Stocks to Watch: Qualcomm, Tripadvisor, Synaptics, PacWest, Option Care Health

By Sabela Ojea

Qualcomm on Wednesday gave a gloomy sales outlook as it signaled the market for smartphones was more turbulent than expected. Shares of the mobile-phone chip company declined 6.6% to $105.40 in after-hours trading.

Tripadvisor widened its loss in the latest quarter as the impact of incremental income tax expenses weighed on the bottom line. Shares of the online travel company fell 8.1% to $15.71 in after-hours trading.

Synaptics reported fiscal third-quarter adjusted earnings and revenue above Wall Street expectations, but called for a weaker current quarter due to "the current economic slowdown." Shares of the maker of human-interface hardware and software dropped 20% to $70.80 in after-hours trading.

PacWest Bancorp is considering strategic options, including a sale, Bloomberg reported on Wednesday. Shares of the regional bank plunged 55% to $2.86 in after-hours trading.

Option Care Health and Amedisys on Wednesday said the two companies have entered into an agreement to combine in an all-stock deal that values Amedisys at $3.6 billion including net debt. Shares of Option Care Health, a provider of home-and alternate-site infusion services, dropped 16% to $27.50 in after-hours trading.

Write to Sabela Ojea at [e-mail]; @sabelaojeaguix

(END) Dow Jones Newswires

May 03, 2023 19:34 ET (23:34 GMT)

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