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Here are some of the stocks moving in after-hours trading on Wednesday, May 7.
Shares of Arm Holdings (ARM) are sliding after issuing disappointing Q1 earnings guidance.
Fortinet (FTNT) shares are also slipping after posting first quarter results.
Applovin's (APP) stock is popping after releasing better-than-expected first quarter results and announcing it is selling its mobile gaming business.
Learn more about the action in the video above.
To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.
Let's take a look at what's trending now after hours. We're locking in on shares of arm, Fortinet, and App Lovin. First up, let's take a look at shares of arm. Arm reporting a beat on fourth quarter results, just an operating margin also topping expectations. While looking ahead, company's first quarter earnings outlook missing Wall Street's estimates. Now over to Fortinet, those shares sinking after hours, the company announced the results for the first quarter, with Q1 revenue coming in line with estimates at 1.54 billion. Company also projecting full-year revenue between 6.65 and 6.85 billion that matches estimates. CEO saying in the earnings release that the company will continue setting the industry standard in cybersecurity. And shares of App Lovin, they're getting a boost in after hours trading, following a double earnings beat for the first quarter. The company saw a 40% increase year-over-year in total revenue and exceeded expectations for second quarter guidance. Company also announced it's in agreement to sell its mobile gaming unit to Triple Dot Studios for consideration of $400 million in cash.
