Check out the companies making headlines after the bell:
Fabrinet shares surged more than 6 percent after the bell on the back of stronger-than-expected earnings. The electronics manufacturer posted quarterly earnings per share of 81 cents versus a Reuters estimate of 71 cents. CEO Seamus Grady said the results were driven in part by “strong growth from non-optical communications products, with a particularly notable performance in the industrial laser and automotive markets.”
Nordson’s stock fell more than 6 percent in after-hours trading after the company reported mixed quarterly results. Nordson posted adjusted earnings per share of $1.60 for its fiscal third quarter, in line with expectations. Sales totaled $581.2 million, below a FactSet estimate of $590.8 million. The adhesives and coatings manufacturer also issued weaker-than-expected revenue guidance for fiscal fourth quarter. Nordson said it expects sales to range between $550 million and $573.9 million, below a FactSet forecast of $588.8 million.
Hertz shares fell more than 1 percent after announcing CFO Tom Kennedy is resigning from his post. Jamere Jackson, who previously worked as Nielsen Holdings’ chief financial officer, will replace Kennedy starting Sept. 10, 2018.
Cree’s stocks dropped more than 3 percent after announcing a convertible-note offering of $500 million. The notes will be convertible to cash, common Cree shares, or a combination of the two, the company said in a press release. Part of the proceeds will be used to help with the expansion of its Wolfspeed unit which, among other things, makes compounds found in radar systems.