Test out the companies making headlines after the bell:
Shares of Cisco Systems sank as well-known as 6% all the blueprint by prolonged trading after the multinational telecom company reported a weaker-than-expected 2nd-quarter outlook despite its first-quarter earnings beat. The company expects 2nd-quarter revenue to descend between Three% and 5%, in comparison to the 2.6% % magnify Wall Street anticipated. Cisco also expects 2nd-quarter earnings between 75 cents and seventy seven cents, which falls short of the 79 cent EPS analysts expected, in response to Refinitiv.
In its first quarter, Cisco reported earnings of 84 cents per fraction, with the exception of obvious items, on revenue of $13.16 billion, exceeding the earnings of eighty one cents per fraction and revenue of $13.09 billion analysts forecast, in response to Refinitiv consensus estimates.
Shares of American Outside Brands spiked as well-known as eight% after the gunmaker announced it intends to split into two separate publicly traded companies. One company, Smith & Wesson Brands, will encompass the firearm change, while the namesake company would duvet all start air products and accessories. The transaction is anticipated to be performed in the attend-half of the calendar 365 days 2020.
Shares of Ping Identification surged more than 13% after the bell following the corporate’s third-quarter earnings report. The company, whose tool enables corporate workers to easily log in to many applications, reported whole revenue of $sixty one.eight million, ninety three% of which changed into as soon as subscription revenue. The Denver-essentially based company also mentioned it raised $187.5 million in its IPO in slack September, when it priced its stock at $15 per fraction. Ping Identification expects elephantine-365 days revenue between $239.Three million and $241.Three million, and whole revenue between $sixty four.7 million and $66.7 million subsequent quarter.