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Rob Roy, founder and chief executive officer of Switch Inc., center, rings the opening bell before the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, Oct. 6, 2017.
Check out the companies making headlines after the bell:
Switch shares surged as much as 8 percent after hours Tuesday after the telecommunications company reported mixed fourth-quarter earnings. The company earned $103 million in revenue, missing estimated of $104 million, according to Refinitiv. Earnings per share were 5 cents, beating expectations by 2 cents. The stock later gave up most of its after-hours gains.
Switch estimated full-year 2019 revenues between $436 and $445 million, compared to the $450 million forecast by analysts. The stock has recover most of its gains.
Clearwater Paper Corporation fell more than 6 percent after market close Tuesday after reporting fourth-quarter earnings. The company reported net sales of $428.7 million for the fourth quarter of 2018, 1.8% lower than net sales of the same quarter of 2017.
“While the performance of our consumer products business continues to be impacted by an increasingly competitive market, we have made great progress across this business, and are encouraged by the improvements in our operating results,” said the company’s president and CEO Linda Massman.
Cara Therapeutics shares jumped more than 11 percent in extended trading Tuesday following the release of the company’s fourth-quarter earnings. The company posted $5.5 million in revenue. The company said they expect 2019 to be a “transformative year” for the company because of “significant clinical readouts” of their pre-dialysis drugs.