After Hours Market: NetApp, FuboTV, Vapotherm, Tredegar Gain; Salesforce FuelCell Energy Slip
NetApp, Inc. (NTAP) – Shares of the company gained over 4% in extended trading session on Tuesday after its second-quarter results trumped Wall Street estimates. NetApp’s second-quarter profit dropped to $137 million or $0.61 per share from $243 million or $1.03 per share last year. Adjusted earnings were $236 million or $1.05 per share. Revenues rose 3.6% to $1.42 billion from $1.37 billion last year. Analysts polled by Thomson Reuters expected earnings of $0.73 per share on revenues of $1.31 billion.
FuboTV Inc. (FUBO) – Shares of the company jumped 10% in the extended trading hours Tuesday after FuboTV announced it agreed to buy Balto Sports, marking the company’s first move into the online sports wagering market. Terms of the deal were not disclosed.
Vapotherm, Inc. (VAPO) – The global medical technology company jumped 8% after the bell on Tuesday after it lifted its fourth-quarter and full year 2020 revenue outlook. For fourth quarter, the company now expects revenues of $30.0 million to $33.0 million, up from previous guidance of $18.0 million to $20.0 million. For the full year, the company now expects revenues of $114.8 million to $117.8 million, up from prior outlook of $102.8 million to $104.8 million. Analysts currently estimate revenues of $19.04 million and 103.91 million, for the fourth quarter and full year 2020, respectively.
Tredegar Corporation (TG) – Shares of the company jumped 32% in the after hours Tuesday. Tredegar declared a special dividend of $200 million or $5.97 per share. The special dividend is payable on December 18, 2020 to shareholders of record at the close of business on December 11, 2020.
Salesforce.com, Inc. (CRM) – Shares of the company slipped over 4% on Tuesday after the bell after the company reported third-quarter results and announced its deal to buy Slack Technologies Inc. (WORK), for an enterprise value of about $27.7 billion. Earnings and revenues for the third-quarter trumped Wall Street estimates. However, earnings guidance for the fourth quarter was below estimates.
FuelCell Energy, Inc. (FCEL) – Shares of the company slipped 15% in extended trading hours on Tuesday. The company announced the launch of a public offering of 34.5 million common shares. FuelCell Energy intends to use the proceeds to repay all outstanding amounts under its credit agreement with Orion Energy Partners Investment Agent, LLC.
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