Check out the companies making headlines after the bell on Wednesday:
American Eagle Outfitters – The clothing company's stock jumped 4.2% on the back of better-than-expected results for the fourth quarter. American Eagle logged earnings of 39 cents per share on revenue of $1.29 billion. Analysts polled by Refinitiv expected earnings per share of 36 cents on revenue of $1.28 billion. The retailer also said overall comparable sales declined just 1% as strong online sales mitigated mall closures.
Snowflake – Snowflake stock pulled back 4% after the company issued lackluster full-year revenue guidance. The company expects revenue for its fiscal 2022 to range between $1 billion and $1.02 billion. Analysts polled by FactSet expected revenue guidance of around $1.01 billion. That forecast represents full-year revenue growth of more than 80%, which is a slower expansion rate than the company experienced in its fiscal fourth quarter.
Okta – Shares of the cloud software company fell 12% on the news that Okta is spending $6.5 billion to acquire rival Auth0. The deal is expected to close by July. News of the deal overshadowed Okta reporting better-than-expected earnings and revenue for the previous quarter.
Vroom – Shares of the used-car retailer plunged 15% after the company released its latest quarterly figures. Vroom reported revenue of $406 million, while analysts polled by Refinitiv expected revenue of $401 million. The company also posted a loss of 46 cents per share, but it was not clear whether that's comparable to Refinitiv's earnings per share forecast.
