Stocks making the biggest moves after the bell: AMC, Bumble, Oracle & more
The AMC Empire 25 near Times Square is open as New York City’s cinemas reopen for the first time in a year following the coronavirus shutdown, on March 5, 2021.
Angela Weiss | AFP | Getty Images
Check out the companies making headlines after the bell on Wednesday:
Bumble – Bumble shares jumped 5.2% after the dating app company released its first quarterly report since going public in February. Bumble posted a revenue of $ 165.5 million. Analysts polled by Refinitiv expected revenue of $ 163.3 million. CNBC does not compare earnings estimates when a company reports for the first time since going public.
Oracle – Oracle shares slid 3.2% even after the company posted better-than-expected results for its fiscal third quarter. The computer software company reported earnings per share of $ 1.16 on revenue of $ 10.09 billion. Analysts surveyed by Refinitiv expected earnings per share of $ 1.11 on revenue of $ 10.07 million.
Tesla – Tesla shares climbed less than 1% after an analyst at Mizuho initiated the electric car maker with a buy rating and a price target of $ 775 per share. That target implies an upside of 16% from Wednesday’s close of $ 668.06. The analyst highlighted Tesla’s market leadership in the EV space as well as its “cutting-edge” battery technology.
MSG Networks – Shares of MSG Networks popped 4.7% after Bloomberg News reported the company was considering a merger with MSG Entertainment. The latter’s stock dipped marginally. The two companies split in 2015.
AMC Entertainment – Shares of the struggling movie-theater chain jumped more than 8% on the back of stronger-than-forecast revenue for the previous quarter. AMC posted a revenue of $ 162.5 million, topping a Refinitive estimate of $ 142.3 million.
Cloudera – Cloudera shares tumbled more than 10% as the company’s disappointing full-year guidance overshadowed better-than-expected quarterly results. The software company expects full-year earnings to range between 35 cents per share and 39 cents per share. That’s below a FactSet median forecast of 48 cents per share. Cloudera also posted earnings per share of 15 cents, topping a Refinitiv forecast of 11 cents per share.