A man was watching GameStop on 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | Getty Images
Check out the companies that make headlines after the bell on Tuesday:
GameStop – Video game retailer’s shares fell 11.9% after the company posted disappointing results for the fourth quarter. GameStop posted earnings per share of $ 1.34 with revenue of $ 2.12 billion. Analysts surveyed by Refinitiv predicted earnings per share of $ 1.35 on revenue of $ 2.21 billion. The company added that it is considering the sale of shares to finance its transformation.
Intel – Chip maker shares rose 4.1% after the company announced it was spending $ 20 billion to build two large chip factories in Arizona. Intel also said it will act as a production partner for chip companies that focus on semiconductor design, but cannot produce the chips alone.
Steelcase – The furniture company’s shares fell 3.9% after the company provided weaker-than-expected guidance for the first quarter. Steelcase expects first-quarter revenue to be between $ 540 million and $ 570 million. This is below a FactSet estimate of $ 579.9 million. The company also expects losses to be between 34 cents per share and 27 cents per share. Analysts had predicted a loss of 10 cents per share. The disappointing forecast overshadowed the release of better-than-expected results for the fourth quarter.
Adobe – The shares of the computer software company fell by less than 1% even after the release of fiscal results in the first quarter that exceeded Wall Street expectations. Adobe posted earnings per share of $ 3.14 on revenue of $ 3.91 billion. Analysts surveyed by Refinitiv expected a profit of $ 2.78 per share on revenue of $ 3.76 billion.