GameStop, Intel, Steelcase & extra

A person seems at GameStop at sixth Avenue on February 25, 2021 in New York.

John Smith | Corbis Information | Getty Photographs

Take a look at the businesses making headlines after the bell on Tuesday:

GameStop – Shares of the online game retailer dropped 11.9% after the corporate posted disappointing outcomes for its fourth quarter. GameStop logged earnings per share of $1.34 on income of $2.12 billion. Analysts surveyed by Refinitiv predicted earnings per share of $1.35 on income of $2.21 billion. The corporate added it’s contemplating promoting inventory to fund its transformation.

Intel – Shares of the chipmaker rose 4.1% after the corporate introduced it’s spending $20 billion to construct two main chip crops in Arizona. Intel additionally mentioned it’ll act as a producing associate for chip firms that concentrate on semiconductor design however cannot make the chips themselves.

Steelcase – The furnishings firm’s inventory slid 3.9% after the corporate gave weaker-than-expected steerage for the primary quarter. Steelcase expects first-quarter income to vary between $540 million and $570 million. That is beneath a FactSet estimate of $579.9 million. The corporate additionally expects losses to vary between 34 cents per share and 27 cents per share. Analysts had forecast a lack of 10 cents per share. The disappointing forecast overshadowed the discharge of better-than-expected outcomes for the fourth quarter.

Adobe – The pc software program firm’s inventory slipped by lower than 1% even after the discharge of fiscal first-quarter outcomes that topped Wall Road expectations. Adobe posted earnings per share of $3.14 on income of $3.91 billion. Analysts polled by Refinitiv anticipated a revenue of $2.78 per share on income of $3.76 billion.

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