The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022.
Arnd Wiegmann | Reuters
Check out the companies making headlines in after-hours trading.
Intel — Shares of Intel plunged 8.2% after the company reported earnings that missed on the top and bottom lines. The company reported adjusted earnings of 10 cents per share on $14.04 billion in revenue where analysts expected 20 cents per share on revenue of $14.46 billion, per Refinitiv. Intel also gave weak guidance, forecasting a net loss in the first quarter.
Visa — Visa shares rose 1.5% after the company reported an earnings beat. The digital payments company reported adjusted earnings per share of $2.18 and $7.94 billion in revenue, more than Wall Street’s expectations of adjusted earnings of $2.01 per share and $7.70 billion in revenue, per Refinitiv.
Hasbro — Shares slid 7.8% after the toymaker announced it was cutting about 1,000 jobs, or 15% of its workforce. The company also warned of a weak fourth quarter.
KLA Corporation — Shares of KLA Corporation, a semiconductor manufacturer, shed 4.9% even though the company reported earnings that beat analysts’ expectations on the top and bottom lines, according to Refinitiv. The company gave a forward guidance that was weaker than expected for its fiscal third quarter, which weighed on shares.