Check out the companies making headlines after the bell.
Stitch Fix â Shares of the clothing subscription serviceÂ plunged 36% in extended trading after the company posted mixed second-quarter earnings but issued disappointing full-year guidance. Stitch Fix reported earnings of 11 cents per share on revenue of $451.8 million, while analysts estimated earnings of 6 cents per share on revenue of $452.5 million, according to Refinitiv. The online styling service also offered guidance that missed analysts’ estimates. The company expects third-quarter revenue of $465 million to $475 million, while analysts polled by Refinitiv anticipated $506.2 million. For fiscal 2020, Stitch Fix expects revenue to range between $1.81 billion and $1.84 billion, while analysts estimated $1.92 billion, according to Refinitiv. Stitch Fix said it had active clients of 3.5 million, up 17% year over year.Â “As we continue to evolve our personalization capabilities, we’re confident in our ability to capture additional market share,” CEO Katrina Lake said inÂ a statement.
Vail Resorts â Shares of the mountain resort company dipped 12% in extended trading after the company missed analysts’ estimates on second-quarter earnings. The company reported earnings of $5.04 per share, including $1.4 million in expenses, and revenue of $924.6 million. Analysts polled by FactSet expected earnings of $5.45 per share on revenue of $951.0 million. The company also chose not to issue guidance for fiscal year 2020 and withdrew the previous guidance it issued in January because of the uncertainty surrounding the impact of the coronavirus on the U.S. travel market. “In the week endedÂ March 8, 2020, the company saw a marked negative change in performance from the prior week, with destination skier visits modestly below expectations,” Vail Resorts said in a statement. “The company expects this trend to continue and potentially worsen in upcoming weeks.”
Marathon Oil â A number of oil companies made moves after the bell, including Marathon, which climbed 10%. Occidental Petroleum climbed 7% and Apache rose over 1%. Monday’s 24% drop in oil prices marked the biggest plunge in since 1991. Prices fell as tensions increasedÂ between top oil producers Saudi Arabia and Russia. Russia declined to deepen an existing oil production cut of 1.8 million barrels a day as worldwide demand for oil has narrowed. Last Friday, disagreements between the two countries intensified after OPEC failed to strike an oil production deal with Russia. Saudi Arabia responded by offering steep price discounts amidst a production boost. Russia said it will maintain its market share and can withstand a price downturn.
Live Nation â Shares of the events promoter were up 3% in extended trading after a difficult day of trading in which the company reached a new 52-week low. Earlier today, Live Nation announced the cancellation of two Madonna concerts in Paris due to police restrictions on events with an audience attendance of over 1,000. The city’s police tweeted earlier today that it is canceling events in the city because of the coronavirus.