Burgers and French fries from Shake Shack
Check out the companies making headlines after the bell:
Shake Shack — Shares of the fast-food chain fell more than 13% in extended trading after the company reported fourth-quarter revenue that missed analysts’ estimates. Shake Shack reported revenues of $151 million, while analysts expected $153 million, according to Refinitiv. The company also reported its all-time slowest revenue growth at 21.9%. Its slowest reported revenue growth was 26.5% in the third quarter of 2018. The company did beat on earnings for the fourth quarter. The company also issued weak revenue guidance for the fiscal year, projecting $712 million-$720 million, while analysts expected revenue of $737 million.
HP — The printing company’s stock jumped as much as 6% in extended trading after the company beat first-quarter earnings estimates while handling Xerox’s multiple attempts to purchase HP. The company reported earnings of 65 cents per share while analysts expected 54 cents per share, according to Refinitiv. HP reported revenue of $14.62 billion while analysts expected $14.59 billion, according to Refinitiv. The company also announced a new strategic and financial value creation plan as it faces off against Xerox. HP said Xerox’s most recent proposal “meaningfully undervalues HP, creates significant risk, and compromises HP’s future.” Shares of Xerox were up 3% after hours.
Moderna — The drugmaker’s stock was up 17% during extended trading after the Wall Street Journal reported that the company had shipped the first batch of its coronavirus vaccine to U.S. government researchers. Moderna worked with the National Institutes of Health, the National Institute of Allergy and Infectious Diseases and the Vaccine Research Center to develop the vaccine. Today, Tedros Adhanom Ghebreyesus, director-general of WHO, said at a press conference that coronavirus had the potential to become a pandemic.
Hertz Global — The car rental giant’s stock was down about 4% in after-hours trading after the company missed estimates on its revenue in the fourth quarter. Hertz posted an earnings loss of 24 cents per share on revenue of $2.33 billion for the fourth quarter while analysts expected a loss of 27 cents per share on revenue of $2.34 billion, according to Refinitiv. The company did post a record fourth-quarter rental car revenue of $1.7 billion, Hertz said in a release.
Intuit — The financial software company saw its stock jump as much as 5% in after-hours trading after Intuit reported second-quarter earnings that beat analysts’ estimates. The company reported second-quarter earnings of $1.16 per share on revenue of $1.70 billion while analysts had expected earnings of $1.02 per share on revenue of $1.68 billion, according to Refinitiv. However, the company offered weak guidance on both revenue growth and earnings for the third quarter.
Guardant Health Inc — Stock for the biotech company was down 6% in extended trading despite beating analyst expectations on both earnings and revenue for the fourth quarter. The company had a loss of $0.27 per share while analysts estimated a loss of 30 cents per share, according to FactSet. Guardant’s revenue for the fourth quarter was $62.9 million while analysts had estimated $54.9 million. The company also announced the retirement of its CFO, Derek Bertocci, who will leave the company in the second quarter of 2020.
Clovis Oncology—The pharmaceutical company saw its shares dip more than 8% in extended trading after the company reported fourth-quarter earnings that were lower than expected. The company saw a loss of $1.81 per share on revenues of $39.31 million, while analysts had predicted a loss of $1.71 per share on revenues of $39.0 million, according to Refinitiv.
Tenet Healthcare—The healthcare services company’s stock was down 5% when the market closed even though the company slightly beat both earnings and revenue estimates for the fourth quarter. The company posted an earnings of $0.99 per share on revenue of $4.81 billion vs. analysts had expected an earnings per share of $0.98 on revenue of $4.76 billion.
KeySight Technologies—The electronics manufacturer saw its stock spike as much as 5% after it beat on earnings for the first quarter. The company reported earnings of $1.26 per share while analysts expected $1.08 per share. The company posted non-GAAP revenues of $1.10 billion, which was higher than analysts’ estimate of $1.06 billion.
Mastercard — The credit card company’s shares fell about 3% in extended trading after the company warned that the coronavirus could hurt its 2020 revenue. Mastercard revised is first-quarter revenue guidance to be about two to three percentage points lower than what was previously expected. “If the impact is limited to the first quarter only, we expect that our 2020 annual year-over-year net revenue growth rate would be at the low end of the low-teens range,” the company said in a statement released after the bell. Mastercard added that cross-border travel and e-commerce growth is being negatively affected by the virus.
Palo Alto Networks — The cybersecurity firm’s stock tanked almost 14% in extended trading after the company’s revenue missed analysts’ estimates in the second quarter. The company reported revenues of $817 million while analysts expected $843 million, according to Refinitiv. However, the company did beat on earnings. Palo Alto Networks reported earnings of $1.19 per share excluding some items, while analysts polled by Refinitiv expected $1.12 per share.