In the after-hours trading session, U.S. Steel Corporation (NYSE:X) saw a 2% increase in its stock value, while Scholastic Corp (NASDAQ:SCHL) experienced a significant decline of 12%. Highpeak Energy Acquisition Corp (NASDAQ:HPK) also made headlines with a 7% increase in its stock price.
Scholastic Corp (SCHL) Records 12% Decline:
Scholastic Corp reported its first-quarter earnings, revealing an EPS (Earnings Per Share) of ($2.20). This result fell notably short of analyst expectations, missing the consensus estimate of ($1.20) by $1.00. Furthermore, the company’s quarterly revenue stood at $228.5 million, significantly below the consensus estimate of $272.52 million.
Highpeak Energy Acquisition Corp (HPK) Surges 7%:
Highpeak Energy Acquisition Corp experienced a notable upswing, with its stock prices rising by 7% during after-hours trading. This positive movement coincided with the CEO’s acquisition of over $8 million worth of company stock.
Canada’s Stelco Holdings Eyes Bid for U.S. Steel (X):
In a noteworthy development, Canada’s Stelco Holdings is reportedly considering a bid for United States Steel Corporation (X). According to reports from Bloomberg, Stelco Holdings is contemplating this move, joining other potential bidders interested in acquiring U.S. Steel.
These after-hours market movements indicate dynamic shifts in the trading landscape, with U.S. Steel’s potential bid attracting attention, while Scholastic’s disappointing earnings results led to a significant decline in its stock value. Highpeak Energy Acquisition Corp, on the other hand, garnered positive investor sentiment following substantial stock purchases by its CEO.
Please note that all stock movements are subject to change as after-hours trading continues, and further developments may impact market dynamics. Stay tuned for updates on these market developments.
