of $3.14 on income of $3.91 billion. Analysts polled by Refinitiv expected a profit of $2.78 per portion on income of $3.76 billion.