Yahoo Finance's Seana Smith reports on the performance of trending stocks in the closing hour, including Take-Two Interactive and Cisco.
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- Let's take a look at a couple of trending tickers after hours. We have Take-Two for you and Cisco, two stocks that are on the move. First up, Take-Two shares up just about 7%. The company reporting better than expected numbers in the fourth quarter, beating on bookings. That was up 64% on a year-over-year basis.
In terms of the guidance, though, that coming in just a bit light, saying that they do expect a bit of a slowdown here in fiscal year 2024. The company saying in the release, quote, "The forecast reflects the challenging consumer backdrop," Also the fact that the extension of development timeline for some of its high-profile titles, that has been pushed out. But it looks like the Street is really focusing on the better-than-expected numbers that we just got.
For the most recent quarter, bookings again up over 60% on a year-over-year basis. You're looking at gains of about 7% in extended trading. Flipping over to Cisco, a bit of a report here to unpack. You're looking at the shares off just about 4%, despite the fact that the numbers were pretty strong, and they actually lifted their full-year guidance. They raised their full-year profit guidance as well as their revenue outlook. They now expect sales for the year to come between 10% and 10 and 1/2% growth compared to the prior year.
The headline numbers were strong, but some weakness in those underlying numbers here. For example, service sales, that was up just 3% So slowing growth there. That, of course, is a bit of a worrisome sign here for the Street. We're looking at shares off just about 4%. Akiko?