Several major companies released their earnings reports after hours, sparking notable movements in stock prices. Lattice Semiconductor's shares soared approximately 12% after the company exceeded analysts' expectations on revenue, providing optimistic guidance for the first quarter. Meanwhile, Vertex Pharmaceuticals and Coty fell short of Wall Street forecasts, resulting in less favorable market reactions.
Vertex Pharmaceuticals reported adjusted earnings of $3.98 per share, missing the analysts' estimates of $4.03. Moreover, Vertex's revenue of $1.67 billion fell short of the consensus estimate of $1.72 billion. Analysts had forecasted earnings of 26 cents per share and revenue of $128 million for Vertex, adding to the investor disappointment.
Coty's fiscal second-quarter results also failed to meet Wall Street's expectations. The company's adjusted earnings fell below the 21 cents per share that analysts polled by LSEG had anticipated. This shortfall contributed to investor concerns regarding Coty's financial performance.
On a brighter note, Lattice Semiconductor impressed investors with its robust financial results. The company's revenue not only surpassed analysts' expectations but also provided strong guidance for the upcoming quarter, driving its shares up by nearly 12%. This positive outlook reflects confidence in Lattice Semiconductor's future performance.
Astera Labs also posted commendable financial results, with adjusted earnings of 37 cents per share and revenue of $141 million. The company's shares rose nearly 2% following its top- and bottom-line beats in the fourth quarter. Astera Labs' revenue of $2.91 billion exceeded forecasts of $2.78 billion, showcasing its strong market position.
In contrast, CoreCivic experienced a decline in its share price, sliding 4% after releasing its earnings report. Although CoreCivic sees full-year earnings ranging between 48 cents and 61 cents per share, investors reacted cautiously to the company's financial outlook.
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