Stocks Making the Biggest Moves After Hours: Snap, Gap, and More

People walk past Snap Inc.’s Snapchat sign on display in downtown Los Angeles, California on October 2, 2021.

Patrick T Fallon | AFP | Getty Images

Check out the companies making headlines after the bell:

Snap — Shares of the social media platform are up more than 6% in volatile after-hours trading following the company’s first-quarter earnings report. Snap missed Wall Street expectations for earnings and revenue, forecasting disappointing revenue growth in the current quarter. However, the number of daily users grew by 18% annually, which was more than expected.

Gap – Shares of the retailer plunged 10% after the company announced that the CEO of its Old Navy division, Nancy Green, is leaving the company this week. Gap also lowered its guidance for fiscal 2022 net revenue growth amid execution challenges in its Old Navy business.

FirstEnergy – Shares of the energy company fell more than 1% in extended trading after the company reported lower-than-expected earnings for the first quarter. FirstEnergy reported adjusted operating earnings per share of 60 cents, missing the estimate of 62 cents per Refinitiv. However, the earnings exceeded expectations.

PPG Industries — The materials company saw its shares rise about 1% in after-hours trading after better-than-expected quarterly results. PPG posted earnings of $1.37 per share, beating Refinitiv’s estimate of $1.11 per share. The company reported sales of $4.3 billion, also beating expectations. Stocks Making the Biggest Moves After Hours: Snap, Gap, and More

Jane Marczewski

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