Finance News

Shares Making the Greatest Strikes by the Hour: Palo Alto Networks, Portland Common Electrical & Extra

People walking along Wall Street in the Financial District of Manhattan on September 3, 2019 in New York City.

Spencer Platt | Getty Images News | Getty Images

Take a look at the companies that hit the headlines on Monday after hours:

Standex International – The industrial mold manufacturer's shares rose 0.2% as the previous quarter's results were better than expected. Standex reported adjusted earnings of 65 cents per share for the fourth quarter. Analysts polled by FactSet expected earnings of 43 cents per share. "Since the end of April, our end markets have seen a gradual increase in customer activity that has continued into our first quarter," said CEO David Dunbar.

Palo Alto Networks – Palo Alto Networks posted earnings per share of $ 1.48, beating a FactSet estimate of $ 1.39 per share. The company also issued a better-than-expected earnings forecast for the current quarter. However, Palo Alto shares fell more than 3% after the close of trading.

Tiffany – Tiffany shares fell 0.6% after Reuters, citing a source, reported that jeweler and French luxury goods maker LVMH would postpone a $ 16.2 billion merger for another three months. According to the report, the deal still lacks the necessary regulatory approval, including in the European Union.

Portland General Electric – Shares in the Portland-based utility fell more than 6% after the company announced it would form a special committee to review recent losses from energy trading. Portland General Electric announced it had posted losses of $ 104 million in 2020. The company also lowered its earnings forecast for the full year.

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