Stock Market

Stocks making the biggest moves after hours: Block, Carvana, Boeing and more

In this article

A Carvana glass tower sits illuminated on Feb. 23, 2022, in Oak Brook, Illinois.
Armando L. Sanchez | Tribune News Service | Getty Images

Check out the companies making headlines after hours.

Carvana — Shares rose 1.7%. CEO Ernie Garcia, in a statement, said that over the next six months, the company will work to complete an estimated $1 billion in annual cost reduction. The online used car retailer reported a loss of $7.61 per share, greater than the forecasted loss of $2.28 per share, according to consensus estimates from Refinitiv. Carvana generated revenue of $2.84 billion, lower than the anticipated $3.1 billion.

Block — The mobile payment stock climbed 6.5% after Block reported better-than-expected revenue in its fourth-quarter results. The company posted revenue of $4.65 billion, beating Refinitiv consensus estimates for $4.61 billion. However, Block missed estimates, posting adjusted earnings of 22 cents per share compared to expectations for 30 cents per share.

Warner Bros. Discovery — Shares fell nearly 1% in extended trading after Warner Bros. Discovery posted disappointing results in its latest quarter. The media and entertainment conglomerate reported a loss of 86 cents per share on revenue of $11.01 billion. Analysts polled by Refinitiv called for a loss of 21 cents per share on revenue of $11.36 billion.

Beyond Meat — Beyond Meat shares jumped more than 12% after the plant-based meat company reported a smaller-than-expected loss in its fourth quarter, even with sales falling more than 20%. Beyond Meat reported a loss per share of $1.05, lower than the expected $1.18, according to a survey of analysts by Refinitiv. The firm generated revenue of $79.9 million, greater than the $75.7 million expected.

Boeing — The airline stock dipped 3% after Boeing temporarily paused deliveries of its 787 Dreamliners as it does more analysis on a fuselage component, the Federal Aviation Administration said to CNBC on Thursday.

Autodesk — The software company’s shares slid 3% after Autodesk provided soft guidance on first-quarter earnings. The company beat analysts’ expectations on the top and bottom line for the fourth quarter, however, according to Refinitiv.

EOG Resources — The energy stock fell 4% after EOG Resources reported fourth-quarter per-share earnings, excluding items, that were short of analysts’ expectations, according to FactSet. The company beat on revenue, however.

MercadoLibre — Shares of the South American e-commerce company jumped 4% in extended trading. MercadoLibre posted fourth-quarter earnings of $3.25 per share on revenue of $3 billion. Analysts surveyed by FactSet were anticipating earnings of $2.42 per share and revenue of $2.96 billion.

— CNBC’s Darla Mercado contributed to this report.

Articles You May Like

Romania scraps presidential election after alleged Russian meddling
Market technicals supportive; Powell comments affirm December rate cut
Macron faced with difficult choices after French government falls
California’s ESG fund takes aim at state’s wildfire scourge
Trump swoops into Paris as Europe prepares for a more transactional relationship