Check out companies that make headlines after business hours.
Chegg: Stocks fell almost 30% after the textbook company reported a weak full-year outlook despite better-than-expected earnings. In the most recent quarter, Chegg reported earnings of 32 cents per share on $202 million in revenue. Analysts polled by Refinitiv had expected earnings of 24 cents per share on $201 million in revenue.
Clorox — Clorox’s share price tumbled about 1.9% after the home goods maker cut its full-year gross margin forecast on inflation worries. Otherwise, Clorox beat earnings expectations after reporting earnings of $1.31 per share on revenue of $1.81 billion. The company was expected to earn 97 cents per share on revenue of $1.79 billion, according to the Refinitiv consensus.
Devon Energy – Shares jumped more than 2% after the company announced a dividend hike and buyback. The oil and gas company reported earnings of $1.88 per share and revenue of $3.8 billion for the quarter ended March. Analysts polled by FactSet had expected earnings of $1.75 per share on $4 billion in revenue.
Avis Budget Group – The car company’s share price soared almost 7% after Avis Budget’s quarterly results beat analysts’ expectations. The company has benefited from pent-up travel demand that has encouraged consumers to rent cars at even higher prices. Avis reported earnings of $9.99 per share on revenue of $2.4 billion. Analysts polled by Refinitiv had forecast earnings of $3.45 per share on revenue of $2.08 billion.