A Men’s Wearhouse retail store on October 9, 2013 in San Francisco, California.
Check out the companies making headlines after the bell.
Stitch Fix — The online personalized styling service’s stock fell 6% in extended trading after the company released its third-quarter financial results. Stitch Fix said it had a loss of 33 cents per share on revenue of $372 million, while analysts expected a loss of 16 cents per share with revenue of $407 million, according to Refinitiv. The company also reported 3.4 million active clients, a 9% increase compared to last year.
Coupa Software — Shares of the technology company tumbled 4% in extended trading after Coupa Software announced its first-quarter financial results. The company reported earnings of 20 cents per share excluding some items on revenue of $119.2 million, while analysts anticipated earnings of 7 cents per share with revenue of $111.5 million, according to Refinitiv. Coupa offered strong guidance on earnings and revenue for both the second quarter and the fiscal year.
Scotts Miracle-Gro — The lawn products company’s stock rose 5% in extended trading after Scotts Miracle-Gro revised its fiscal 2020 guidance. The company increased sales and earnings guidance based on higher product demand. Scotts Miracle-Gro now expects sales growth in the range of 16% to 18% for the fiscal year after giving guidance in May that anticipated an increase of 6% to 8%. It also estimates adjusted non-GAAP earnings to be in the range of $5.65 to $5.85 per share compared to previous guidance of $4.95 to $5.15 per share. “An unprecedented number of consumers planting and maintaining gardens has led to a nearly 40 percent increase in consumer purchases of Miracle-Gro branded soils and more than 30 percent increase in plant food,” said Jim Hagedorn, chairman and CEO, in a company statement.
Tailored Brands — The owner of clothing retailers Men’s Wearhouse and Jos. A. Bank saw its stock drop 6% after the closing bell. Tailored Brands is considering filing for bankruptcy, according to a report from Bloomberg. The company said it does not comment on market rumors or speculation in a statement to CNBC.
Carnival and Norwegian Cruise Line — Both cruise lines saw their stock rise 6% after the market closed. The companies’ stock experienced big boosts earlier on Monday as the economy’s reopening progress gave investors optimism that cruise bookings will recover from the serious blow from the coronavirus pandemic.
Macy’s — The troubled retailer’s stock soared 13% in extended trading after the company announced that it had secured $4.5 billion in new financing. Macy’s said it expects to have enough liquidity to survive the coronavirus pandemic and address its business needs, including funding operations and purchasing new inventory, according to a company statement.
Chesapeake Energy — Chesapeake fell 18% in extended trading after a Bloomberg report that the company is preparing to file for bankruptcy and give its lenders control. The company declined to comment.
Casey’s General Stores — The convenience store chain’s stock fell 4% in extended trading after Casey’s released its fourth-quarter earnings. The company reported earnings of $1.67 per share on revenues of $1.81 billion, while FactSet analysts had expected earnings of $1.83 per share on revenues of $1.76 billion. Casey’s is not providing guidance for the 2022 fiscal year amid the continued uncertainty of the Covid-19 pandemic, but CEO Darren Rebelez said he remains confident in the company’s “financial strength.”
Published at Mon, 08 Jun 2020 22:59:07 +0000-Stocks making the biggest moves after hours: Chesapeake, Macy’s, Tailored Brands and more