Julie Wainwright, CEO, The RealReal
Scott Mlyn | CNBC
Check out the companies making headlines after the bell on Monday:
Palo Alto Networks – Shares in the cybersecurity company fell nearly 1% after Palo Alto Networks reported better-than-expected results in its second quarter. The company reported earnings per share of $ 1.55, compared to a Refinitiv forecast of $ 1.43. Palo Alto’s revenue reached US $ 1.02 billion, above Refinitiv’s estimate of US $ 986 million. “The momentum in business remains strong, with second quarter revenue growth of 25% year over year to more than $ 1 billion,” said CEO Nikesh Arora in a statement.
Carnival – Carnival’s shares fell 2.2% after the company said it was selling $ 1 billion in common stock. Goldman Sachs will lead the public offering.
The RealReal – Shares in the luxury market company fell 7.4% due to disappointing quarterly figures. RealReal lost 49 cents per share. Analysts had expected a loss of 41 cents per share, according to Refinitiv. The company’s revenue was also below analysts’ expectations by around $ 9 million, to $ 84.6 million.
Trex Company – Trex shares fell 4.2%, even after the composite deck maker reported better than expected results in the fourth quarter. The company reported earnings of 37 cents per share, exceeding FactSet’s estimate by 1 cent. The company’s revenue was also stronger than expected by $ 228 million. “We expect growth to expand in the second and third quarters as our capacity increases and as we replenish inventory in the channel,” said the company.
Diamondback Energy – The company’s energy stock fell 2.4% after Diamondback’s quarterly earnings and revenues did not meet analysts’ expectations. Diamondback Energy earned 40 cents per share, compared to a FactSet forecast of 84 cents per share. Revenue was $ 769 million, about $ 3.3 million below expectations.
Cadence Design Systems – Cadence’s shares soared 6.3% after the software company reported better-than-expected results in the fourth quarter. The company reported earnings per share of 83 cents per share, exceeding FactSet’s estimate by 9 cents. Cadence also posted revenue of $ 760 million, exceeding a forecast of $ 732 million.
ZoomInfo Technologies – ZoomInfo’s stock rose more than 11% after the company released its latest quarterly earnings. ZoomInfo earned 12 cents per share in the previous quarter. Analysts had expected earnings of 10 cents per share, according to Refinitiv. The company also released a better-than-expected earnings guidance for the entire year. In addition, the company noted that it closed the year with more than 20,000 customers, including more than 850 customers with $ 100,000 or more in annual contract value.
Shopify – Shopify’s shares fell 2.1% with news that the company will sell 1.18 million Class A shares. Citigroup, Credit Suisse and Goldman Sachs will lead the offer.