After-hours movers: Wolfspeed falls following results, Chegg gains on buyback

After-Hours Stock Movers:

Wolfspeed Inc (NYSE:) 11% LOWER; Q4 EPS of ($0.42), $0.22 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $235.8 million versus the consensus estimate of $224.53M. Wolfspeed sees Q1 2024 EPS of ($0.60)-($0.75), versus the consensus of ($0.30). Wolfspeed sees Q1 2024 revenue of $220-240M, versus the consensus of $235.5M.

Avnet (NASDAQ:) 8% HIGHER; Q4 EPS of $2.06, $0.41 better than the analyst estimate of $1.65. Revenue for the quarter came in at $6.6 billion versus the consensus estimate of $6.27B. Avnet sees Q1 2024 EPS of $1.45-$1.55. Avnet sees Q1 2024 revenue of $6.15-6.45B.

Chesapeake Energy Corp. (NYSE:) 6% HIGHER; will replace Mercury Systems Inc. (NASDAQ:) in the .

Paycor HCM Inc (NASDAQ:) 4% LOWER; Q4 EPS of $0.08, $0.03 better than the analyst estimate of $0.05. Revenue for the quarter came in at $140M versus the consensus estimate of $136.51M. Paycor HCM, Inc sees Q1 2024 revenue of $138-140M, versus the consensus of $142.5M. Paycor HCM, Inc sees FY2024 revenue of $644-650M, versus the consensus of $646.97M.

StoneCo Ltd (NASDAQ:) 4% HIGHER; Q2 EPS of R$0.94, R$0.08 better than the analyst estimate of R$0.86. Revenue for the quarter came in at R$2.95B versus the consensus estimate of R$2.9B. StoneCo sees Q3 2023 revenue of R$3075M, versus the consensus of R$2352M.

Mercury General Corporation (NYSE:) 3% HIGHER; will replace Arconic Corp (NYSE:) in the . Removed from S&P 400.

Chegg, Inc. (NYSE:) 2% HIGHER; announced its board of directors has authorized an increase of $200M as part of its securities repurchase program