A man watches GameStop on 6th Avenue on February 25, 2021 in New York City.
John Smith | Corbis News | Getty Images
Check out the companies that make news after Tuesday’s bell:
GameStop: Video game retailer shares fell 11.9% after the company posted disappointing results for its fourth quarter. GameStop posted earnings per share of $ 1.34 in revenue of $ 2.122 billion. Analysts polled by Refinitiv predicted earnings per share of $ 1.35 in revenue of $ 2221 million. The company added that it is considering selling shares to fund its transformation.
Intel – Chips maker shares rose 4.1% after the company announced it would spend $ 20 billion building two large chip plants in Arizona. Intel also said it will act as a manufacturing partner for chip companies that focus on semiconductor design but cannot manufacture them on their own.
Steelcase: The furniture company’s shares fell 3.9% after the company gave a weaker-than-expected target during the first quarter. Steelcase expects first-quarter revenue to hover between $ 540 million and $ 570 million. This is lower than a FactSet estimate of $ 579.9 million. The company also expects losses to range from 34 cents per share to 27 cents per share. Analysts had predicted a loss of 10 cents per share. The disappointing forecast overshadowed the release of better-than-expected results for the fourth quarter.
Adobe: Computer software company shares fell less than 1%, even after posting first-quarter tax results that exceeded Wall Street expectations. Adobe posted earnings per share of $ 3.14 in revenue of $ 3.91 million. Analysts surveyed by Refinitiv expected a profit of $ 2.78 per share with revenue of $ 3,766 million.