Following after-hours earnings reports VMware ( VMW ) does not regularly follow-up gains in the next day's session with heftier same-direction trade. Instead, it tends to pull off sharp reversals. On the downside, it has a history of favoring adding to its after-hours declines in next-day play.
Over the 11 years of earnings reports we've tracked, the stock favors reversing direction between the sessions; it's narrowed 21 times and in 21 quarters has widened its evening share move during the next day's session.
Looking deeper into data, the issue has followed up evening earnings with a gain 22 times, but longs take note: the stock extended that move only nine times. On the downside, the stock declined in extended-hours trading 20 times, and widened that move 12 times, or 60% of the time.
VMware is due with Q1 results after the bell today. The average forecast in an analyst survey by Capital IQ is for $1.15 per share in earnings on $1.95 billion in revenue.
Here's a look at past performance:
On March 1, 2018, VMW dipped 0.9% in after-hours trade despite posting better-than-expected Q4 results. The stock moved lower the next day, ending the March 2 regular session off 6.1%.
On Nov. 30, 2017, VMW edged up 0.04% in evening trade after topping Q3 expectations. The stock jumped higher the following day, closing the Dec. 1 regular session up 3.9%.
On Aug. 24, 2017, VMW dipped 0.4% in the after-hours despite posting better-than-expected Q2 results. Shares reversed direction the next day, closing the Aug. 25 regular session up 1.9%.
On June 1, 2017, VMW declined 1.3% in night trade despite topping Q1 expectations. The stock added to its declines the next day, closing the June 2 regular session off 2%.
On Jan. 26, 2017, VMW advanced 3.3% in evening trade after beating Q4 Street estimates. The stock edged just higher the next day, closing the Jan. 27 regular session up 3.4%.
On Oct. 26, 2016, VMW gained 3.4% in after-hours trade after posting better-than-expected Q3 results. The stock cut its upside slightly the next day, closing the Oct. 27 regular session up 3.3%.
On July 18, 2016, VMW surged 9.2% in evening trade after beating Q2 expectations. The stock narrowed its upside slightly the next day, closing the July 19 regular session up 9.0%.
On April 19, 2016, VMW advanced 9.8% in evening trade after beating Q1 estimates and approving a stock buyback. The stock launched higher the next day, closing the April 20 regular session up 13.7%.
On Jan. 26, 2016, VMW declined 6.4% in after-hours action after beating Q4 expectations but also disclosing a restructuring and naming a new CFO. The stock was hit for deeper declines the next day, closing the Jan. 27 regular session down 9.8%.
On Oct. 20, 2015, VMW dropped 4.6% in evening trade after beating Q3 estimates and guiding mostly in-line for Q4. The stock cratered lower the next day, closing the Oct. 21 regular session down 19.4%.
On July 21, 2015, VMW declined 1.7% in after-hours trade after beating Q2 EPS estimates and coming in just shy on revenue. The stock reversed direction the next day, ending the July 22 regular session up 3.5%.
On April 21, 2015, VMW edged up 0.1% in evening trade after topping Q1 Street estimates. The stock added to its gains the next day, closing the April 22 regular session up 6.5%.
On Jan. 27, 2015, VMW advanced 1.1% in night trade after beating Q4 earnings expectations. The stock reversed sharply the next day, ending the Jan. 28 regular session down 6.8%.
On Oct. 21, 2014, VMW declined 5.3% in after-hours trade after topping Q3 earnings estimates and meeting on revenue. The stock was hit for sharper declines the following day, closing down 7% on Oct. 22.
On July 22, 2014, VMW slipped 0.4% in night trade despite topping Q2 Street estimates. It added to its dip the next day, ending the July 23 regular session down 1.5%.
On April 22, 2014, VMW declined 5.6% in after-hours trade after just topping Q1 expectations. It tumbled lower the following day, closing the April 23 regular session down 9.1%.
On Jan. 28, 2014, VMW declined 2.4% in night trade despite beating Q4 Street estimates. The stock added to its losses the next day, closing the Jan. 29 regular session down 3.4%.
