Check out the companies making headlines on Thursday after work:
Ross Stores – The discounter's shares rose about 0.5% in after-hours trading on a surprise gain and better-than-expected sales. Ross posted earnings of 6 cents per share, which includes a 19 cents per share advantage and $ 2.68 billion in revenue for the first quarter. Analysts polled by FactSet expected a loss of 28 cents per share on sales of 2.51 billion US dollars. However, CEO Barbara Rentler said, "There remains significant uncertainty about how the pandemic will unfold and affect consumer demand and the economy, and there is potential for additional government-mandated shutdowns."
OSI Systems – The shares of the x-ray machine developer were down more than 3% after the company released disappointing sales forecasts for fiscal year 2021. OSI Systems expects sales between $ 1.09 billion and $ 1.14 billion. That's below a FactSet median estimate of $ 1.19 billion.
Sorrento Therapeutics – Sorrento shares rose 2.6% after the biopharmaceutical company agreed to purchase SmartPharm Therapeutics for up to $ 19.4 million worth of common stock. The deal is expected to close next month. "The merger with Sorrento offers a tremendous opportunity to advance our next generation non-viral gene therapy technology," said Jose Trevejo, CEO of SmartPharm, in a statement.
Keysight Technologies – Keysight Technologies stock rose more than 6% in after-hours trading after the company posted better-than-expected results in the third quarter of its fiscal year. Keysight reported earnings of $ 1.19 per share on sales of $ 1.01 billion. According to FactSet, analysts expect earnings of 83 cents per share on sales of 915.4 million US dollars.