Levi Strauss shares dropped to $22.90 despite the company posting improved second-quarter sales figures. The market reaction suggests skepticism regarding the firm’s revised projections for the remainder of the year.
In section Market Quotes
Levi Strauss Stumbles as Smaller Peers Rally in After-Hours Trading
A 6% slide for Levi Strauss & Co. dominated Wednesday’s after-hours session, as the denim giant’s raised fiscal outlook failed to satisfy Wall Street’s appetite. While investors punished the apparel maker for its cautious guidance, several smaller industrial and utility stocks saw double-digit gains following positive operational updates.
Contrasting the retail slump, Republic Power Group surged 26% to $2.25 after confirming it regained compliance with Nasdaq’s minimum bid price requirement. Industrial players also outperformed: AZZ shares climbed 8.6% to $155.98 following an upward revision to its full-year revenue and earnings forecast. Meanwhile, Ampco-Pittsburgh recorded a 15% gain to $8.22, buoyed by a 32% increase in customer order activity reported for the first half of 2024.
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