Eric Yuan, CEO of Zoom, speaks ahead of the Nasdaq opening ceremony on April 18, 2019 in New York.
I have Betancur | Getty Images
Check out the companies that hit the headlines on Monday after the bell:
Zoom Video – Zoom shares fell 1.3% after the Wall Street Journal reported that founder Eric Yuan transferred approximately 40% of his stake in the company to two unspecified recipients. The share amounts to around 6 billion US dollars.
Stitch Fix – The styling service’s shares fell 20.8% after it was revealed the company cut its fiscal year revenue guidance. The company now expects sales growth of between 18% and 20% for the 2021 financial year. This is a decrease from an earlier forecast from 20% to 25% growth. The company also had mixed results for the second quarter. Stitch Fix posted a loss per share of 20 cents on sales of $ 504 million. Analysts polled by Refinitiv expected losses per share of 22 cents on sales of $ 512 million.
Invitation – The molecular diagnostics company’s stock rose 4.7% after Ark Investment Management founder Cathie Wood said she remained bullish on the stock. Wood added that the company is “likely one of the most important companies in the genomic revolution.”
Del Taco – The restaurant chain’s shares rose 2.2% after the company reported better-than-expected fourth-quarter results. Del Taco had earnings per share of 20 cents on sales of $ 156.7 million. Analysts polled by FactSet expected earnings per share of 14 cents on sales of $ 156.1 million.
MoneyGram International – The money transfer company’s shares fell 6.8% after it was revealed the company was ending its partnership with payment and cryptocurrency company Ripple. In a statement, Ripple said, “We still believe in the promise of digital assets and blockchain technology to change the status quo in global payments.”