Market Insider

Stocks making the biggest moves after hours: Moderna, Revolve, Fossil & more

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Moderna says company has enough cases to provide analysis on its Covid-19 vaccine trial

Here's a look at the companies making headlines in after-hours trading.

Moderna — The biotech stock rose 2% after Moderna said that it has had enough cases of Covid-19 in its vaccine candidate trial to take a look at the data, signaling that preliminary results could be released soon. The stock also rose more than 8% during normal trading hours Wednesday.

Revolve Group — Shares of the fashion retailer fell more than 9% after the company reported a surprise year-over-year decline in net sales for the third quarter. Revolve reported $151 million in net sales for the three-month period, below the $154.2 million from the same quarter last year. The company said Covid-19 has continued to hurt performance during the early weeks of the fourth quarter.

Fossil Group — Shares of the watchmaker spiked more than 30% after Fossil announced its third-quarter results that included widening margins. The company said it earned an adjusted 31 cents per share on $435.5 million of net sales during the quarter, which was a decline in net sales of 19% year over year. Fossil also said it had more than $300 million in cash and cash equivalents as of Oct. 3.

Vroom — The online auto retailer's stock fell about 10% despite Vroom reporting a smaller-than-expected loss for its third quarter. Vroom said it lost an adjusted 29 cents per share, compared with an expected loss of 36 cents per share from analysts surveyed by FactSet. The company said that consumer demand has returned to pre-pandemic levels, but its fourth-quarter guidance for loss per share was between 41 cents and 35 cents. Analysts surveyed by FactSet had penciled in 35 cents.