Jordan Katzman, co-founder of SmileDirectClub Inc., left, and Alex Fenkell, co-founder of SmileDirectClub Inc., watch traders during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 12, 2019.
Michael Nagle | Bloomberg | Getty Images
Check out the companies making headlines after the bell:
Salesforce.com—The software company’s stock fell 2% after the closing bell following an announcement that co-CEO Keith Block is stepped down. Marc Benioff will now be the sole chairman and CEO of the company and Block will serve as an advisor to the CEO. “I am especially grateful to Keith for his service to Salesforce over the last seven years. I am delighted that he will be staying on as an advisor to me,” Benioff said in a statement. The company reported earnings and revenue for the fourth quarter that exceeded analysts’ expectations. Salesforce reported earnings of 66 cents per share excluding some items on revenue of $4.85 billion, while analysts polled by Refinitiv expected earnings of 56 cents per share and revenues of $4.75 billion. The company also announced that it is acquiring software provider Vlocity.
Disney—The entertainment giant saw its stock dip 2% in extended trading after the company announced that Bob Iger will immediately step down as CEO and assume the role of executive chairman through 2021. Bob Chapek, who was most recently the chairman of Disney parks, will take over as CEO.
Virgin Galactic—The space tourism company’s stock was down 6% in extended trading after it reported a greater-than-expected loss for the fourth quarter. Virgin Galactic reported an EBIDTA loss of $55 million, while analysts had estimated a $46.9 million loss, according to FactSet. The company said that it had 7,957 “registrations of interest” from potential customers, more than doubling its last reported figure of 3,557. Virgin Galactic also reported revenue of $529,000 for the fourth quarter, which was lower than the $800,000 it posted last quarter.
SmileDirectClub—Shares of the teledentistry company fell 20% in extended trading after the company’s fourth-quarter revenue missed analysts’ estimates. The company reported revenues of $197 million while analysts had expected $200 million, according to Refinitiv.
RealReal Inc—The online luxury consignment store’s shares were down 8% in extended trading after the company reported a loss of 17 cents per share for the fourth quarter. Analysts had expected a loss of 19 cents per share, according to Refinitiv. The company posted revenues of $97.3 million, beating the expectations of analysts polled by Refinitiv who estimated revenue at $90.8 million.
Toll Brothers—The construction company’s shares fell 8% in extended trading after the company posted first-quarter financial results that fell short of analysts’ expectations. The company reported earnings of 41 cents per share on revenue of $1.30 billion. Analysts estimated an earnings of 45 cents per share and revenue of $1.46 billion, according to Refinitiv.
WW International Inc—The weight-loss giant’s stock was up 6% during extended trading after the company posted strong financial results for the fourth quarter. The company reported earnings of 42 cents per share and $333 million in revenue, while analysts expected earnings of 38 cents per share on revenue of $331 million, according to Refinitiv.
Heico—The aerospace and electronics company’s stock whipsawed during extended trading after the company reported first-quarter financial results. Heico reported first-quarter earnings of 89 cents per share, exceeding analysts’ expectations of 77 cents per share, according to FactSet. The company reported revenue of $506.3 million, while analysts polled by FactSet estimated $508.2 million. The company also raised fiscal-year guidance for earnings growth.