The after-hours trading market saw a mix of gains and losses for various companies. Unity Software saw a 3% jump in shares despite announcing a significant reduction in its workforce. Urban Outfitters experienced a 5% increase in shares after reporting a 10% rise in holiday sales. However, Boeing and United Airlines both experienced slight declines following the discovery of loose bolts in the Boeing 737 Max 9 planes operated by United Airlines. In addition, Microchip Technology and Extreme Networks both saw drops in their stock values after revising their revenue forecasts for the upcoming quarter.
Unity Software’s decision to cut 25% of its workforce, approximately 1,800 workers, did not negatively impact its stock performance as shares jumped over 3% in after-hours trading. Conversely, Urban Outfitters experienced a 5% increase in shares after reporting a 10% rise in holiday sales for the two months ending December 31, 2023. On the other hand, Boeing and United Airlines both experienced slight declines following the discovery of loose bolts in the Boeing 737 Max 9 planes operated by United Airlines. The news of Microchip Technology revising downward its fiscal third-quarter revenue forecast led to a drop of more than 3% in its stock value, and Extreme Networks lowered its second-quarter revenue guidance, causing a 7% slide in its shares.
JetBlue Airways, however, experienced a modest 1% rise in shares after announcing that its President and Chief Operating Officer Joanna Geraghty will succeed Robin Hayes as CEO. The preannouncement from Jefferies Financial Group resulted in a 2% decline in its stock value after reporting a 17% drop in fourth-quarter revenue compared to the year-ago period. Overall, the after-hours trading market saw a varied performance for the companies in focus.
