24H|Wolfspeed Plunged 57%; Palo Alto And Take-Two Down 4%; Tuya Up 6%; GDS Up 4%

Tiger Newspress
05-21

Semiconductor supplier Wolfspeed is preparing to file for bankruptcy within weeks, as it struggles to address its debt pile, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. Shares of the company fell over 57% in overnight trading.

Palo Alto Networks's in-line outlook wasn't enough for investors on Tuesday, as shares headed lower in the extended session following the cybersecurity company's fiscal third-quarter results. Shares fell 3.7% in overnight trading.

Take-Two Interactive Software Inc. shares fell as much as 3.6% in overnight trading after the company announced plans to sell $1 billion of new stock to investors.

Tuya Inc. reported quarterly earnings of $0.03 per share which beat the analyst consensus estimate of $0.02 by 50 percent. This is a 50 percent increase over earnings of $0.02 per share from the same period last year. The company reported quarterly sales of $74.69 million which beat the analyst consensus estimate of $73.05 million by 2.24 percent. This is a 21.12 percent increase over sales of $61.66 million the same period last year. Tuya shares jumped 6% in overnight trading.

GDS shares jumped 4% in overnight trading after reporting Q1 income, higher revenue; 2025 sales outlook confirmed.

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