After-Hours Movers: NextEra Energy, Lennar, La-Z-Boy, and More
La-Z-Boy Soars 11% After Beating Earnings Estimates
La-Z-Boy saw a significant rise of 11% in its stock price after announcing fourth-quarter earnings that surpassed consensus estimates. The management team expressed optimism, forecasting continued outperformance in the industry for Fiscal 2025.
NextEra Energy Falls 2% After Announcing New Equity Units
NextEra Energy experienced a 2% decline in its stock value following the announcement of plans to sell $2.0 billion worth of equity units. Each unit will include:
- A contract to purchase NextEra Energy common stock in the future.
- A 5% undivided beneficial ownership interest in a debenture from NextEra Energy Capital Holdings, Inc., due June 1, 2029.
Lennar Corp. Drops 2.25% Despite Strong Second-Quarter Earnings
Despite reporting second-quarter earnings that exceeded estimates, Lennar Corp. saw a 2.25% fall in its stock price. This drop was largely due to the company's guidance for new orders in the third quarter, which did not meet market expectations.
Chegg Rises 11% Amid Workforce Reduction Plan
Chegg also enjoyed an 11% increase in its stock price after announcing a strategic move to reduce its global headcount by 23%. The company aims to become a more efficient, leaner organization through this restructuring effort.
Key Takeaways
- La-Z-Boy and Chegg both posted significant stock gains on the back of strong earnings and strategic plans.
- NextEra Energy and Lennar Corp. saw their stock values decline despite positive earnings, influenced by other market factors.
These after-hours movements indicate the market's nuanced reactions to both earnings reports and strategic corporate announcements.
