Stocks making the biggest moves after hours: FedEx, First Republic Bank and more

Market Insider

In this article

A worker sorts packages at a FedEx Express facility on Cyber Monday in Garden City, New York, US, on Monday, Nov. 28, 2022.
Michael Nagle | Bloomberg | Getty Images

Check out the companies making headlines in extended trading.

FedEx — The package-shipping company’s shares were up 9% after it reported a beat on earnings in its fiscal third quarter and raised its earnings forecast for the full year. FedEx reported adjusted earnings of $3.41 per share, topping analysts’ estimates of $2.73 per share, according to Refinitiv. Meanwhile, the company’s revenue fell below expectations. FedEx posted $22.17 billion in revenue, while analysts had estimated $22.74 billion. Shares of United Parcel Service popped 2% in sympathy.

First Republic Bank — The bank’s shares were down 15% during after-hours trading. During the regular trading session, the stock reversed earlier losses and rallied almost 10% as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to deposit $30 billion in First Republic. Shares of Zions Bancorp and KeyCorp, which are among the regional banks facing a rough week, fell more than 2%.

Merck — Shares of the pharmaceutical company fell nearly 2% in extended trading after Merck provided an update on a trial for one of its metastatic non-small cell lung cancer drugs. The results didn’t reach “statistical significance,” and Merck said patients in this arm of the study “should be switched to a standard of care.”

Articles You May Like

Processed food stocks fall as investors brace for increased scrutiny under Trump, RFK Jr.
Three Mile Island restart could mark a turning point for nuclear energy as Big Tech influence on power industry grows
Gary Gensler says he was ‘proud to serve’ as SEC chair, defends his approach to crypto regulation
What should my wife do with my Roth IRA when I die?
Market Watch: How Trump’s Tariff Strategy Could Reshape This Rally