Stocks making the biggest moves after hours: Beyond Meat, Autodesk, AMC and more

Check out the companies making headlines after the bell.

Beyond Meat — The meat substitute maker’s stock plunged 8% in extended trading after the company reported a fiscal fourth-quarter net loss of $0.5 million, or 1 cent per share. However, the company reported fourth-quarter revenue of $98.5 million that greatly exceeded analysts’ expectations. Analysts had estimated revenue at $79.5 million, according to Refinitiv. Executive Chairman Seth Goldman announced on the earnings call that he would be stepping down from his position, effective Thursday, and assuming the role of non-executive chairman.

Autodesk — Shares of the software company dipped 3% in extended trading after the company announced weaker-than-expected guidance on revenue for the first quarter. The company said it expects first-quarter revenue of $880 million to $895 million, while analysts polled by FactSet estimated $910.6 million. However, the company did post a double beat on earnings and revenue for the fourth quarter. Autodesk reported earnings of 92 cents per share excluding some items on $899.3 million in revenues, while analysts estimated earnings of 89 cents per share on $890.4 million in revenues, according to FactSet.

AMC Entertainment — The movie theater chain’s stock shot up 11% in extended trading after the company announced a dividend cut and a common stock repurchase of up to $200 million over the next three years. The company’s senior officers are also taking pay cuts in exchange for shares. All relevant senior officers of the company voluntarily signed on to the compensation program, according to a statement. AMC also reported fourth-quarter revenue of $1.45 billion that was in line with analysts’ expectations, according to Refinitiv.

Dell — The tech company’s stock dipped 3% in extended trading after the company missed earnings estimates for the fourth quarter. Dell reported earnings of $2.00 per share excluding some items on revenue of $24.03 billion while analysts polled by Refinitiv expected 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 — The pharmaceutical maker’s stock dropped 4% in extended trading after the company missed estimates on revenue for the fourth quarter and adjusted guidance on fiscal-year revenue. Mylan reported earnings of $1.40 per share excluding some items on revenue of $3.19 billion. Analysts polled by FactSet estimated earnings of $1.28 per share and revenue of $3.23 billion. The company revised its fiscal-year guidance on revenue from $12.00 billion to 12.50 billion, to $11.50 billion to $12.50 billion. “Looking ahead to the full year of 2020, although we widened the ranges to take into consideration certain factors, the mid-point of our guidance is in line with what we previously disclosed for 2020,” CEO Heather Bresch said in a statement.

Bed Bath & Beyond — The home goods retailer saw its stock whipsaw in extended trading after the company announced that it is cutting around 500 jobs, or 10% of its corporate workforce. The measure comes as part of a larger restructuring plan in an attempt to trim expenses. “We are announcing extensive changes today to right-size our organization as part of our efforts to reconstruct a modern, durable business model,” CEO Mark Tritton said in a statement.

Trade Desk — The technology company saw its stock jump 6% in extended trading after it posted a double beat on earnings and revenue for the fourth quarter. The company reported non-GAAP earnings of $1.49 per share on revenue of $215.9 million, while analysts expected earnings of $1.17 per share on revenue of $213.4 million. Trade Desk also offered strong guidance on revenue for both the first quarter and fiscal year. The company expects revenue of $169 million for the first quarter and “at least” $863 million for the fiscal year, while analysts expected $161.5 million for the first quarter and $860.5 million for the fiscal year, according to FactSet.

VMWare — Shares of the information technology company dropped 6% in extended trading after the company posted fourth-quarter financial results. VMWare reported earnings of $2.05 per share excluding some items, while analysts had estimated earnings of $2.17 per share, according to Refinitiv. However, the company did beat on revenue, reporting revenue of $3.07 billion for the quarter. Analysts polled by Refinitiv expected revenue of $2.95 billion.

Axon — The taser maker’s stock dipped 4% in extended trading after the company announced that it expects a significantly lower run-rate of body camera unit sales going forward. However, the company did post a double beat on earnings and revenue for the fourth quarter. Axon reported earnings of 41 cents per share excluding some items on $171.9 million in revenue. Analysts polled by FactSet expected earnings of 38 cents per share on $146.3 million in revenue.

Eventbrite — Shares of the online event platform sank 7% after the bell. The company reported a $13.9 million loss for net income in the fourth quarter. However, the loss was narrower than expected. Analysts polled by FactSet estimated a $20.2 million loss.

Live Nation Entertainment — The events promoter’s stock climbed 2% in extended trading after the company posted a beat on revenue 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 industrial equipment manufacturer’s stock was up 2% in extended trading after it was announced that the company would replace Cimarex Energy in the S&P 500.

Source: https://www.cnbc.com/2020/02/27/stocks-making-the-biggest-moves-after-hours-beyond-meat-autodesk-amc-and-more.html

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