A man watches GameStop on 6th Avenue on Feb. 25, 2021 in New York.
John Smith | Corbis News | Getty Images
Check out the companies making headlines on Tuesday after the bell:
GameStop – Shares of the video game retailer fell 11.9% after the company posted disappointing fourth-quarter results. GameStop recorded earnings per share of $ 1.34 on revenues of $ 2.12 billion. Analysts polled by Refinitiv predicted earnings per share of $ 1.35 on revenue of $ 2.21 billion. The company added that it is considering selling stock to finance the transformation.
Intel – Shares of the chipmaker were up 4.1% after the company announced it would spend $ 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 make the chips themselves.
Steelcase – Shares of the furniture company fell 3.9% after the company issued weaker-than-expected guidance for the first quarter. Steelcase expects sales in the first quarter to be between $ 540 million and $ 570 million. That’s less than a FactSet estimate of $ 579.9 million. The company also expects losses to range between 34 cents per share and 27 cents per share. Analysts had predicted a loss of 10 cents per share. The disappointing forecast overshadowed the release of better than expected results for the fourth quarter.
Adobe – Shares of the computer software company fell less than 1%, even after the release of its first quarter fiscal results that exceeded Wall Street expectations. Adobe posted earnings per share of $ 3.14 on revenues of $ 3.91 billion. Analysts polled by Refinitiv expected earnings of $ 2.78 per share on revenue of $ 3.76 billion.