After‑Hours Stock Movers: FedEx, Cerebras Systems, Nike
Cerebras Systems Inc. (ticker CBRS) experienced a 7% decline in after‑hours trading despite reporting first‑quarter revenue of $193.4 million, which surpassed Wall Street’s estimate of $181.4 million. The AI‑chip maker also projected full‑year revenue that exceeds consensus expectations, yet the market reaction suggests investors were seeking a larger beat relative to its recent IPO valuation.
FedEx Corp. (ticker FDX) saw its shares tumble 6% after the company released its fiscal year 2027 earnings outlook, forecasting adjusted earnings per share in the range of $16.90 to $18.10. This guidance fell short of the Wall Street consensus of $19.86 per share, eclipsing an otherwise solid beat in its most recent quarterly results and prompting the sharp after‑hours sell‑off.
Nike Inc. (ticker NKE) rose 2% in extended trading following two positive developments: the appointment of David M. Denton, a veteran from Pfizer, as the new chief financial officer, and an update indicating that fourth‑quarter results will benefit from tariff refunds, providing an unexpected financial upside.
Key Takeaways
- Cerebras beat top‑line expectations but still faced a 7% after‑hours drop.
- FedEx’s FY2027 EPS guidance missed consensus, leading to a 6% share decline.
- Nike’s leadership change and tariff‑refund boost lifted the stock 2%.