Stocks making the biggest moves after hours: Align Technology, Qualcomm, Wolfspeed and more

Published Wed, Jan 31 20245:22 PM ESTUpdated Wed, Jan 31 20246:21 PM EST

Check out the companies making headlines in after-hours trading. Qualcomm — Qualcomm shares fell 2% even after the chipmaker posted fiscal first-quarter results that beat expectations. Adjusted earnings per share of $2.75 were better than the $2.37 per share consensus estimate by LSEG, formerly known as Refinitiv. Adjusted revenue came in at $9.92 billion, topping the $9.52 billion expected by analysts. Align Technology — Shares popped 10% after Align Technology reported fourth-quarter results that surpassed estimates on the top and bottom lines. The orthodontics company reported adjusted earnings of $2.42 per share on revenue of $957 million. Analysts polled by LSEG were anticipating earnings of $2.18 per share on revenue of $934 million. Align also issued a rosy forecast for first-quarter revenue. MaxLinear — The computer hardware stock slid 11% after MaxLinear issued first-quarter revenue guidance below analysts' expectations. For the first quarter, MaxLinear expects revenue between $85 million and $105 million, weaker than the $121.8 million expected by analysts, according to FactSet. Boot Barn — Shares dropped nearly 2% after Boot Barn reported fiscal third-quarter earnings of $1.81 per share. That compares to $1.74 per share in the year-ago period. The retailer for cowboy boots and Western wear also issued fiscal fourth-quarter earnings and revenue guidance that came in weaker than expected, per FactSet. MetLife — MetLife shares slid about 2% even after the life insurance company reported fourth-quarter earnings that exceeded expectations. Adjusted earnings per share of $1.93 beat the forecast $1.88 in earnings per share, according to FactSet. Total adjusted revenue of $18.72 billion was higher than the $18.46 billion consensus estimate. Wolfspeed — Wolfspeed shares slid almost 2% after the semiconductor maker issued weak revenue guidance for the fiscal third quarter. Wolfspeed is calling for revenue of $185 million to $215 million, while analysts polled by FactSet sought revenue of $222.6 million. The company posted a narrower-than-expected loss and beat on revenue for the most recent quarter. Qorvo — Shares gained more than 5% after Qorvo issued fiscal third-quarter results that topped estimates. The semiconductor company posted adjusted earnings of $2.10 per share, topping the $1.66 per share FactSet consensus estimate. Revenue of $1.07 billion was more than the forecast $1.00 billion. C.H. Robinson – Shares of the logistics company fell more than 5%. C.H. Robinson missed expectations on the top and bottom lines in the fourth quarter. The company reported adjusted earnings of 50 cents a share on revenue of $4.22 billion. Analysts polled by LSEG called for 81 cents a share in earnings and revenue of $4.34 billion. Rocket Lab – The space company slid more than 10%. Late Wednesday, Rocket Lab announced a proposed offering of $275 million in convertible senior notes.