After-Hours Stock Movers: Cisco, Ibotta, Coherent, and Others See Big Swings

After-Hours Stock Movements: Cisco, Ibotta, Coherent, and Bullish

The after-hours trading session saw significant movements in several notable stocks, including Cisco, Ibotta, Coherent, and the newly listed crypto exchange, Bullish. Each company experienced divergent reactions based on recent earnings reports, market expectations, and corporate announcements.

Cisco

Cisco, the well-known technology giant, saw its shares decline nearly 3% in after-hours trading following the release of its fourth-quarter financial results. The company posted adjusted earnings of $0.99 per share on total revenue of $14.67 billion. Analysts surveyed by LSEG had projected slightly lower expectations, forecasting a profit of $0.98 per share and revenue of $14.62 billion. While the company’s earnings and revenue marginally surpassed expectations, the cautious guidance provided by management contributed to the modest decline in stock price. Despite this minor setback, Cisco shares have performed strongly over the year, rising approximately 19% year-to-date, reflecting investor confidence in the company’s long-term growth prospects.

Ibotta

In contrast, Ibotta experienced a sharp decline of more than 21% after its second-quarter results missed market expectations by a wide margin. The company reported earnings of just $0.08 per share, significantly below analysts’ anticipated $0.19 per share. Revenue for the quarter came in at $86 million, under the estimated $90.5 million. Additionally, the company’s guidance for the third-quarter revenue was weaker than expected, further disappointing investors. The substantial drop in Ibotta’s stock highlights investor concerns regarding the company’s ability to meet growth and profitability targets amidst competitive pressures in the tech and e-commerce sector.

Coherent

Coherent, a semiconductor manufacturer, also faced considerable pressure, with shares plummeting over 16% despite reporting better-than-expected results. The company posted $1.00 per share in earnings, excluding certain items, on revenue of $1.53 billion, surpassing analysts’ expectations of $0.91 per share and $1.51 billion in revenue. Despite exceeding profit and revenue forecasts, Coherent announced the sale of its aerospace and defense business to Advent for $400 million, which may have influenced investor sentiment and contributed to the stock’s decline. The move reflects the company’s strategic focus on its core semiconductor business while divesting non-core operations to optimize performance.

Bullish

Bullish, a newly listed cryptocurrency exchange, performed strongly in its first day of trading and continued to rise more than 3% in after-hours trading. The stock debuted on the New York Stock Exchange at $90, representing a 143% increase over its initial public offering price of $37. Bullish shares closed the day at $68, marking an overall gain of approximately 84% from its IPO price. The strong performance indicates robust investor interest in cryptocurrency platforms and positive market sentiment for emerging fintech companies.

Summary

Overall, the after-hours market activity reflects a mix of investor reactions to earnings performance, corporate guidance, and strategic decisions. Cisco’s modest decline was a reaction to cautious forward guidance, Ibotta’s steep fall reflected missed revenue and earnings targets, and Coherent’s drop stemmed from corporate restructuring despite beating expectations. Conversely, Bullish’s impressive performance underscores enthusiasm for new entrants in the cryptocurrency market. These divergent movements highlight the sensitivity of stock prices to earnings surprises, guidance, and strategic announcements, particularly in technology and emerging sectors, where investor expectations are high and volatility is pronounced.