Broadcom — Shares of the semiconductor company climbed 1% in extended trading after Broadcom released its second-quarter financial results. The company posted earnings of $5.14 per share excluding some items, which was in line with analysts’ estimates, while its reported revenue of $5.74 billion exceeded Wall Street’s expectations of $5.69 billion. Broadcom gave third-quarter guidance for semiconductors that “reflects a surge in demand from cloud, telecom and enterprise customers, offset by supply chain constraints and an expected substantial reset in wireless,” according to a company statement. Broadcom (AVGO) shares had declined as much as 3% after hours and were last up 1%. That followed a 0.2% decline in the regular session where shares closed at $308.89. For the current quarter ending August, Broadcom expects to generate revenue of $5.75 billion. Analysts were predicting Broadcom earnings of $5.32 a share on sales of $5.79 billion in its fiscal third quarter. Shares of Broadcom have gained 16% over the past 12 months.
Verizon Communications Inc (NYSE:VZ), is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. Shares of Verizon Communications Inc. (VZ) ended the trading day Thursday at $57.22, representing a move of 0.69%, or $0.39 per share, on volume of 15.81 million shares. Verizon Communications (VZ) closed at $57.22, marking a +0.69% gain. The 24 analysts offering 12-month price forecasts for Verizon Communications Inc have a median target of $60.00, with a high estimate of $70.00 and a low estimate of $54.00. The median estimate represents a +4.87% increase from the last price of $57.22.
Restoration Hardware (RH) — Shares of the home furnishings retailer whipsawed in extended trading after RH provided its first-quarter earnings. The company reported earnings of $1.27 per share excluding some items on revenue of $482.9 million, while analysts estimated earnings of 81 cents per share with revenue of $480.6 million, RH said its business continued to accelerate in May, with core business demand increasing around 7% from last year, according to a company statement. The retailer’s stock hit a new 52-week high on Thursday. Shares closed at $248.41 after opening at $253.08 for a move of -2.68%. The company now has a market cap of $4.79 billion. Broadcom’s revenue rose 4% to $5.74 billion in the second quarter ended May 3, beating analysts’ average estimate of $5.69 billion. The 14 analysts offering 12-month price forecasts for RH have a median target of $135.00, with a high estimate of $270.00 and a low estimate of $100.00.
DocuSign — The digital transaction platform’s stock climbed 3% in extended trading after the company published its financial results for the first quarter. DocuSign reported earnings of 12 cents per share excluding some items on revenue of $297.0 million that was up 39%. Analysts polled expected earnings of 10 cents per share on revenue of $281.1 million. The company offered strong guidance on revenue for the second quarter and fiscal year. DocuSign shares closed at $147.45. The future expectation target for the high price for DOCU is $150.00 and the low-price target for DOCU is $52.00.
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