Stock Markets June 1, 2026 04:39 PM

After-Hours Movers: HPE Soars, Biotech and Chip Stocks See Big Reactions

Earnings beats, regulatory setbacks and robust guidance drive sharp moves in HPE, CRDO, FULC, ABVX and MCHP in extended trading

By Nina Shah HPE CRDO FULC ABVX MCHP

A range of companies across technology and biopharma saw pronounced after-hours stock moves following quarterly results and regulatory developments. Hewlett Packard Enterprise jumped after a strong quarter and aggressively raised guidance, Credo Technology slid despite an earnings beat, Fulcrum Therapeutics plunged after halting a sickle cell program on FDA concerns, Abivax surged on positive Phase 3 data, and Microchip highlighted rapid growth in its data center business.

After-Hours Movers: HPE Soars, Biotech and Chip Stocks See Big Reactions
HPE CRDO FULC ABVX MCHP

Key Points

  • Hewlett Packard Enterprise jumped 35% after hours following a Q2 beat (EPS $0.79, revenue $10.7 billion) and significantly raised Q3 and full-year fiscal 2026 guidance - impacts the enterprise technology sector.
  • Credo Technology fell 12% after a Q4 beat (EPS $1.16, revenue $437 million) despite providing slightly better-than-expected Q1 2027 revenue guidance of $465 million to $475 million - affects connectivity/semiconductor markets.
  • Fulcrum Therapeutics, Abivax and Microchip posted large moves tied to regulatory developments, clinical trial outcomes and strong data center revenue growth, respectively - spanning biotech and data center hardware sectors.

After the regular trading session ended, a handful of public companies recorded material share-price moves following earnings releases and regulatory news.


Hewlett Packard Enterprise (HPE)

Hewlett Packard Enterprise led the group, with shares jumping 35% in after-hours trading after gaining roughly 9% during the regular session. The move followed a sizable second-quarter beat: HPE reported earnings per share of $0.79 and revenue of $10.7 billion. Management issued markedly higher guidance for both the third quarter and full fiscal 2026, and those updates surpassed Wall Street expectations across the board, supporting the sharp after-hours rally.


Credo Technology Group Holding (CRDO)

Credo Technology Group Holding fell about 12% in extended trading despite reporting a fourth-quarter EPS of $1.16 and revenue of $437 million, both of which topped analysts' estimates. The connectivity solutions provider offered revenue guidance for the first quarter of fiscal 2027 in a range of $465 million to $475 million, a figure that narrowly exceeded consensus. Even with the beat and slight guidance upside, the stock declined after hours.


Fulcrum Therapeutics Inc. (FULC)

Fulcrum Therapeutics plunged 30% after announcing it will discontinue its pociredir program for sickle cell disease. The decision followed feedback from the U.S. Food and Drug Administration raising concerns about potential malignancy risks associated with the program. In response to the regulatory setback, the biopharmaceutical company initiated a strategic review to evaluate next steps, explicitly including the possibility of a merger or acquisition among the alternatives under consideration.


Abivax (ABVX)

Shares of Abivax climbed 20% after the company reported positive Phase 3 results for its ulcerative colitis treatment obefazimod. The trial successfully met its primary endpoint and all key secondary endpoints. Both once-daily dose levels achieved clinical remission rates above 50% at Week 44, significantly outperforming placebo in the ABTECT maintenance trial, according to the reported data.


Microchip Technology Inc. (MCHP)

Microchip Technology rose 6% after emphasizing strong momentum in its Data Center Solutions business unit. That unit posted revenue growth of 62.9% in the March 2026 quarter. Microchip said the Data Center Solutions unit generated $302.7 million in calendar year 2025 and expects roughly 65% growth to reach about $500 million in calendar year 2026, figures the company disclosed.


These after-hours moves underscore how quarterly results, guidance and regulatory feedback can trigger divergent investor reactions across sectors, from enterprise technology and semiconductors to biotechnology and specialty pharmaceuticals.

Risks

  • Regulatory risk: Fulcrum discontinued its pociredir sickle cell program following FDA feedback on potential malignancy risks, highlighting the regulatory vulnerability in biopharma clinical development - impacts biotechnology and specialty pharma.
  • Market reaction risk: Credo experienced a notable post-earnings decline despite beating estimates and providing narrowly better revenue guidance, illustrating that beats alone do not guarantee positive share-price responses - impacts connectivity and semiconductor stocks.
  • Execution and guidance risk: HPE and Microchip put forward elevated guidance and growth expectations for their respective periods and business units, creating reliance on future performance to justify sharp valuation moves - impacts enterprise technology and data center hardware sectors.

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