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Thursday's Major After-Hours Stock Movers on Earnings and News
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With word that tariffs against Mexico may get delayed, and with weak economic numbers translating to more of “now the Fed has to cut rates” opinions in the market, the Dow managed to close up 181 points at 25,720.66 and the S&P 500 gained 17.34 points to 2,842.49. All this is ahead of Friday’s critical BLS jobs numbers.
24/7 Wall St. tracked multiple stocks on the move in Thursday’s after-hours trading session. Investors should keep in mind that none of these companies are large enough or influential enough to drive the major indexes on Friday. That said, some of the stocks were moving up or down massively after earnings.
Beyond Meat Inc. (NASDAQ: BYND) turned in earnings that pleased investors, and after closing down 3% at $99.50 its shares were trading up 18% at $117.50 late in the after-hours session on over 2 million shares trading in the after-hours session alone. The prior post-IPO high had been $102.25 and the pre-news market cap was now up to $5.7 billion. Beyond Meat has now effectively become “Beyond Logic.”
Caesars Entertainment Corp. (NASDAQ: CZR) was not an earnings play, but reports that it was in advanced merger talks to merge with Eldorado Resorts a year after Tilman Fertitta’s efforts to merge with Caesars were rejected. Caesars hit a daily high of $9.25 and closed up 1.2% at $91.13. Its after-hours trading was high at 2.1 million shares and the stock was last seen up 4.1% at $9.51.
DocuSign Inc. (NASDAQ: DOCU) closed up 2.7% at $54.74 in active volume ahead of earnings with years and years of growth expectations ahead. The stock was hammered after slower than expected billings despite beating on earnings and revenues. The CEO tried to say slower billings might be a good thing, but traders threw this hot IPO on the fire after its report. DocuSign was down 21.3% at $43.06 in the Thursday after-hours session with over 1.6 million shares trading hands after the close. Its post-IPO range has been $35.06 to $68.35.
Domo Inc. (NASDAQ: DOMO) was a serious loser despite beating revenue expectations and posting a narrower per share loss than expected. While the shares have risen over 100% over the past six months, Domo’s earnings release said that it had not reconciled guidance for non-GAAP metrics to the most directly comparable GAAP measures because items that impact those measures were not within its control and cannot be reasonably predicted. After closing down 0.4% at $31.76, with a 52-week range of $13.28 to $47.08, Domo shares were last seen trading down 19.7% at $25.50 as the second largest percentage loser in the after-hours session.
PagerDuty,Inc. (NYSE: PD) closed down two cents at $47.56 on only 237,000 shares on Thursday with a $3.5 billion market cap. After beating expectations it was last seen up almost 4% at $49.40 on about 82,000 after-hours shares. Its post-IPO high was $58.96. While PagerDuty’s revenue accelerated to 49% year-over-year growth, that is still just $37.3 million. The company showed that over 11,600 customers are now using PagerDuty to power their digital transformations and that it sported gross margins above 85%.
Vail Resorts, Inc. (NYSE: MTN) beat earnings and revenue estimates, showing that all that late-season snow may pay off. Now it just has to hope it’s not so wet and muddy that people want to go to the beach this summer instead. Shares were up 6.6% at $232.50 in the after-hours, versus a 52-week range of $179.60 to $302.76.
Zoom Video Communications Inc. (NASDAQ: ZM) managed to beat earnings as the slimmed-down video communications player beat first-quarter earnings expectations. Zoom Video closed up 1.8% at $79.43 on Thursday, and the shares were up 11.6% at $88.60 in the after-hours trading session. Its post-IPO high was $91.46, a level that will be crucial to watch on Friday (if you think technicals matter on post-IPO companies). Zoom Video had a $20.6 billion market cap at the close.
Zumiez Inc. (NASDAQ: ZUMZ) was down 6.3% at $18.67 in regular trading on Thursday, with a 52-week range of $17.57 to $32.70. After beating earnings and revenue expectations its shares were up over 15% at $21.50 on almost 100,000 after-hours shares trading hands.
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