On Oct. 21, 2013, VMW gained 7.9% in after-hours trade after beating Q3 EPS estimates, meeting on revenue and setting guidance mostly in line to below expectations. The stock narrowed its upside the next day, closing the Oct. 22 regular session up 2.8%.
On July 23, 2013, VMW soared 10.9% in night trade after topping Q2 expectations and setting in-line guidance. The stock added to its gains the next day, rising 16.7% in the July 24 regular session.
On April 23, 2013, VMW declined 6.4% in after-hours trade after beating on Q1 and setting its Q2 revenue view below expectations. The declined narrowed in the April 24 regular session, closing down 5.9%.
On Jan. 28. 2013, VMW slumped 14.7% in night trade after beating on Q4 but setting its Q1 guidance below expectations. The stock was hammered lower the next day, ending the Jan. 29 regular session down 21.5%.
On Oct. 23, 2012, VMW advanced 2.4% in after-hours trade after beating on Q3 EPS and guiding in-line. The stock narrowed its upside slightly the next day, closing the Oct. 24 regular session up 2.3%.
On July 23, 2012, VMW dropped 3.1% in night trade after beating on Q2 and setting in-line guidance. The stock cut its downside the next day, closing the July 24 regular session off 0.3%.
On April 18, 2012, VMW edged up 2.4% in after-hours trade after topping Q1 estimates. The gains thinned out slightly the next day as the stock closed the April 19 regular session up 2.2%.
On Jan. 23, 2012, VMW gained 4.4% In evening trade after beating on Q4 and setting in-line guidance. It jumped higher the next day, rising 7.7% by the close on Jan. 24.
On Oct. 17, 2011, the stock slipped 0.4% after an earnings and revenue beat. Shares jumped 8.2% the next day.
On July 19, 2011, the stock rose 6.4% after VMW easily beat the Street view with Q2 results. Shares dipped 0.1% the next day.
On April 19, 2011, the stock jumped 11.3% in evening hours following an earnings beat and guidance that topped the Street view. Shares rose 13.8% the next day.
On January 24, 2011, the stock fell 5.3% despite beating with results. Shares dropped 3.9% the next day
On Oct. 18, 2010, the stock fell 4.6% despite a Q3 beat. Shares dropped 6.6% the next day.
On July 20, 2010, the stock gained 4.1% after a quarterly earnings, guidance beat. Shares were up a slimmer 1% the next day.
On April 20, 2010, VMW edged up 0.3% in after-hours action after beating Q1 expectations. The stock surged higher the following day, closing the April 21 regular session up 9%.
On Jan. 25, 2010, the stock was up 17.7% after an earnings beat. Shares rose 12.6% the next day.
On Oct. 21, 2010, the stock edged up 1.5% in evening trading after an earnings report that that beat Q3 estimates. Shares reversed to slip 0.3% the next day.
On July 22, 2009, the stock gained 6.7% after a narrow beat with Q2 results. The gain was trimmed to 4.8% during the following day's regular trading session.
On April 22, 2009, the stock tanked 15.1% on a report that beat with EPS but missed with revenue. Shares fell a deeper 20.3% the next day.
On Jan. 26, 2009, the stock fell 2.9% after a Q4 beat but revenue guidance below the Street view. Shares closed down a slightly narrower 2.8% the next day.
On Oct. 21, 2008, the stock jumped 22.8% during evening trading after reporting ahead of the Street with its latest results. The stock gain narrowed to 7.1% the next day.
On July 22, 2008, the stock tanked 14.7% during evening trading after VMW missed with revenue. The loss was trimmed considerably, to 2.5% by the close of the trading the following day.
On April 22, 2008, the stock jumped 14.7% during evening trading after a Q1 revenue beat and upbeat guidance. Shares narrowed that gain to 4.8% the next day.
On Jan. 28, 2008, the stock plunged 23% during evening trading after a EPS beat but revenues well below Street view. The loss swelled to 33.8% the next day.
On Oct. 24, 2007, the stock gained 3.8% after a Q3 beat. The advanced improved to 10.1% the next day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
