Gilead, RingCentral, Chegg and more

Finance


Check out the companies making headlines after the bell:

Shares of Gilead dropped as much as 5 percent after hours after the biotech company released disappointing test results from one of its chronic liver disease drugs. The company said it was “disappointed” the study did not achieve its goal but they “remain committed to advancing therapies for patients.”

Shares of RingCentral rose as much as 6 percent in extended trading Monday following the release of their fourth quarter earnings. Revenue was $188.6 million, beating estimates of $181.1 million. Earnings per share were 23 cents, compared to the 18 cents that analysts expected. The company gave strong 2019 revenue guidance and 2019 earnings per share guidance were largely above estimates.

Chegg shares surged as much as 10 percent after hours on Monday following an earnings beat. The educational technology company beat on the top and bottom lines. Earnings per share were 25 cents, beating estimates by 4 cents. Revenue was $95.7 million, vs. the forecast $91.7 million. The company issued strong guidance for this quarter and 2019. The stock has more than doubled its value over the past year.

Amkor Technology shares dropped more than 5 percent in extended trading Monday based on weak first-quarter sales guidance despite better-than-expected earnings. The apple-supplier reported earnings of 19 cents per share on revenues of $1.08 billion. Analysts has expected earnings per share of 8 cents on revenues of $1.06 billion. The company said weak sales guidance reflects an inventory correction currently underway in the smart-phone market.



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