Earnings season may have peaked, but there are still many companies reporting earnings that are making big moves up or down in their stocks. The S&P 500 has now risen for 5 straight days and the index closing price of 3,349.16 is now up on the year and is barely lower than March’s all-time high of 3,393.52.
The real test of a company over time is its earnings power, and investors are rewarding growth and solid businesses during this recession. This earnings season is delivering some big winners and some big losers. 24/7 Wall St. has tracked multiple after-hours winners and losers from earnings and other news for Thursday, August 6, 2020.
All references to consensus data comes from Refinitiv and there have been some color and news summaries added on each company along with some selective links to more detailed coverage. As a reminder, after-hours trading is far less liquid than regular trading, and some of the moves can prove to be very wrong in scope and/or direction by the time investors get to react and see analyst reports the following day.
Other stocks were also on the move, but these were the top after-hours stocks on the move for Thursday.
Adamas Pharmaceuticals, Inc. (NASDAQ: ADMS) was down 15 at $2.61 ahead of earnings, but revenue rose 48% and beat expectations while its loss of $0.37 per share was down from a loss of $0.90 per share last year. Adamas Pharmaceuticals also noted that its sales and royalty revenues of $18.8 million were up 48% from a year ago. Adamas Pharma was last seen up 25% at $3.26 in the after-hours trading., versus a 52-week range of $1.90 to $7.78.
Alteryx, Inc. (NYSE: AYX) reported that earnings were only 2-cents per share on an adjusted basis, with a loss $35.3 million, and revenues of $96.2 million. Refinitiv had its consensus at -$0.14 EPS and $94.1 million in revenues. The company sees its adjusted EPS of $0.09 to $0.14 for Q3 (versus $0.13 EPS estimate)on revenues of $111 million to $115 million (versus $119.3 million expected). The analytic process automation company noted that its annual recurring revenue is over $430 million, but after falling 5.4% to $169.00 ahead of the earnings its stock was trading down 18% at $137.50 after the report on more than 300,000 after-hours shares.
Ameren Corporation (NYSE: AEE) is not your normal after-hours big mover and there may have been other news or trade reporting, but the stock was down handily after the close. Ameren said that it posted $0.98 EPS and sees FY/2020 in a range of $3.40 to $3.60 EPS. Consensus estimates were $0.87 EPS for Q2 and $3.45 EPS for 2020. Ameren’s after-hours volume of 10,000 shares so the 13.3% drop to $70.25 may be an error trade unless there was other data within the release.
Conduent Inc. (NASDAQ: CNDT) reported that revenue and adjusted EBITDA both came in well-above expectations and that its total contract value of signings was up 90% to $623 million. The annual recurring revenue of signings rose 25% to $105 million and that it was strengthening client retention rates. Conduent was up 68% at $3.80 in Thursday’s after-hours trading after closing up just 1% at $2.26 ahead of the report. Conduent has a $1.54 to $8.76 range over the last year.
Datadog, Inc. (NASDAQ: DDOG) reported earnings that beat expectations, but it also announced an acquisition, and with such strong performance the street deemed it “mostly priced in” after having risen from under $40 at the start of the year to $90.01 as of Thursday’s close (even after a 4.5% drop). Datadog shares whimpered with a 14% initial loss down to $77.95 after the report in very active post-earnings trading. Big insider selling had also been seen previously.
Everbridge, Inc. (NASDAQ: EVBG) closed down 3% at $145.83, but the stock was trading down almost 9% at $133.00 in the after-hours session. Everbridge’s -$0.56 EPS and $65.4 million in revenues compared to consensus estimates of -$0.21 and $63 million, and the guidance was a lower loss but revenues of $264 million to $266 million was more or less in-line with the $262 million consensus.
First Solar, Inc. (NASDAQ: FSLR) reported earnings of $0.35 per share on $642 million in revenues, beating the $0.23 EPS and $493 million consensus estimates. First Solar also signed an agreement to sell its North American O&M business to NovaSource. First Solar closed down almost 2% at $64.46 and the shares were flirting with up 4% and then back closer to its closing price for a while. The company is not offering very detailed guidance, although it has said it has so far not been greatly impacted by the coronavirus. The after-hours move in First Solar was only up 1.6% at $65.50 as of 6:00 pm Eastern Time.
Groupon, Inc. (NASDAQ: GRPN) saw its shares surge on news that second quarter results were -$73 million in earnings from operations (or -$0.93 EPS) on revenue of $396 million. Refinitiv’s consensus was -$2.75 EPS and just $2005, million in revenues. Groupon also ended the second quarter with $785 million in cash. The company also noted that it has made meaningful progress toward stabilizing its business with the goal of returning to growth. Its shares were down 0.5% at $16.45 ahead of earnings,, but the after-hours trading was up 38% at $22.76 after the report.
Illumina, Inc. (NASDAQ: ILMN) reported second quarter results with revenue down 25% at $633 million and with non-GAAP net income falling to $0.62 EPS from $1.35 EPS, noting that COVID-19 hurt its results. Illumina closed down about 0.3% at $399.33 ahead of earnings but was down 10% at $357.75 in Thursday’s after-hours trading session.
Stamps.com Inc. (NASDAQ: STMP) saw its shares surge in after-hours trading after the internet mailing and shipping outfit posted strong second-quarter revenues and net income of $51.7 million (or $2.73 per share). That is up from income of $0.79 a year ago. Stamps.com was last seen up 20% at $314.99 after closing down 7.6% at $262.34 on Thursday.
TrueCar, Inc. (NASDAQ: TRUE) saw its shares trade almost up 5% to $4.29, but the shares were up 29% at $5.54 in active trading after issuing a press release along with earnings that it had agreed to sell its ALG subsidiary to J.D. Power for $135 million. TrueCar’s market cap was just $460 million at the close. The company saw nearly a 29% drop in revenues to $62.7 million, but that was better than the $55.6 million consensus estimate.
Vaxart, Inc. (NASDAQ: VXRT) saw its shares close down 5.9% at $9.10 on Thursday, but the stock was up 13% at $10.29 in the after-hours session. Vaxart said that it ended its had $140 million in cash at the end of July and that it is now “laser focused on preparing to enter a Phase 1 clinical trial” with its lead COVID-19 vaccine candidate that is expected to be an oral tablet. The company also noted that it has a potential for better protection than injectable vaccines due to the activation of mucosal immunity, and this is now one of the most promising candidates for successful mass vaccine campaigns in the U.S. and abroad. Vaxart is not a new COVID-19 vaccine play, but the company did note that it is currently producing bulk cGMP vaccine in time to being a Phase 1 clinical study during the second half of 2020. Vaxart also scored a big analyst upgrade with a much higher target price this summer. Its 52-week trading range is $0.25 to $17.49.
Zillow Group, Inc. (NASDAQ: ZG) was up 1.3% at $71.57 ahead of earnings, but the quarter was better than it had expected and its quarterly revenue grew 28% to $768 million mostly from a continued increase in Zillow Offers resale volume. Zillow said that its Homes segment delivered $454 million in revenue, its Zillow Offers showed that the company sold 1,437 homes and purchased 86 homes. The stock was up 10% at $78.90 in active trading. The Zillow Group, Inc. (NASDAQ: Z), the other Zillow shares, were last seen up 12% at $80.00 in more active trading.
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