Investigate cross-take a look at the firms making headlines after the bell.
GameStop — Shares of the gain sport retailer surged 14% in extended trading after the firm mentioned it had seen a great affect on its industry from the coronavirus. “The COVID-19 outbreak has ended in modifications in how patrons work, play and be taught and valid via the final few weeks, ended in increased query for our products,” CEO George Sherman mentioned in a assertion. GameStop reported fourth-quarter earnings of $1.27 per piece excluding some items that exceeded analysts’ estimates of seventy nine cents per piece, in step with Refinitiv. On the alternative hand, GameStop reported income of $2.19 billion, which fellow below the expectations of analysts polled by Refinitiv who estimated $2.24 billion.
Lululemon — The athletic apparel retailer’s inventory fell 2% in extended trading after the firm declined to assemble a fiscal 2020 outlook resulting from the uncertainty prompted by the coronavirus. On the alternative hand, Lululemon did beat on analysts’ earnings estimates within the fourth quarter. The firm reported earnings of $2.28 per piece on income of $1.forty billion, whereas analysts polled by Refinitiv anticipated earnings of $2.24 per piece on income of $1.38 billion. Lululemon also mentioned that same-store gross sales surged 20% all around the fourth quarter.
KB Dwelling — The homebuilding firm’s inventory soared 7% in extended trading after the firm posted a double beat on earnings within the first quarter. KB Dwelling reported earnings of sixty three cents per piece on income of $1.08 billion, whereas analysts anticipated earnings of forty five cents per piece on income of $956 million, in step with Refinitiv.
United Airways and Southwest Airways — Both airlines’ inventory rose four% after the bell. The airline industry, which currently faces severe economic disruption from the coronavirus, has been promised help from the $2 trillion stimulus bill passed by the Senate Wednesday evening.
Gap — Shares of the clothing retailer rose 1% in extended trading after the firm announced that it was implementing precautionary actions to boost monetary flexibility in step with the coronavirus pandemic. The measures include deferring the payment dates for the firm’s beforehand announced first-quarter fiscal year 2020 dividend, suspending long-established quarterly money dividends for the remainder of fiscal year 2020 and cutting again capital expenditures by roughly $300 million in fiscal 2020. “We entered 2020 in a real monetary space. On the alternative hand, on this time of unheard of disruption to the retail sector, we are proactively taking the prudent actions to extra enhance our monetary liquidity and suppleness,” mentioned President and CEO Sonia Syngal in a assertion.