Stocks making the biggest moves after the bell: GameStop, Nvidia, ViacomCBS & more
Check out the companies making headlines after the bell on Wednesday:
GameStop – Shares of the gaming retailer surged 61%, building on their massive surge during the regular trading session as traders weighed a C-suite shuffle at the company.
Pure Storage – Pure Storage shares gained 4.9% after the data-storage company's revenue beat analyst expectations. Pure Storage's revenue for the fourth quarter came in at $502.7 million, which is ahead of a FactSet estimate of $480.2 million. The company also issued first-quarter revenue guidance of $405 million, which is above a FactSet forecast of $394.2 million.
Booking Holdings – Booking Holdings shares rose 0.3% on the back of better-than-expected results for the previous quarter. Priceline.com's parent company reported a loss of 57 cents per share on revenue of $1.24 billion. Analysts polled by Refinitiv had forecast a loss of $4.28 per share on revenue of $1.18 billion. "Looking ahead, I am more confident than ever in our long-term future and in the eventual strong recovery of travel demand," CEO Glenn Fogel said.
Teladoc Health – The telemedicine company's shares dropped 6.6% after Teladoc released mixed quarterly results. The company posted a loss per share of 27 cents on revenue of $383.3 million. That loss was 3 cents per share higher than what analysts expected, according to Refinitiv. However, Teladoc's revenue of $383.3 million beat a forecast of $378.9 million.
Nvidia – Shares of the chipmaker climbed as much as 3.4% after the company reported better-than-expected fourth-quarter results. Nvidia reported earnings per share of $3.10 on revenue of $5 billion, while analysts expected earnings per share of $2.81 on revenue of $4.82 billion, according to Refinitiv. The company also issued first-quarter revenue guidance of $5.3 billion, easily topping a FactSet forecast of $4.49 billion. The stock later gave up its gains, however, to trade 3.3% lower.
ViacomCBS – ViacomCBS shares ticked higher by 0.6% after the media giant released its fourth-quarter results. The company earned $1.04 per share, beating a Refinitiv estimate by 2 cents. ViacomCBS' revenue was roughly in line with expectations at $6.87 billion. Additionally, the company said its global streaming subscribers grew to nearly 30 million during the quarter. Domestic subscribers jumped by 71% to 19.2 million year over year.
L Brands – L Brands shares gained 4.4% on fourth-quarter earnings that beat analyst expectations. The company posted a profit of $3.03 per share, beating a Refinitiv estimate of $2.91 per share. L Brands also issued strong earnings guidance for the first quarter. L Brands' results come after The New York Times reported the company is trying to sell a majority stake in its Victoria's Secret business.