A man watches GameStop in 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | Getty Images
Take a look at the companies that make headlines on Tuesday after the clock:
GameStop – Shares of the video game retailer fell 11.9% after the company achieved disappointing results for its fourth quarter. GameStop earned $ 1.34 per share on $ 2.12 billion in revenue. Analysts surveyed by Refinitiv predicted earnings per share of $ 1.35 on revenue of $ 2.21 billion. The company added that it was considering selling shares to finance its transformation.
Intel – The shoemaker’s shares rose 4.1% after the company announced it would spend $ 20 billion to build two large disk plants in Arizona. Intel has also said it will act as a manufacturing partner for chip companies that focus on semiconductor design but cannot make the chips themselves.
Steelcase – The share of the furniture business decreased by 3.9% after the company forecast weaker than expected for the first quarter. Steelcase expects revenue to fluctuate between $ 540 million and $ 570 million in the first quarter. That’s less than a $ 579.9 million FactSet estimate. The company also expects losses to range between 34 cents and 27 cents per share. Analysts had forecast a loss of 10 cents per share. The disappointing forecast overshadowed the release of better-than-expected fourth-quarter results.
Adobe – The share of the computer software company fell by less than 1%, even after the announcement of fiscal results in the first quarter that exceeded Wall Street expectations. Adobe earned revenue of $ 3.14 on revenue of $ 3.91 billion. Analysts polled by Refinitiv expected earnings of $ 2.78 per share on revenue of $ 3.76 billion.