Roblox, Palantir, Tesla, Virgin Galactic and more
Find out which companies are making the headlines in midday trading.
Palantir – Shares of the secret analytics and software company rose 7.4% after posting 49% revenue growth for its first quarter, in part thanks to economic recovery in the United States and the Kingdom – Uni Palantir, which has both government and corporate clients, reported sales of $ 341 million in the quarter and now has 149 clients.
Virgin Galactic – Space stock fell nearly 2% amid high trade volume after company provided update on progress towards a repeat of the halted space flight test mid-flight in December.
Roblox – Shares of the online gaming platform jumped 17% after reporting a loss of 46 cents per share in the first quarter on revenue of $ 387 million, a 140% year-over-year jump on the other. The company also said its average daily active users were 42.1 million in the quarter, up 79% year-over-year.
Tesla – The electric vehicle maker, the poster child for growth stocks with high valuations and expectations, fell about 1.8%. A Reuters report that Tesla halted plans to expand its Shanghai factory into an export hub, also fueled the sale.
Novavax – The drugmaker’s shares fell 12% after the company pushed back its timeline to apply for approval of the Covid-19 vaccine. The company does not plan to seek regulatory approval in the US, UK and Europe until Q3. Novavax has also pushed back its full production schedule to the fourth quarter.
Affirm – Shares of the loan company fell more than 6% after the company missed third quarter earnings estimates. Affirm posted a loss of $ 1.06 per share, higher than the expected loss of 29% per share. The company, however, exceeded revenue estimates. Affirm posted revenue of $ 230.7 million, which was ahead of the planned $ 198.2 million.
RealReal – Shares of the luxury consignment store fell 20% after RealReal announced its CFO was leaving the company. BTIG also downgraded the stock to neutral, citing âstubbornly highâ negative margins and a lack of additional catalysts. The company on Monday released first quarter results largely in line with expectations.
Hanesbrands – Apparel inventory fell more than 14% despite Hanesbrands beating expectations on better and worse results in its first quarter report. The company also announced a new strategic plan that called for growing its Champion brand from $ 2 billion in annual revenue to $ 3 billion by 2024.
– CNBC’s Pippa Stevens, Jesse Pound and Tom Franck contributed reporting.
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