Zoom CEO Eric Yuan speaks before the Nasdaq opening ceremony in New York on April 18, 2019.
Got Betancur | Getty Images
Check out the companies making headlines after the bell on Monday:
Zoom Video – Zoom share fell 1.3% after The Wall Street Journal reported that founder Eric Yuan transferred about 40% of his stake in the company to two unspecified recipients. The stake is estimated to be approximately $ 6 billion.
Stitch Fix – Shares of the styling service fell 20.8% on 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 is a decrease from a previous expectation of 20% to 25% growth. The company also posted mixed fiscal results for the second quarter. Stitch Fix recorded losses per share of 20 cents on sales of $ 504 million. Analysts polled by Refinitiv expected a loss per share of 22 cents on revenue of $ 512 million.
Invitae – Shares of the molecular diagnostics company 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 genomics revolution.”
Del Taco – Shares of the restaurant chain rose 2.2% after the company reported better-than-expected results for the fourth quarter. Del Taco posted earnings per share of 20 cents on sales of $ 156.7 million. Analysts polled by FactSet expected earnings per share of 14 cents on revenue of $ 156.1 million.
MoneyGram International – Shares of the money transfer company fell 6.8% on news that the company is ending its partnership with payment 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.”