Stocks making the biggest moves after hours: Enphase Energy, PacWest Bancorp, Chipotle, Microsoft and more

by | Apr 25, 2023 | Financial

3,760 Enphase microinverters will power the drying and storage of more than 50,000 tons of California rice at Strain Ranch in Arbuckle, Calif., Tuesday, Feb. 19, 2013.Alison Yin | APCheck out the companies making headlines in extended trading.Enphase Energy — The solar inverter company saw shares slide about 16% after hours after reporting a mixed quarter that included disappointing revenue results. Enphase brought in revenues of $726 million. Analysts were looking $732.5 million, according to Refinitiv. Competitor SolarEdge slid more than 6%.PacWest Bancorp — Shares of the regional bank jumped 15% after PacWest said it has seen deposit inflows over the past month. PacWest said deposits fell more than 16% during the first quarter to roughly $28.2 billion. However, the bank said it has added about $1.8 billion in deposits since March 20, which was its prior update to investors. That sum includes $700 million in deposits in April. PacWest also reported a net loss of $1.21 billion for the quarter, due largely to a goodwill impairment charge.Chipotle Mexican Grill — The burrito chain jumped 7.7% after hours following the company’s latest financial results. Chipotle’s earnings and revenue for the first quarter beat estimates by analysts surveyed by Refinitv. Same-store sales rose 10.9%, topping StreetAccount estimates of 8.6%. Microsoft — The tech giant’s shares rose nearly 5% after the company reported quarterly earnings and revenue that exceeded analysts’ expectations, according to Refinitiv. Revenue in Microsoft’s Intelligent Cloud business segment grew by 16% to $22.08 billion, coming in higher than analysts predicted.Alphabet — The Google parent saw shares rise 4% after it posted first-quarter revenue that topped estimates, according to Refinitiv, and said reported a profit in its cloud business for the first time on record. The company’s board also authorized a $70 billion share buyback. Big Tech peers Amazon and Meta gained about 2% each.Texas Instruments — The chipmaker gained nearly 2% after reporting better-than-expected earnings for the first quarter and revenue that was in line with estimates, according to Refinitiv.Visa — The payments giant rose almost 2% in extended trading after reporting adjusted earnings of $2.09 per share on revenues of $7.99 billion for its latest quarter, according to Refinitiv. Analysts were expecting earnings of $1.99 per share on revenues of $7.79 billion. — CNBC’s Jesse Pound contributed reporting …

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