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First Republic Bank, Whirlpool, Cleveland-Cliffs: After-hours movers

Yahoo Finance Live’s Seana Smith breaks down how First Republic Bank, Whirlpool, and Cleveland-Cliffs stocks are moving in after-hours trading.

Video Transcript

- The First Republic Bank Whirlpool and Cleveland-Cliffs now kicking off with First Republic Bank. We're looking at a loss of just about 20% in after hours trading. The regional bank reporting its earnings. And obviously, this is closely watched given everything that has happened within the regional bank sector over the last two months.

We're looking at losses in First Republic alone in the last two months of 86%. And the most recent earnings report for Q1 deposits, they're falling 40% on a quarter over quarter basis. The company also announcing that's going to be cutting 20% to 25% of its workforce as it looks to get its costs in orders here. It also withdrew all of its prior guidance. The CEO not taking any questions on the earnings call. So we're looking at the bank under pressure in extended trading off just about 19%.

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Flipping over now to Whirlpool. A bit of a different story there. Up just about 3%, the company beating up both the top and bottom line. Also its full year guidance coming in much better than what the Street was expecting. The company saying that it did deliver significant sequential margin expansion. Now, over the last two months, we're looking at a gain of just about 1% over the last year. Those shares in the red, off just about 19%.

And of course, Whirlpool the consumer connection there. So a stock, that could potentially be under pressure over the next coming quarters. Cleveland-Cliffs here. The steel producer, that stock off just about 2% in extended trading. The company reporting a net loss for Q1 sales. Also declining costs and expenses, increasing there for the steal producer there. Over the last year, looking at losses of just about 44%. So a couple of names to keep in mind ahead of tomorrow's opening bell.