The moves will be seen at Alibaba Group headquarters at the 11.11 Singles’ Day Worldwide Shopping Festival in Hangzhou, Zhejiang Province, China, November 11, 2020.
Aly Song | Reuters
Here are the stocks that are making headlines in the afternoon trading.
Ulta Beauty – Shares of the cosmetics company fell more than 6% after reporting full-year sales and revenue guidance below Wall Street estimates. The company said sales of the same stores are between 15% and 17% for the year, while analysts expect 20.3%, according to Refinitiv.
Vail Resorts – The share in the ski resort rose by almost 3.8% after Vail’s earnings for the fiscal second quarter exceeded expectations. According to FactSet, the company earned $ 3.62 per share compared to the $ 2.31 expected by analysts. The company also said results will continue to improve in February, which will be included in the next quarterly report.
Aegion Corp. The oil and gas pipeline company Aegion has increased its shares by more than 12%. This is the subject of a bid contest between New Mountain Capital and Apollo Global, two private equity firms. According to a Bloomberg report, according to A Bloomberg, Apollo offered a bid of between $ 26 and $ 30 per share, which set the agreement that Aegion signed with New Mountain last month at $ 26 per share.
Netflix – Shares of the streaming service declined 1.8% after Netflix announced it would test a password suppression share. Competitive streaming services have also announced subscriber leadership for the coming years, putting pressure on Netflix to fend off competition. Research firm Magid estimates that about one-third of Netflix users share their passwords.
Alibaba – Shares of the e-commerce giant fell 3.8% after The Wall Street Journal reported that Alibaba could face a record fine from China’s antitrust regulators. According to people with knowledge of the case, the fine could exceed the $ 975 million fine paid by Qualcomm in 2015.
DocuSign – