Stocks move heavily after hours: DIS, MAT, WYNN

Barbie dolls in the Mattel exhibit at the annual Toy Fair in New York.

Stan Honda | AFP | Getty Images

Check out the companies making headlines in extended trading.

Disney — Shares of the entertainment company rose more than 6% after the company released its first-quarter earnings report. Disney reported a less-than-expected decline in subscribers, as well as a decline in revenue and earnings. CEO Bob Iger, who returned to the company in November, also announced that Disney would cut 7,000 jobs as part of a cost-cutting and reorganization plan.

mattel – Shares plunged 10% after the company said shoppers bought fewer toys this holiday season as higher prices on groceries and other necessities led to tighter budgets. Fourth-quarter revenue fell 22% year over year. According to Refinitiv, both sales and earnings were below analyst estimates.

Robin Hood — Shares rose 5% after Robinhood missed revenue expectations in its most recent earnings report. The company reported revenue of $380 million, which is below forecasts of $397 million, according to consensus estimates by Refinitiv. In addition, Robinhood announced it would repurchase Sam Bankman-Fried’s stake in the company. FTX’s Bankman-Fried announced in May that he had acquired a 7.6% stake in Robinhood.

Confirm – Financial firm Buy Now, Pay Later slumped about 17% in extended trading as second-quarter earnings and revenue missed analyst estimates, according to Refinitiv. CEO and founder Max Levchin also announced the layoff of 19% of the workforce effective immediately.

ceridians — The software company saw its shares rise 6.5% in extended trading after it released earnings before items that nearly doubled analysts’ expectations and reported better-than-expected revenue, according to FactSet. The guidance for the first quarter was also more optimistic than the analysts had forecast.

Lincoln National — The life insurance company slipped 2.5% in after-hours trading after reporting fourth-quarter results that fell short of Wall Street’s expectations. Lincoln National posted earnings of 97 cents a share on sales of $4.2 billion. Analysts called for earnings per share of $1.83 on sales of $4.59 billion, according to FactSet.

Wynn Resorts — Shares of the hotel and casino operator rose 3%. Though the company reported revenue of $1 billion for the most recent quarter, compared to analysts’ expectations of $958 million, according to Refinitiv. It also reported an adjusted loss of $1.23 per share.

MGM Resorts — Shares of Casino stock rose 2%. MGM beat analyst estimates for fourth-quarter revenue, posting $3.59 billion compared to $3.35 billion expected by Wall Street, according to Refinitiv. However, the company posted a bigger-than-expected loss of $1.53 per share versus the $1.36 loss per share that analysts had been expecting.

– CNBC’s Darla Mercado, Christina Cheddar-Berk, Scott Schnipper, Hakyung Kim and Sarah Min contributed coverage. Stocks move heavily after hours: DIS, MAT, WYNN

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