Stocks making the biggest moves after the bell: Zoom Video, Stitch Fix, Invitae & more
Check out the companies making headlines after the bell on Monday:
Zoom Video – Zoom stock fell 1.3% after The Wall Street Journal reported that founder Eric Yuan transferred roughly 40% of his stake in the company to two unspecified recipients. The stake is valued at about $6 billion.
Stitch Fix – Shares of the styling service plunged 20.8% on the news that the company lowered its revenue forecast for the fiscal year. The company now expects revenue for fiscal year 2021 to grow between 18% and 20%. That's down from a previous guidance of 20% to 25% growth. The company also posted mixed fiscal second-quarter results. Stitch Fix logged losses per share of 20 cents on revenue of $504 million. Analysts polled by Refinitiv expected losses per share of 22 cents on revenue of $512 million.
Invitae – The molecular diagnostic company's stock climbed 4.7% after Ark Investment Management founder Cathie Wood said she remains bullish on the stock. Wood added that the company is "probably one of the most important companies in the genomic revolution."
Del Taco – Shares of the restaurant chain gained 2.2% after the company reported better-than-expected results for the fourth quarter. Del Taco posted earnings per share of 20 cents on revenue of $156.7 million. Analysts surveyed by FactSet expected earnings per share of 14 cents on revenue of $156.1 million.
MoneyGram International – The money transfer company's shares fell 6.8% on the news that the company is ending its partnership with payments and cryptocurrency company Ripple. In a statement, Ripple said: "We still believe in the promise of digital assets and blockchain technology to change the status quo in global payments."