Stocks moving in after hours: FedEx, Bowlero, Texas Instruments

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Yahoo Finance Live’s Seana Smith takes a look at several trending stocks in the after-hours trading session.

Video Transcript

[AUDIO LOGO]

DAVE BRIGGS: Over to Seana now with what’s moving after hours.

SEANA SMITH: All right, thanks there, Dave. Let’s take a look at some of these trending tickers here first. We got to start off with FedEx because, as you can see, FedEx shares dropping just around 13%. The reason that we’re seeing this huge drop is because the company preliminary reported its quarterly results. The headline here– the fact that FedEx is withdrawing its full-year 2023 earnings forecast, a huge reason why the stock is sinking here after hours.

For the first quarter, it wasn’t too strong here of a performance from FedEx. They missed on both the top and bottom lines. Adjusted EPS at $3.44. TheStreet was expecting $5.10. Revenue, also just a bit light– $23.2 billion. TheStreet was looking for $23.5 billion. Now, FedEx did say that its results were impacted by global volume softness that did accelerate in the final weeks of the quarter.

Over the last three months, the stock off just about 12% year-to-date. FedEx shares in the red, off just about 20%. We know we’re heading towards a very critical time here for FedEx towards that holiday shopping season. So the fact that they are withdrawing their guidance, a clear concern here for investors.

Next up, let’s take a look at Bowlero. A very different story here. The shares now moving lower. They were popping earlier in the session. Now, the move here coming on the heels of what was a very strong quarterly result from the company revenue beating at $267 million. That was a jump of 68% year-over-year. Same-store revenue jumping 53% compared to what we saw pre-pandemic levels– a same-store revenue for the year up 19%. Year to date, the stock is up just around 40%. Certainly clawing back from after it was hit very hard from the pandemic. For the past year, shares up just about 26%.

Now, rounding it out with Texas Instruments. The company saying today that it’s going to be raising its quarterly cash dividend by 8%. The company’s board of directors also authorizing the repurchase of another $15 billion of its common stock. Now, just to put this in perspective, quarterly dividend going from $1.15 to $1.24. That’s the 19th year in a row that we’ve seen an increase here from Texas Instruments. For the year, though, shares still in the red, off just about 17%.

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