It was a good day for U.S. stocks as investors plan on playing it conservatively as anticipation builds over whether or not the U.K. will remain a member of the E.U. The S&P 500 surged 0.3% on the day, while the Dow Jones Industrial Average enjoyed a 0.1% increase.
Adobe Systems Incorporated (NASDAQ:ADBE) and FedEx Corporation (NYSE:FDX) updated their full-year outlooks yesterday, while Tesla Motors Inc (NASDAQ:TSLA) made its intentions known.
Here is how these stocks performed after the bell:
Adobe Systems Incorporated (ADBE)
Adobe updated its full-year forecast Tuesday.
The software developer reported that adjusted full-year earnings are expected to be about $2.80 per share, narrower than the $2.84 projected by Wall Street.
The consensus estimate also called for revenue of $5.83 billion, exceeding the $5.8 billion that Adobe predicts it will rake in this year.
The company is coming off a strong quarter that saw its subscription base rise, earning 71 cents per adjusted share. The Thomson Reuters guidance had called for adjusted earnings of 68 cents per share.
Revenue came in at $1.4 billion, matching expectations.
ADBE stock fell 4.8% after hours.
FedEx Corporation (FDX)
FedEx also reported on its full-year outlook yesterday.
Earnings will be around $11.75 to $12.25 a share for the fiscal year ending next May. The prediction is in line with the $12.05 per share that polled analysts noted.
Adjusted earnings were $3.30 for the parcel service provider’s most recent quarter, topping the consensus estimate of $3.28 a share.
FedEx also posted revenue ($13 billion) that came in above projections by $230 million.
FDX stock slid as much as 1.2% after the bell.
Tesla Motors Inc (TSLA)
Tesla shares took a nosedive as the company announced a bid to acquire SolarCity Corp (NASDAQ:SCTY).
Elon Musk and Co. are seeking to buy the solar energy company for about $26.50 to $28.50 a share. This amounts to a 21% to 30% premium over the Tuesday closing price of SCTY.
The two companies have a solid relationship, as Musk is SolarCity’s largest stakeholder, holding 22.2% of the company.
Tesla promises to make SolarCity more competitive in the industry by “offering end-to-end clean energy products.”
TSLA stock plummeted more than 11% after hours Tuesday. SCTY shares soared 14.4% ahead of hump day.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
