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Small-Cap Snapshot: Bed Bath & Beyond shares soar after posting better-than-expected 3Q results

Smart Global Holdings sank after reporting quarterly earnings that trailed the estimates of analysts
A Bed Bath & Beyond sign
In September, the retailer reported earnings that trailed the estimate of analysts

Bed Bath & Beyond Inc (NASDAQ:BBBY) advanced Wednesday in after hours trading, after the company beat analyst estimates in its fiscal third-quarter results.

Shares were up 16.2% at US$14.25.

The home goods specialty retailer beat Wall Street estimates, posting a third-quarter EPS of $0.18, better than analyst estimates of $0.17.

The New Jersey-based company saw its revenue for the quarter come in at $3 billion versus the consensus estimate of $3.04 billion.

READ: Bed Bath & Beyond beats on 3Q earnings; shares perk up

Aphria Inc (NYSE:APHA) rose after announcing that it has completed its acquisition of CC Pharma GmbH, a distributor of drug products including medical cannabis to more than 13,000 pharmacies in Germany and throughout Europe. Leamington, Ontario-based paid Aphria paid €18.92 million (US$22 million) in cash to the former shareholders of CC Pharma with an earn-out multiple on future earnings of as much as another €23.5 million (US$27 million) if certain milestones are met.

Shares of Aphria advanced $0.19, or 3%, to $6.52 in New York’s premarket trading

Smart Global Holdings Inc (NASDAQ:SGH) sank after reporting quarterly earnings that trailed the estimates of analysts. For the first quarter ended November 30, the Newark, California memory chip company posted earnings per share of $1.75, compared with the $1.77 average estimate of analysts. Smart Global posted net sales of $393.9 million, up 48% from a year earlier. Driving the quarter was the specialty memory business, according to Smart Global.

Shares were down $8.85, or 28%, to $23.05.

Tenet Healthcare Corp (NYSE:THC) extended its gains a day after CEO Ronald A. Rittenmeyer's presentation at the JPMorgan Chase & Co (NYSE:JPM) health-care conference in San Francisco. Earlier this month, the Dallas-based company announced signing a multiyear agreement with Cigna Corp (NYSE:CI) that provides Cigna members covered under its commercial health plans with uninterrupted in-network access to Tenet health providers.

Shares of Tenet were up $1.16, or 5.7%, to $21.49.

The Russell 2000 index of small-cap stocks climbed 0.7% to 1,436.39 on Wednesday.

Contact Dennis Fitzgerald at [email protected]
 

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