58 minutes ago
Stocks make the biggest moves after going public
Check out the companies making headlines in extended trading.
Disney — Shares fell more than 4% after the company reported mixed results for the second fiscal quarter. According to Refinitiv, earnings were in line with estimates, while sales slightly beat analysts’ estimates. While the company said its streaming segment losses had narrowed, it lost 4 million Disney+ subscribers.
Beyond Meat — Shares of the alternative meat maker rose 2% after Beyond Meat reported better-than-expected first-quarter results. Beyond Meat reported a loss of 92 cents per share on revenue of $92.2 million. Analysts had expected a loss of $1.01 per share on revenue of $90.8 million, according to Refinitiv.
The full list can be found here.
– Hakyung Kim
18 minutes ago
Robinhood announces sales increase and introduction of 24-hour trading
Robinhood’s shares rose about 1.7% in extended trading after the brokerage firm reported better-than-expected fourth-quarter revenue.
According to Refinitiv, Robinhood had revenue of $441 million in the first quarter, beating the $425 million forecast by analysts. Monthly active users increased slightly to 11.8 million since the fourth quarter. However, the net loss increased to $511 million, thanks in large part to stock-based compensation.
The retail brokerage firm also said it will allow stock trading 24 hours a day, 5 days a week starting next week. The company said it is the first US brokerage firm to do so.
Robinhood already offers so-called “extremely extended” trading hours, and CEO Vlad Tenev has previously stated that the company’s goal is to one day offer 24/7 trading.
– Jesse Pound
Before an hour
Stock futures open flat on Wednesday
US stock futures opened little changed Wednesday night.
Dow Jones Industrial Average futures fell 16 points, or 0.05%. S&P 500 futures were up 0.01%, while Nasdaq 100 futures were down 0.02%.
– Hakyung Kim