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Taking a look at some after hours movers now.
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First up Snap. Snap reporting better than expected fourth quarter earnings and adjusted EBITDA.
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Company also announcing its board of directors has authorized a stock repurchase program up to $500 million.
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Repurchases under this program will be funded from existing cash and cash equivalents.
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Looking ahead, company sees revenue of 1.5 to $1.53 billion, that’s just shy of expectations.
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We’re also watching Elf Beauty. That stock is soaring after the company’s third quarter results topped expectations
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and raised its earnings guidance for the full year. The outlook beating analyst estimates, the company’s CEO saying he’s
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confident in growing market share further, and that was behind the raised outlook.
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Finally, check out shares of Arm Holdings, the chip designer under pressure, even though third quarter earnings beat expectations,
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company’s fourth quarter outlook also failing to excite Wall Street, and that’s been the theme for tech stocks thus far this earnings season.
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Results from Qualcomm also not helping sentiment. That company providing guidance that failed to meet Wall Street’s expectations amid memory supply constraints.