AMC, Bumble, Oracle & extra
AMC Empire 25 near Times Square is open as New York City theaters reopen for the first time in a year after the coronavirus shutdown on March 5, 2021.
Angela Weiss | AFP | Getty Images
Check out the companies that hit the headlines on Wednesday after the bell:
Bumble – Bumble shares rose 5.2% after the dating app company released its first quarterly report since going public in February. Bumble had sales of $ 165.5 million. Analysts surveyed by Refinitiv expected sales of $ 163.3 million. CNBC doesn’t compare earnings estimates when a company reports for the first time since going public.
Oracle – Oracle stock was down 3.2% even after the company posted better-than-expected results in the third quarter of its fiscal year. The computer software company reported earnings per share of $ 1.16 on sales of $ 10.09 billion. Analysts polled by Refinitiv expected earnings per share of $ 1.11 on sales of $ 10.07 million.
Tesla – Tesla shares rose less than 1% after an analyst at Mizuho initiated the electric car maker with a buy rating and a price target of $ 775 per share. This target implies an upside of 16% from Wednesday’s close of $ 668.06. The analyst highlighted Tesla’s market leadership in the field of electric vehicles and the “cutting edge” battery technology.
MSG Networks – MSG Networks’ shares rose 4.7% after Bloomberg News reported that the company was considering a merger with MSG Entertainment. The stock of the latter decreased slightly. The two companies separated in 2015.
AMC Entertainment – The shares of the ailing cinema chain rose by more than 8% due to the higher than forecast sales of the previous quarter. AMC had sales of $ 162.5 million, beating a refinitive estimate of $ 142.3 million.
Cloudera – Cloudera stock fell more than 10% as the company’s disappointing guidance for the full year overshadowed better-than-expected quarterly results. The software company expects a profit of between 35 cents per share and 39 cents per share for the full year. This is below a FactSet median forecast of 48 cents per share. Cloudera also achieved earnings per share of 15 cents, exceeding a refinitive forecast of 11 cents per share.