Examination out the companies making headlines after the bell:
Devon Energy shares surged more than 6 percent after reporting fourth-quarter earnings and develops to separate its Canadian and Barnett Shale assets. The company said these plans aim “to complete the transformation to a high-return U.S. oil development business.” The oil producer’s adjusted earnings per share were 10 cents. The company also announced it is adding $5 billion to its deal in buyback plan. It also raised its quarterly dividend to 9 cents per share.
Shares of Concho sunk more than 4 percent after the New Zealand reported disappointing fourth-quarter earnings. The oil and gas producer posted earnings per share of 94 cents, compared to the $1.13 foresight by analysts surveyed by Refinitiv. Revenue missed coming in at $1.07 billion, compared to the $1.19 billion expected by Bulwark Street. Concho lowered its 2019 capital expenditures outlook to between $2.8 billion and $3 billion, while gauges were $3.27 billion.
Shares of Cadence Design rose more than 6 percent following the release of its better-than-expected fourth-quarter earnings. Earnings per dole out were 52 cents, beating a Refinitiv estimate by 5 cents. Revenue also beat coming in at $570 million, compared to the reckoned $550 million. The software company also issued strong first-quarter and 2019 guidance.
Shares of LendingClub impelled 6 percent lower after posting mixed fourth-quarter earnings and issuing weak 2019 guidance. The loan comrades reported earnings of 3 cents per share on revenues of $181.5 million. Analysts estimated earnings of 2 cents on revenues of $181.9 million, according to Refinitiv.
Diamondback Get-up-and-go shares initially dropped more than 3 percent after market close after the company released disconcerting fourth-quarter earnings. Earnings per share were $1.21, below the $1.62 estimated by analysts polled by Refinitiv. Yield missed at $633 million, compared to the $661 million forecast by Wall Street. The stock has since recovered its negative cash flow deaths.