By Kelly Cloonan

FedEx logged higher revenue in its latest quarter on higher shipping rates and volumes, but the shipping company's profit ticked down, hurt by costs related to its freight spinoff, business optimization and shift to reporting on a calendar-year basis. The stock fell 6.2%, to $297.50, in late trading.

KB Home reported lower revenue and profit in the second quarter, as it continued to contend with a difficult housing market. However, revenue topped Wall Street's expectations, and Executive Chairman Jeffrey Mezger said that homes under the company's built-to-order model represented 73% of net orders during the quarter, describing it as "progress that we believe supports stronger, more sustainable performance over time and across market cycles." The stock rose 3.4% to $54.54 in after-hours trading.

Cerebras Systems narrowed its loss and nearly doubled revenue in its first earnings release as a public company, but said it expects its operating margins to remain negative and under pressure through the end of the year. Part of the margin pressure stems from Cerebras's decision to temporarily rent its own data center capacity back from an existing customer. The stock slid 11% to $201.31 in late trading.

Leifras entered into a deal to acquire 100% of the equity interests in child facility operator Swift Japan Corp. Leifras said it would pay about 454.6 million Japanese yen ($2.8 million) for the acquisition. American depositary receipts rose 30%, to $2.91, in after-hours trading.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 23, 2026 19:14 ET (23:14 GMT)

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