Stocks making the biggest moves after hours: Bed Bath & Beyond, Costco and more – CNBC

Check out the companies making headlines after the bell:

Bed Bath & Beyond initially jumped before reversing to trade 6% lower after hours Wednesday following the release of the retailer’s mixed fourth quarter earnings. Bed Bath & Beyond posted earnings per share of $1.20 on revenue of $3.31 billion. Wall Street projected earnings per share of $1.11 on revenue of $3.33 billion, according to Refinitiv consensus estimates.

Same-store sales decreased 1.4%, compared to the estimated decrease of 1.3%. The company increased its dividend by a penny to 17 cents per share.

The retailer gave strong guidance, saying it sees full-year adjusted earnings per share between $2.11 and $2.20, topping expectations for $1.80.

Bed Bath & Beyond said it named Patrick Gaston lead independent director. The company said it “plans to announce additional changes to the Board, governance structure and compensation practices in the near future.”

Costco shares fell as much as 2% after hours Wednesday following the release of same-store sales data. Costco said comparable sales increased 5.9% in March. E-commerce sales rose 20.6% as the company puts more attention on digital to compete with Amazon. Costco’s stock is up more than 21% year to date.

JetBlue shares were slightly higher after hours Wednesday as the airline announced plans to start flying to London in 2021. The stock had already gained more than 3% during the normal session after CNBC reported Tuesday that the carrier was preparing to announce trans-Atlantic flights. JetBlue called an “all hands” meeting with staff at JFK Airport in New York on Wednesday, as well as viewing parties at some of its main hubs.

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SKY – Skyline (SKY) Tops Q1 Earnings and Revenue Estimates

Skyline (SKY Quick QuoteSKY – Free Report) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 33.93%. A quarter ago, it was expected that this manufactured and modular housing maker would post earnings of $0.36 per share when it actually produced earnings of $0.61, delivering a surprise of 69.44%.Over the last four quarters, the company has surpassed consensus EPS estimates four times.Skyline, which belongs to the Zacks Building Products – Mobile Homes and RV Builders industry, posted revenues of $510.2 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 14.48%. This compares to year-ago revenues of $273.29 million. The company has topped consensus revenue estimates four times over the last four quarters.The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.Skyline shares have added about 85.5% since the beginning of the year versus the S&P 500’s gain of 16.8%.What’s Next for Skyline?While Skyline has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Skyline was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.43 on $417.25 million in revenues for the coming quarter and $1.88 on $1.73 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products – Mobile Homes and RV Builders is currently in the top 4% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

PRIM – Primoris Services (PRIM) Lags Q2 Earnings and Revenue Estimates

Primoris Services (PRIM Quick QuotePRIM – Free Report) came out with quarterly earnings of $0.68 per share, missing the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.45%. A quarter ago, it was expected that this construction contractor would post a loss of $0.09 per share when it actually produced earnings of $0.32, delivering a surprise of 455.56%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Primoris Services, which belongs to the Zacks Building Products – Heavy Construction industry, posted revenues of $881.61 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 3.25%. This compares to year-ago revenues of $908.22 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.Primoris Services shares have added about 7.2% since the beginning of the year versus the S&P 500’s gain of 16.8%.What’s Next for Primoris Services?While Primoris Services has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Primoris Services was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.84 on $1.03 billion in revenues for the coming quarter and $2.40 on $3.74 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products – Heavy Construction is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

DEI – Douglas Emmett (DEI) Beats Q2 FFO and Revenue Estimates

Douglas Emmett (DEI Quick QuoteDEI – Free Report) came out with quarterly funds from operations (FFO) of $0.47 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to FFO of $0.41 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 6.82%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.43 per share when it actually produced FFO of $0.44, delivering a surprise of 2.33%.Over the last four quarters, the company has surpassed consensus FFO estimates three times.Douglas Emmett, which belongs to the Zacks REIT and Equity Trust – Other industry, posted revenues of $225.01 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 3.17%. This compares to year-ago revenues of $207.8 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock’s immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management’s commentary on the earnings call.Douglas Emmett shares have added about 12.7% since the beginning of the year versus the S&P 500’s gain of 16.8%.What’s Next for Douglas Emmett?While Douglas Emmett has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.Ahead of this earnings release, the estimate revisions trend for Douglas Emmett was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $0.45 on $222.51 million in revenues for the coming quarter and $1.79 on $887.11 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust – Other is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

BRY – Berry Petroleum (BRY) Reports Q2 Loss, Misses Revenue Estimates

Berry Petroleum (BRY Quick QuoteBRY – Free Report) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.29%. A quarter ago, it was expected that this independent upstream energy company would post earnings of $0.01 per share when it actually produced earnings of $0.07, delivering a surprise of 600%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Berry Petroleum, which belongs to the Zacks Oil and Gas – Integrated – United States industry, posted revenues of $99.25 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 9.17%. This compares to year-ago revenues of $33.45 million. The company has not been able to beat consensus revenue estimates over the last four quarters.The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.Berry Petroleum shares have added about 52.5% since the beginning of the year versus the S&P 500’s gain of 16.8%.What’s Next for Berry Petroleum?While Berry Petroleum has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Berry Petroleum was favorable. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.16 on $134.37 million in revenues for the coming quarter and $0.32 on $498.7 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas – Integrated – United States is currently in the top 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.