Stocks making the biggest moves after hours: FedEx, Rivian, U.S. Steel and more
Check out the companies making headlines in after-hours trading.
FedEx — Shipping company FedEx saw its shares jump 6% after reporting quarterly earnings and revenue that beat analysts' expectations. FedEx also announced a $5 billion share repurchase program and reinstated its original fiscal 2022 forecast, which it lowered in September.
Rivian Automotive — Electric vehicle maker Rivian saw shares slide about 10% after reporting its first quarterly results as a public company. Rivian said reservations for its electric pickup and SUV increased 28% and announced plans to build a new vehicle assembly plant in Georgia.
General Motors — GM lost about 4% in extended trading following news that Dan Ammann, CEO of its San Francisco area-based self-driving car company Cruise, has left the company. Cruise founder Kyle Vogt will be interim CEO.
United States Steel — Shares of U.S. Steel traded about 4% lower after the company issued fourth-quarter 2021 adjusted EBITDA guidance. EBITDA is expected to be approximately $1.65 billion, which is lower than the $2.13 billion expected, according to Street Account.
Affirm — The installment loan company's shares slid more than 1% after hours, continuing to slide after closing down 10%. The Consumer Financial Protection Bureau announced earlier Thursday it launched an inquiry into buy-now-pay-later credit. It asked Affirm and other companies offering a similar product to provide information that would help it shed light on industry practices and risks.
Jabil — Manufacturing services company's shares edged 1% higher after reporting quarterly earnings of $1.92 per share on revenue of $8.58 billion. That was higher than analysts' estimates of $1.80 per share earnings on revenue of $8.29 billion, according to Refinitiv.
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