Stocks That Make The Biggest Moves After The Bell: Carnival, Palo Alto Networks, RealReal & More
Julie Wainwright, CEO of The RealReal
Scott Mlyn | CNBC
Check out the companies making headlines on Monday after the bell:
Palo Alto Networks – The cybersecurity company’s stocks fell nearly 1% after Palo Alto Networks reported better-than-expected results in the second quarter. The company reported earnings per share of $ 1.55, compared to a refinitive forecast of $ 1.43. Palo Alto sales were $ 1.02 billion, above a refinitive estimate of $ 986 million. “The momentum of the business continues to be strong, with revenue growing 25% year over year to over $ 1 billion,” CEO Nikesh Arora said in a statement.
Carnival – Carnival stocks were down 2.2% after the company announced it was selling $ 1 billion worth of common stock. Goldman Sachs will lead the public offering.
The luxury markets firm’s RealReal shares fell 7.4% on disappointing quarterly results. The RealReal lost 49 cents per share. According to Refinitiv, analysts expected a loss of 41 cents per share. The company’s revenue of $ 84.6 million was around $ 9 million below analyst expectations.
Trex Company – Trex shares fell 4.2% even after the composite deck maker reported better-than-expected fourth-quarter results. The company achieved earnings of 37 cents per share, beating a FactSet estimate by 1 cents. The company’s revenue was also higher than expected at $ 228 million. “We expect growth will pick up in the second and third quarters as our capacity increases and we replenish inventory in the channel,” the company said.
Diamondback Energy – The energy company’s shares fell 2.4% after Diamondback’s quarterly results and revenue fell short of analysts’ expectations. Diamondback Energy made 40 cents a share, compared to a FactSet forecast of 84 cents a share. Revenues were $ 769 million, roughly $ 3.3 million below expectations.
Cadence Design Systems – Cadence stock rose 6.3% after the software company reported better-than-expected fourth-quarter results. The company achieved earnings per share of 83 cents per share, exceeding a FactSet estimate by 9 cents. Cadence also reported sales of $ 760 million, beating a forecast of $ 732 million.
ZoomInfo Technologies – ZoomInfo stock rose more than 11% after the company released its latest quarterly results. ZoomInfo earned 12 cents per share in the previous quarter. According to Refinitiv, analysts expected a profit of 10 cents per share. The company also issued a better-than-expected earnings forecast for the full year. Additionally, the company found that it ended the year with more than 20,000 customers, including more than 850 customers with an annual order value of $ 100,000 or more.
Shopify – Shopify shares fell 2.1% on news that the company will sell 1.18 million Class A shares. Citigroup, Credit Suisse and Goldman Sachs will lead the offering.