FedEx shares fell after earnings miss; Nike, Micron rise

Several major companies made significant stock moves in after-hours trading. FedEx's shares dropped more than 4%. The shipping company did not meet earnings expectations for the third quarter, reporting adjusted earnings of $4.51 per share. Analysts had expected $4.54 per share. However, FedEx did report quarterly revenues of $22.16 billion, which was slightly above the forecast. Micron Technology saw its stock rise by 4%. The company provided a positive outlook for the next quarter. It expects adjusted earnings of $1.57 per share and $8.80 billion in revenue, exceeding Wall Street's predictions. Nike's shares increased by 2%. The sportswear brand reported earnings of 54 cents per share and revenue of $11.27 billion in the third quarter. Both figures surpassed analysts' expectations, despite a 9% decline in sales compared to last year. Planet Labs experienced a decline of 9% in its stock price. The satellite imagery company reported revenue of $62 million for the fourth quarter, which met expectations but did not boost investor confidence. U.S. Steel saw its shares fall about 2%. The company provided weak guidance for the first quarter, expecting losses between 49 and 53 cents per share. Analysts had estimated a smaller loss of 32 cents. Lennar, the homebuilder, slipped 3%. Its guidance for new orders fell short of analysts' expectations. However, its first-quarter earnings of $1.96 per share and revenue of $7.63 billion exceeded forecasts.