A man looks at GameStop on 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | Getty Images
Check out the companies making headlines after the bell on Tuesday:
GameStop – The video game retailer’s shares fell 11.9% after the company reported disappointing results in the fourth quarter. GameStop recorded 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 large chip factories 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 – The shares of the furniture company fell 3.9% after the company gave a weaker-than-expected orientation for the first quarter. Steelcase expects first quarter revenue to be between $ 540 million and $ 570 million. This is below a FactSet estimate of $ 579.9 million. The company also expects losses to vary between 34 cents per share and 27 cents per share. Analysts had predicted a loss of 10 cents per share. The disappointing forecast overshadowed better-than-expected results for the fourth quarter.
Adobe – The shares of the computer software company fell by less than 1%, even after the release of fiscal results for the first quarter that exceeded Wall Street expectations. Adobe reported earnings per share of $ 3.14 on revenue of $ 3.91 billion. Analysts polled by Refinitiv had expected earnings of $ 2.78 per share on revenue of $ 3.76 billion.