Synaptics Inc. (SYNA) saw a significant surge of 14% in its stock after reporting quarterly results that exceeded analyst revenue and earnings estimates.
Shares of Lions Gate Entertainment Corp. (LGF.A) also experienced a 5% increase in out-of-hours trading. The TV, film, and media giant pleasantly surprised the market with a second-quarter profit, maintaining its full-year outlook despite the negative impact of the Hollywood writer and actor strike earlier this year.
Biggest Stock Decliners
Unfortunately, Plug Power Inc. (PLUG) witnessed a disappointing 30% plunge in its shares. The fuel-cell company fell short of analysts’ expectations and attributed its underperformance to “unprecedented supply challenges.”
Similarly, Trade Desk Inc. (TTD) faced a decline of 26% in its shares. The advertising technology company’s guidance failed to meet expectations, resulting in the drop.
Diageo (DEO), the renowned seller of Guinness, experienced a significant 15% decrease in shares. This decline can be attributed to the company’s projected 20% drop in sales from its Latin American and Caribbean business, which is mainly due to macroeconomic pressures in the region.
On another note, Unity Software Inc. (U) saw a decline of 13% in its stock. The company announced revenue that fell short of analysts’ forecasts and refrained from providing future guidance in a letter to its shareholders.
Lastly, shares of Illumina Inc. (ILMN) tumbled by 9%. The DNA-sequencing technology manufacturer revised its full-year sales and profit outlook, which contributed to the decline.