A man looks at GameStop on 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | fake images
Take a look at the companies making the headlines after the bell on Tuesday:
GameStop: The video game retailer’s shares fell 11.9% after the company posted disappointing results in its fourth quarter. GameStop posted earnings per share of $ 1.34 on revenue of $ 2.12 billion. Analysts surveyed by Refinitiv predicted earnings per share of $ 1.35 on revenue of $ 2.21 billion. The company added that it is considering selling shares to finance its transformation.
Intel – The chipmaker’s shares rose 4.1% after the company announced that it is spending $ 20 billion to build two major chip plants in Arizona. Intel also said it will act as a manufacturing partner for chip companies that focus on semiconductor design but cannot manufacture the chips themselves.
Steelcase – Shares in the furniture company fell 3.9% after the company gave weaker-than-expected guidance for the first quarter. Steelcase expects first-quarter revenue to range from $ 540 million to $ 570 million. That’s below a FactSet estimate of $ 579.9 million. The company also expects losses to range from 34 cents a share to 27 cents a share. Analysts had forecast a loss of 10 cents a share. The disappointing forecast overshadowed the release of better-than-expected results for the fourth quarter.
Adobe – Shares of the computer software company fell less than 1% even after the release of fiscal first-quarter results that beat Wall Street expectations. Adobe posted earnings per share of $ 3.14 on revenue of $ 3.91 billion. Analysts surveyed by Refinitiv expected a profit of $ 2.78 per share on revenue of $ 3.76 billion.