After-hours movers: Wolfspeed falls following results, Chegg gains on buyback

After-Hours Stock Movers:

Wolfspeed (NYSE: WOLF) 11% LOWER; reported Q4 EPS of ($0.42), $0.22 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $235.8 million versus the consensus estimate of $224.53 million. Wolfspeed sees Q1 2024 EPS of ($0.60)-($0.75), versus the consensus of ($0.30). Wolfspeed sees Q1 2024 revenue of $220-240 million, versus the consensus of $235.5 million.

Avnet (NASDAQ: AVT) 8% HIGHER; reported Q4 EPS of $2.06, $0.41 better than the analyst estimate of $1.65. Revenue for the quarter came in at $6.6 billion versus the consensus estimate of $6.27 billion. Avnet sees Q1 2024 EPS of $1.45-$1.55. Avnet sees Q1 2024 revenue of $6.15-6.45 billion.

Chesapeake Energy Corp. (NASDAQ: CHK) 6% HIGHER; will replace Mercury Systems Inc. (NASDAQ: MRCY) in the S&P MidCap 400.

Paycor HCM, Inc (NASDAQ: PYCR) 4% LOWER; reported Q4 EPS of $0.08, $0.03 better than the analyst estimate of $0.05. Revenue for the quarter came in at $140 million versus the consensus estimate of $136.51 million. Paycor HCM, Inc sees Q1 2024 revenue of $138-140 million, versus the consensus of $142.5 million. Paycor HCM, Inc sees FY2024 revenue of $644-650 million, versus the consensus of $646.97 million.

StoneCo (NASDAQ: STNE) 4% HIGHER; reported Q2 EPS of R$0.94, R$0.08 better than the analyst estimate of R$0.86. Revenue for the quarter came in at R$2.95 billion versus the consensus estimate of R$2.9 billion. StoneCo sees Q3 2023 revenue of R$3075 million, versus the consensus of R$2352 million.

Mercury Systems Inc. (NASDAQ: MRCY) 3% HIGHER; will replace Arconic Corp. (NYSE: ARNC) in the S&P SmallCap 600. Removed from S&P 400.

Chegg, Inc. (NYSE: CHGG) 2% HIGHER; announced its board of directors has authorized an increase of $200 million as part of its securities repurchase program

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