Stocks making the biggest moves after hours: Lumen Technologies, Snowflake, Zoom Communications and more

Zoom Communications, Snowflake, and Urban Outfitters shares rose in extended trading following positive earnings reports and revenue forecasts that exceeded analyst expectations; Zoom's fiscal 2026 revenue is projected between $4.80 billion and $4.81 billion, Snowflake's adjusted EPS beat estimates by 3 cents, and Urban Outfitters' EPS beat estimates by 32 cents. Lumen Technologies shares surged 15% after AT&T announced its plan to acquire Lumen's Mass Markets fiber internet connectivity business for $5.75 billion, expected to close in the first half of 2026.

Analysis

Several companies reported significant developments in after-hours trading, leading to notable share price movements and reflecting a generally positive market sentiment (overall score 0.7) with moderate impact (score 0.6). Zoom Communications (ZM) shares increased approximately 1% as its fiscal 2026 revenue guidance of $4.80-$4.81 billion slightly exceeded analyst expectations of $4.79 billion, complemented by better-than-expected adjusted quarterly earnings; ZM's per-ticker sentiment was 0.3. Snowflake (SNOW) experienced a more substantial surge of over 6%, driven by first-quarter adjusted earnings of 24 cents per share, surpassing LSEG estimates of 21 cents, and a second-quarter product revenue guidance that also topped Street expectations, supported by a positive ticker sentiment of 0.5. In the retail sector, Urban Outfitters (URBN) saw its shares climb over 9% following a strong quarterly report, featuring an EPS of $1.16 against an 84-cent estimate and revenue of $1.33 billion versus a $1.29 billion forecast, with a robust ticker sentiment of 0.6. The most significant movement was observed in Lumen Technologies (LUMN), whose shares surged 15% on the announcement that AT&T (T) agreed to acquire substantially all of Lumen's Mass Markets fiber internet connectivity business for $5.75 billion, a deal anticipated to close in the first half of 2026. LUMN's sentiment registered a high 0.7, while AT&T shares remained largely unchanged with a sentiment of 0.1, suggesting the market perceives the immediate impact as more transformative for Lumen. These events highlight themes of strong corporate earnings, positive forward-looking guidance, and strategic M&A activity.

Key Decisions for Investors

• Investors should evaluate Snowflake's (SNOW) valuation relative to its strong growth momentum and positive guidance, considering its enhanced market position after the recent earnings beat.
• Consider Urban Outfitters' (URBN) robust performance as an indicator of resilience in its retail segment, but monitor for sustainability of current consumer demand trends.
• For Lumen Technologies (LUMN), assess the post-divestiture strategy concerning the use of proceeds from the $5.75 billion sale to AT&T and its impact on future growth and shareholder returns.
• Investors in Zoom (ZM) should weigh its consistent profitability and slightly improved guidance against the modest market reaction, looking for clearer signs of accelerating growth or significant margin expansion.
• AT&T (T) investors should analyze the long-term strategic value and financial accretion potential of the Lumen fiber acquisition, particularly its contribution to expanding AT&T's network capabilities once the deal closes.