After-Hours Stock Movers:

Chegg (NYSE: CHGG) 32% LOWER; reported Q1 EPS of $0.27, $0.01 better than the analyst estimate of $0.26. Revenue for the quarter came in at $187.6 million versus the consensus estimate of $185.2 million. Chegg sees Q2 2023 revenue of $175-178 million, versus the consensus of $194 million.

Community Health Systems (NYSE: CYH) 13% LOWER; reported Q1 EPS of ($0.43), $0.25 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $3.11 billion versus the consensus estimate of $3.09 billion.

BlackBerry Limited (NYSE: BB) 9% HIGHER; announced that the BlackBerry Board of Directors will initiate a review of its portfolio of businesses. The assessment will assist the Board as it considers various strategic alternatives to drive enhanced shareholder value. These alternatives include, but are not limited to, the possible separation of one or more of BlackBerry's businesses.

STAG Industrial Inc. (NYSE: STAG) 8% HIGHER; will replace Axon Enterprise in the S&P MidCap 400

NXP Semiconductors (NASDAQ: NXPI) 4% HIGHER; reported Q1 EPS of $3.19, $0.17 better than the analyst estimate of $3.02. Revenue for the quarter came in at $3.12 billion versus the consensus estimate of $3 billion. NXP Semiconductors sees Q2 2023 EPS of $3.07-$3.49, versus the consensus of $2.98. NXP Semiconductors sees Q2 2023 revenue of $3.1-3.3 billion, versus the consensus of $3.04 billion.

Blackstone Inc. (NYSE: BX) 2% LOWER; despite recent speculation, BX will not be added to the S&P 500 at this time. S&P announced after the close that Axon Enterprise Inc. (NASDAQ: AXON) will replace First Republic Bank (NYSE: FRC) in the S&P 500.