Check out the companies that are making headlines in after-hours trading.
Discover financial services
— Shares of Discover Financial Services fell 6.2% after the credit card company reported quarterly earnings. According to Refinitiv, the company reported earnings per share of $3.77 on its $3.73 billion in sales, and analysts reported earnings of $3.66 on its $3.66 billion in sales. Banks have also increased loan loss reserves year-on-year, which may indicate a weaker economic outlook.
— H.B. Fuller’s stock fell 4.2 points after the company reported lower-than-expected earnings. The adhesives manufacturer reported an adjusted profit of $1.04 on sales of $958 million. According to Refinitiv, Wall Street expected him to make an adjusted profit of $124 million on sales of $1.01 billion.
Stocks making the biggest moves after hours: Discover Financial, Alcoa and morehttps://t.co/FGM9X3nAtj— Ricky Kwok (@rickykwok_) January 18, 2023
— Alcoa’s stock fell 3.6% after the company reported a quarterly net loss of $374 million, or $2.12 per share. The company also said it faced difficult market conditions during this period, including soaring energy and raw material prices and falling aluminum prices.