Let’s check out the companies that are becoming a hot topic for after-hours trading. Nucor — Shares fell 6.3% after the steelmaker reported weaker-than-expected first-quarter results and issued a lackluster second-quarter outlook. First-quarter earnings of $3.46 per share were below the FactSet consensus estimate for earnings of $3.67 per share. Sales were $8.14 billion, lower than expectations of $8.26 billion. Nucor said its second-quarter profit would decline due to “lower steelmaking segment profits, primarily due to lower average selling prices, partially offset by modest increases in production.” Expect. CLEVELAND-CLIFFS — The steel producer is down nearly 3%. The Cleveland Cliffs’ first-quarter results fell short of analysts’ expectations, with adjusted earnings of 18 cents per share and revenue of $5.2 billion. Analysts surveyed by LSEG expected earnings of 22 cents a share and revenue of $5.35 billion. Cadence Design Systems — Shares fell 8.9% after the software company reported a poor outlook for the second quarter. Cadence Design Systems expects second-quarter earnings of $1.20 to $1.24 a share, below the $1.43 expected by analysts polled by FactSet. Revenue guidance of $1.03 billion to $1.05 billion also fell short of the FactSet consensus estimate of $1.11 billion. Globe Life — Shares rose 1.8% after the life insurance company raised its full-year profit outlook. Globelife expects full-year 2024 earnings per share to be in the range of $11.50 to $12.00, up from the previous range of $11.30 to $11.80. Otherwise, the company delivered first-quarter operating profit and revenue in line with FactSet consensus estimates. Crane Company — Shares rose 3.7% after the industrial products company posted revenue and earnings that beat analysts’ expectations in the first quarter. Crane’s adjusted earnings per share were $1.22, compared with the FactSet consensus estimate of $1.13. Sales were $565.3 million, exceeding expectations of $546.4 million. Alexandria Real Estate Stock — Shares rose 1.2% after Alexandria beat first-quarter revenue estimates. The life sciences REIT had revenue of $769.1 million, beating FactSet’s consensus estimate of $764.4 million. Packaging Corporation of America — Shares fell 1.8% in after-hours trading even though the containerboard maker reported better-than-expected first-quarter profits. Packaging Corporation’s adjusted earnings per share were $1.72, beating analysts’ estimates of $1.68 per share polled by FactSet. Revenue also exceeded the consensus estimate of $1.91 billion at $2 billion. Calix — The cloud and software provider fell nearly 15% after announcing a weak outlook for the second quarter. Calix expects earnings of 3 cents to 9 cents per share on revenue of $197 million to $203 million. Analysts polled by FactSet had expected revenue of $232.8 million and earnings of 24 cents a share. Simpson Manufacturing — Shares fell nearly 11% after the maker of structural solutions reported lower first-quarter sales and profits. Simpson’s earnings per share were $1.77, down 14.3% from the same period last year. Revenue was $530.6 million, down nearly 1% year over year. Medpace — Medpace’s stock fell 4.3% after its first-quarter earnings fell short of expectations. The clinical research organization had revenue of $511 million, below the $512.4 million expected by analysts surveyed by FactSet. TrustCo Bank Corp. NY — The regional bank rose 3.7% after TrustCo earned 64 cents a share in the first quarter, beating the FactSet consensus estimate of 60 cents. — CNBC’s Darla Mercado contributed to this report.
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