Buyers pass through the Easton Town Center in Columbus, Ohio.
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Find out which companies are making headlines after the bell.
Beyond Meat – Shares of the meat substitute maker plunged 8% into extended deals after the company reported a fourth quarter net tax loss of $ 0.5 million, or 1 cent per share . However, the company reported fourth quarter revenue of $ 98.5 million, which greatly exceeded analysts’ expectations. Analysts had estimated revenues at $ 79.5 million, according to Refinitiv. Executive Chairman Seth Goldman announced on the results call that he would step down as of Thursday and assume the role of non-executive chairman.
Autodesk – The software company’s shares fell 3% in extended transactions after the company announced lower-than-expected revenue forecasts for the first quarter. The company said it expects revenue of $ 880 million to $ 895 million in the first quarter, while analysts polled by FactSet estimated $ 910.6 million. However, the company posted a double beat on profits and revenues for the fourth quarter. Autodesk reported earnings per share of 92 cents excluding certain items on $ 899.3 million in revenue, while analysts estimated earnings per share of 89 cents on $ 890.4 million in revenue, according to FactSet.
AMC Entertainment – The chain’s shares were up 11% in extended trade after the company announced a dividend cut and a common stock buyback of up to $ 200 million over the next three years. Senior executives of the company also suffer wage cuts in exchange for shares. All of the company’s senior executives have voluntarily joined the compensation program, according to a press release. AMC also reported fourth quarter revenue of $ 1.45 billion, which was in line with analysts’ expectations, according to Refinitiv.
Dell – Tech company shares fell 3% in extended trades after the company missed fourth-quarter profit estimates. Dell announced earnings of $ 2.00 per share, excluding items on revenue of $ 24.03 billion, while analysts polled by Refinitiv predicted earnings of $ 2.02 on revenue of $ 24.00 billion. The company also announced a share buyback program of up to $ 1 billion over the next 24 months.
Mylan – Pharmaceutical manufacturer’s shares fell 4% in extended deals after the company missed fourth-quarter revenue estimates and adjusted forecast for fiscal year earnings. Mylan reported earnings per share of $ 1.40, excluding items on revenue of $ 3.19 billion. Analysts polled by FactSet estimated earnings per share at $ 1.28 and revenue at $ 3.23 billion. The company revised its forecast for the year on revenues from $ 12.00 billion to $ 12.50 billion, from $ 11.50 billion to $ 12.50 billion. “For the year 2020, although we have widened the ranges to take into account certain factors, the midpoint of our forecasts is in line with what we previously released for 2020,” said CEO Heather Bresch in a statement.
Bed Bath & Beyond – The homeware retailer saw its whipsaw stock in retail trade after the company announced that it is cutting about 500 jobs, or 10% of its workforce. This is part of a larger restructuring plan to cut spending. “Today we are announcing significant changes to properly size our organization as part of our efforts to rebuild a modern and sustainable business model,” said CEO Mark Tritton in a statement.
Trade Desk – The tech company saw its shares jump 6% in extended trading after posting a double beat in profits and revenues for the fourth quarter. The company reported non-GAAP earnings of $ 1.49 per share on revenues of $ 215.9 million, while analysts expected earnings of $ 1.17 per share on revenues of $ 213.4 million. of dollars. Trade Desk also provided solid indications of revenues for the first quarter and the year. The company forecasts revenue of $ 169 million for the first quarter and “at least” $ 863 million for the year, while analysts expected $ 161.5 million for the first quarter and 860.5 million dollars for the year, according to FactSet.
VMWare – Information technology company stocks fell 6% in extended trades after the company released its fourth quarter financial results. VMWare reported earnings per share of $ 2.05 excluding certain items, while analysts had an estimated earnings of $ 2.17 per share, according to Refinitiv. However, the company beat its revenues, posting revenues of $ 3.07 billion for the quarter. Analysts polled by Refinitiv predicted revenue of $ 2.95 billion.
Axon – Stocks of the taser maker fell 4% in extended trade after the company announced that it expected considerably lower body camera sales in the future. However, the company posted a double beat on profits and revenues for the fourth quarter. Axon reported earnings per share of 41 cents excluding certain items on sales of $ 171.9 million. Analysts polled by FactSet forecast earnings per share of 38 cents on $ 146.3 million in revenue.
Eventbrite – Shares in the online event platform fell 7% after the bell. The company reported a loss of $ 13.9 million in net earnings in the fourth quarter. However, the loss was lower than expected. Analysts polled by FactSet estimated a loss of $ 20.2 million.
Live Nation Entertainment – Event promoter shares climbed 2% in extended trade after the company posted revenue growth for the fourth quarter. The company reported revenue of $ 2.89 billion while analysts polled by Refinitiv expected $ 2.80 billion.
Gardner Denver Holdings Inc – The manufacturer’s stock of industrial equipment increased 2% in extended trade after the company announced the substitution of Cimarex Energy for S&P 500.
