Cal-Maine Meals, myriad genetics and extra
Cases of eggs from Cal-Maine Foods, Inc. are expected to be distributed to several hundred families by employees of the Mississippi Department of Agriculture and Commerce, along with over 1,400 cases of meat products from Merchants Foodservice and 2,200 gallons of milk from Borden Dairy. at the Mississippi State Fairgrounds in Jackson, Miss., August 7, 2020.
Rogelio V. Solis | AP
Check out the companies that hit the headlines on Tuesday after the bell:
Cal-Maine Foods – Cal-Maine Foods reported a surprising profit for the second quarter of the fiscal year, bringing the stock up more than 2% after close of trading. The company had earnings per share of 25 cents on sales of $ 347.3 million. Analysts polled by FactSet expected a loss of 8 cents per share on sales of $ 333.5 million. The company’s sales of a dozen eggs grew 4.6% year over year.
Myriad Genetics – The biotech company’s shares rose nearly 2% on news. Myriad will investigate “strategic alternatives” for its autoimmune business. The company is also restructuring its international activities.
Smart Global Holdings – Smart Global posted better-than-expected earnings per share for the first quarter, adding 2.4% to the computer memory manufacturer’s inventory. Smart Global reported adjusted earnings per share of 78 cents, beating a FactSet estimate of 70 cents per share. The company also issued a better-than-expected revenue forecast for the current quarter.
Nektar Therapeutics – Nektar stocks were down about 1% after the company announced that Dr. Brian Kotzin will take over the position of Interim Chief Medical Officer effective immediately, replacing the current CMO Wei Lin.