In extended trading, several stocks experienced notable fluctuations after the release of quarterly earnings reports. Western Digital's shares dropped by 5%, despite the company reporting fiscal first-quarter adjusted earnings of $4.64 per share, significantly higher than the LSEG consensus estimate of $4.09 per share.
Additionally, its revenue of $4.38 billion surpassed expectations of $4.14 billion. Similarly, Bloom Energy's stock also fell by 5%, even though it reported third-quarter adjusted earnings of 94 cents per share and revenue of $1.24 billion, both of which exceeded analyst estimates of 68 cents per share and $1.06 billion, respectively.
The company also provided guidance for full-year revenues and adjusted earnings that were above expectations. These results highlight a disconnect between strong financial performance and market reactions, particularly in the context of broader market trends affecting technology and AI-related stocks