Check out the companies making headlines in after-hours trading. Cisco Systems — The stock jumped 6% after the networking company reported an earnings and revenue beat for its fiscal fourth quarter, and also issued an optimistic forecast. Cisco posted adjusted earnings of 87 cents per share on revenue of $13.64 billion, while analysts polled by LSEG expected it to earn 85 cents per share on revenue of $13.54 billion. For the fiscal year, both revenue and earnings fell from the prior year, its first drop since 2020. Cisco also announced it will cut 7% of its global workforce. Ulta Beauty — Shares popped about 12% after Warren Buffett’s Berkshire Hathaway’s 13F regulatory filing revealed the conglomerate took a new stake in the cosmetics company worth $266 million, a small position for Berkshire. Snowflake — The cloud company’s shares slipped 1% after Berkshire Hathaway entirely dissolved its stake in Snowflake in the second quarter, according to its latest regulatory filing. Nike — Nike shares climbed more than 5% after Bill Ackman’s Pershing Square revealed a new stake in the athletic apparel and sneaker company. Lumentum Holdings — The optical products provider saw its shares soar nearly 14% on the heels of a fourth-quarter earnings and revenue beat. Lumentum posted earnings of 6 cents per share, excluding items, while analysts polled by FactSet forecasted earnings of 2 cents per share. Revenue for the quarterly period came out at $308.3 million, exceeding analysts’ expectations of $301.4 million.
Source: www.cnbc.com