Stocks Making The Biggest Moves After The Bell: Beyond Meat, Etsy, Virgin Galactic & More
An employee shows a burger with a vegetable patty from Beyond Meat at the VeggieWorld trade fair in Beijing, China, on November 8, 2019.
Jason Lee | Reuters
Check out the companies that hit the headlines on Thursday after the bell:
Beyond Meat – Beyond Meat stocks rose up to 14.7% in volatile trading after it was revealed the plant-based company closed deals with food giants McDonalds and Yum Brands. Under the agreement, Beyond Meat will supply both companies with plant-based products. However, the company also released quarterly numbers that fell short of analysts’ expectations. Beyond Meat lost 34 cents a share on sales of $ 101.9 million. According to Refinitiv, analysts expected a loss per share of 13 cents on sales of 103.2 million US dollars.
Etsy – Etsy stock rose 7.3% after the company’s latest quarterly results slightly beat analysts’ expectations. The online retailer had earnings per share of $ 1.08 on sales of $ 617 million. Analysts polled by Refinitiv expected earnings per share of 59 cents on sales of 516 million US dollars.
Salesforce – The software company’s stock was down 4.4% after releasing better-than-expected fiscal fourth quarter results. Salesforce had earnings of $ 1.04 per share on revenue of $ 5.82 billion. According to Refinitiv, analysts had forecast earnings per share of 75 cents on sales of 5.68 billion US dollars. However, the company also issued disappointing earnings forecasts for the full year.
Virgin Galactic – The space company’s shares fell 11% after Virgin Galactic announced that the next space flight test would be postponed until May. Virgin Galactic also reported a fourth quarter loss that was in line with analysts’ expectations. Earlier in the day, the company announced that CFO Jon Campagna would be stepping down, effective Monday.
DoorDash – The grocery delivery company’s shares fell 11% after DoorDash released its first quarterly results since going public. The company had sales of $ 970 million, while Refinitiv analysts estimated sales of $ 938 million. DoorDash announced to shareholders that some of the tailwinds experienced during the pandemic will subside if the locks are lifted.
Airbnb – The rental company’s shares rose 0.2% after the company released its first quarterly report since going public in December. Airbnb reported sales of $ 859 million. Wall Street analysts surveyed by Refinitiv had forecast sales of 748 million US dollars. The company also reported a loss of $ 11.24 per share. CNBC doesn’t compare reported earnings to analyst estimates for a company’s first post-IPO report.
Nikola – The electric vehicle maker’s stock was down 1.9% despite the company posting a quarterly loss that was below expectations. Nikola lost 17 cents a share after Refinitiv analysts forecast a loss of 24 cents a share.