Shares of higher education company Perdoceo Education (NASDAQ:PRDO)
jumped 3.2% in the afternoon session after the company reported strong second-quarter results that surpassed analyst expectations for both earnings and revenue. The education provider posted revenue of $209.6 million, a 25.7% increase from the previous year, driven by a 17.4% rise in total student enrollments. The company's adjusted earnings per share landed at $0.67 and surpassed the consensus estimate of $0.60. In a show of confidence, management boosted shareholder returns. The board authorized a new $75 million share buyback program and approved a 15.4% increase in the quarterly dividend. The company also provided an optimistic full-year forecast, which further bolstered investor sentiment.
Shares of manufacturing company Leggett & Platt (NYSE:LEG)
fell 12% in the morning session after the company reported second-quarter results that showed a drop in sales and a weak forecast, with a broader market downturn adding to the negative sentiment. The furniture and bedding component maker's sales decreased by 6% from the prior year. While adjusted earnings per share ticked up slightly, the figure missed some analyst estimates. The company's outlook also concerned investors, as it expected a mid-teens volume decline in its Bedding Products segment. Leggett & Platt did maintain its full-year guidance, but that forecast still projected an annual sales drop. The negative report landed amidst a wider market sell-off, which was triggered by a weak U.S. jobs report and the announcement of new tariffs.
Shares of real estate technology company eXp World (NASDAQ:EXPI)
fell 15.4% in the morning session after the company reported disappointing second-quarter financial results, including a significant earnings miss and a net loss.
Shares of professional consulting firm ICF International (NASDAQ:ICFI) jumped 9.1% in the afternoon session after it reported second-quarter results that showed stronger-than-expected profits, fueled by significant growth in its commercial energy business. Investors looked past a slight revenue miss, focusing instead on earnings per share of $1.66, which beat analyst forecasts. The company's commercial energy division delivered a remarkable 27% year-over-year revenue increase, offsetting challenges in the federal government sector. A strong book-to-bill ratio of 1.30 pointed to a healthy pipeline of future work. Management also reaffirmed its full-year guidance and signaled a return to growth in 2026, which further boosted investor sentiment.
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