Eric Yuan, Zoom’s CEO, speaks ahead of the Nasdaq opening bell ceremony in New York on April 18, 2019.
Kena Betancur | Getty Images
Check out the companies making headlines after the bell on Monday:
Zoom Video – Zoom’s shares fell 1.3% after The Wall Street Journal reported that founder Eric Yuan transferred about 40% of his stake in the company to two unspecified recipients. Participation is valued at about $ 6 billion.
Stitch Fix – The styling service’s shares plunged 20.8% with the news that the company has reduced its revenue forecast for the fiscal year. The company now expects revenue for fiscal year 2021 to grow between 18% and 20%. This fell from a previous growth target of 20% to 25%. The company also released mixed fiscal results in the second quarter. Stitch Fix recorded losses per share of 20 cents and revenue of $ 504 million. Analysts polled by Refinitiv had expected losses per share of 22 cents on the dollar and revenue of $ 512 million.
Invitae – The shares of the molecular diagnostics company rose 4.7% after Cathie Wood, founder of Ark Investment Management, said she remains optimistic about the shares. Wood added that the company is “probably 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 results in the fourth quarter. Del Taco reported earnings per share of 20 cents on revenue of $ 156.7 million. Analysts surveyed by FactSet had expected earnings per share of 14 cents on revenue of $ 156.1 million.
MoneyGram International – Shares in the money transfer company fell 6.8% with news that the company is ending its partnership with payments 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.”