Stocks making the biggest moves after the bell: Novavax, First Solar, Rivian and more
Check out the companies making headlines in after-hours trading.
First Solar — The solar stock gained 3.6%. The company reported a fourth-quarter loss of 7 cents per share compared with a 17 cent per-share loss forecasted by analysts, according to FactSet. Revenue came in line with expectations at $1 billion. The company issued full-year guidance that was ahead of expectations on per-share earnings and revenue.
AMC Entertainment – Shares of the meme-stock darling slipped less than 1%. The company posted a wider-than-expected loss of 26 cents per share for the fourth quarter, compared to the 21 cent per-share loss forecasted by analysts polled by Refinitiv. AMC also reported fourth-quarter revenue of $991 million, while analysts anticipated $978 million in revenue.
Novavax — The biotechnology company tumbled 24% after the company raised doubts about its ability to stay in business. The company lost $2.28 per share, much larger than the $1.01 per-share loss expected by analysts polled by FactSet. Revenue also came in below expectations at $357.4 million compared with $383.1 million anticipated.
Rivian — Shares of the electric-vehicle maker slipped nearly 7% following a mixed earnings report. The company posted an adjusted loss of $1.73 per share, compared to analysts’ forecasts for a loss of $1.94 per share, according to Refinitiv. Revenue came in lower than expected at $663 million compared with analysts’ $742.4 million expectation.
Monster Beverage — The beverage maker slid 6% after reporting revenue and per-share earnings below the respective consensus estimates of analysts polled by FactSet. Earnings per share came in at 57 cents, 6 cents below the consensus estimate. Revenue for the quarter was $1.51 billion, below FactSet’s $1.6 billion. The company also announced a two-to-one stock split.
HP — Shares of the computing giant added 2%. The company posted a mixed earnings report, with HP beating the expectations of analysts polled by Refinitiv on earnings while missing on revenue. Adjusted earnings per share came in at 75 cents, one cent above the Street’s estimate. Revenue came in at $13.83 billion, which is less than the $14.12 billion expected.
— CNBC’s Darla Mercado contributed reporting