Stocks moving in after hours: Chewy, KB Homes
Yahoo Finance anchor Seana Smith breaks down some key after-hours movers on Wednesday.
- All right, Seana. What's moving after hours?
SEANA SMITH: All right, Dave. We got two stocks for you here. We have Chewy and KB Homes. Let's get right to it here. Chewy, that stock off just about 2% here in extended trading. A couple of things. Q1 sales guidance missing the Street's expectations. Also the number of customers that Chewy has declining from a year ago. Off by about 1%. That also came in just below what the Street was expecting.
In the shareholder letter here executives pointing to the fact that we are seeing some softness across the broader economy. That's what they're saying was reflected in the drop that we saw in the number of customers. Also more broadly speaking, their results here. Last quarter year to date we're looking at a gain of just about 1.8% over the last year.
That stock in the red. Off just about 17%. So not as poor of a performer as some of its competitors out there. We also know Petco was under a tremendous amount of pressure today following its results. But Chewy off just about 2.5% here after hours.
Flipping over to KB Home. This stock on the move to the upside. Up just about 3% in extended trading. A solid report here by the home builder. They beat on both the top and bottom line. Also announcing a new $500 million buyback program. The company saying that it is starting to see demand tick up in this very important spring of buying season, attributing some of that to the quote stabilization that we have seen in mortgage rates. So we'll see whether or not that momentum can continue.
Year to date the stock up just about 15.5%. We have seen a bit of an out-performance here from the sector at large. But over the last year we're still looking at shares in the red, off just about 2%. Dave.
- OK, Seana. Thank you. Good stuff.