Stocks making the biggest moves after hours: Cisco, Applied Materials, MGM Resorts & more

Cisco Systems headquarters

Getty Images

Check out the companies making headlines after the bell:

Cisco Systems – Shares of the networking hardware company dropped 4% in extended trading despite reporting strong second-quarter results that beat analysts' estimates. Cisco reported earnings of 77 cents a share excluding some items on revenue of $12.01 billion while analysts expected earnings of 76 cents a share on revenue of $11.98 billion, according to Refinitiv. Revenue for Cisco's two largest business segments, Infrastructure Platforms and Applications, were both down 8% year over year, coming in at $6.5 billion and $1.3 billion, respectively.

Applied Materials –The semiconductor company's stock rose 3% in extended trading after the company reported strong first-quarter results that beat analysts' estimates. Applied Materials earned 98 cents per share excluding some items, which was 5 cents a share above estimates, according to Refinitiv. The company reported revenue of $4.16 billion while analysts expected $4.11 billion, according to Refinitiv. Second-quarter guidance was also above estimates on both the top and bottom lines.

MGM Resorts International – Shares of the hospitality company whipsawed in extended trading after the company announced CEO Jim Murren would step down and then reported fourth-quarter financial results. The stock was up when the company announced a succession plan for Murren, then fell when the financial results were released, dropping 3% below Wednesday's closing price. Revenue was in-line with Wall Street forecasts, with MGM reporting $3.19 billion.

TripAdvisor – Shares of the online travel company rose 4% in extended trading after the company reported strong fourth-quarter results that beat analysts' estimates. The company reported earnings of 38 cents per share on revenue of $335 million while analysts expected 33 cents per share on revenue of $334 million, according to Refinitiv. Third-quarter total revenue declined 3% year-over-year, in part due to weakness in the hotels and media segment, according to numbers outlined in the company's report.

NetApp – The cloud data services and data management company's stock plummeted 12% in extended trading after the company reported weaker-than-expected third-quarter results. NetApp reported earnings of $1.16 per share excluding certain items, while analysts expected $1.18 a share, according to Refinitiv. Revenue was also below Wall Street forecasts, with NetApp reporting $1.40 billion while analysts expected $1.46 billion, according to Refinitiv.

Centurylink – Shares of the global technology company dropped 4% in extended trading despite the company's beat on revenue in its fourth quarter. The company reported $5.57 billion in revenue while analysts expected $5.55 billion, according to FactSet. Earnings matched analyst estimates at 33 cents per share, according to FactSet.

Free Traffic Real Traffic At Your Finger Tips

Get Traffic With Zero Money Down

Join with bonus

Change Healthcare – The information technology services company's stock fell 2% in extended trading after the company missed analysts' estimates on revenue in its third quarter. The company reported earnings of 33 cents per share excluding some items on revenue of $808.2 million while analysts expected earnings of 31 cents per share on revenue of $812.8 million, according to FactSet.

Subscribe to Centenunlimited news

We hate SPAM and promise to keep your email address safe