FedEx stock slides as the company's earnings report misses estimates. Visa appoints Chris Suh as the company's new CFO. La-Z-Boy shares slide as the company's Q1 guidance misses expectations. Yahoo Finance Live takes a look at some of the stocks moving in after-hours.
Video Transcript
- FedEx Visa and La-Z-Boy. Kicking it off with FedEx. We're looking at losses of nearly 3% in extended trading. It was all about the guidance here for the move that we are seeing in after hours here. 2024 profit guidance coming in below the Street's expectations. Also, with sales for its most recent quarter, that fell short of what Wall Street was looking for, $21.9 billion.
Now, the weakening demands offsetting some of those cost cutting initiatives that we have seen from CEO Raj Subramaniam here over the last several months. Also, a big announcement here from the company in terms of its executive management CFO, Mike Lenz is set to retire. An external search is underway for his replacement.
We're looking at losses, like I just said, off nearly 3% over the last three months. still looking at gains of about 7%. We are well off the 52-week lows that we hit back in September after the company warned about guidance slowing growth here. Going forward FedEx shares closing today at 231 a share.
Let's move it over to Visa. Another executive shakeup here announced at the company. Also, their CFO naming Chris Suh as the new Chief Financial Officer of Visa. Now, Chris Suh joining Visa from EA where he also held the role of CFO. He also spent 25 years at Microsoft.
You're looking at losses just about 2/10 of a percent in extended trading. I don't think it has a heck of a lot to do with that CFO announcement. Over the past year shares are firmly in the green, up just about 19%. And rounding it out here with La-Z-Boy. That stock up 4 and 1/2 percent in extended trading. The guidance, revenue guidance for its fiscal Q1 missing the Street's expectations.
They see Q1 sales of $470 million to $490 million. Estimate on the Street was at $522 million, so a bit short there in terms of what the Street was looking for. And that's overshadowing the recent beat here for the company Q4, did beat here an adjusted EPS of $0.99 revenue, $561.3 million. Also retail sales up 4% for the quarter. Over the last year though we're still looking in gains at La-Z-Boy up about 18%.
