After-Hours Stock Movers:

Cerebras Systems (NASDAQ: CBRS)

Cerebras Systems fell 7% in after-hours trading despite beating top-line estimates and lifting its outlook during its first earnings call as a public company. While the AI chipmaker reported first-quarter revenue of $193.4 million—topping the $181.4 million Wall Street forecast—and projected full-year revenue ahead of consensus, the sell-off indicates investors were likely looking for an even larger beat to justify its recent IPO valuation.

FedEx (NYSE: FDX)

FedEx shares tumbled 6% after hours following the release of a fiscal year 2027 earnings forecast that fell significantly short of expectations. The shipping giant projected adjusted earnings per share between $16.90 and $18.10, severely missing the $19.86 Wall Street consensus and completely overshadowing a solid beat in its latest quarterly results.

Nike (NYSE: NKE)

Nike stock rose 2% in extended trading on the news of an upcoming leadership transition and unexpected financial upside. Investors reacted positively to the appointment of Pfizer veteran David M. Denton as the new CFO, alongside an update that fourth-quarter results will receive a favorable boost from tariff refunds.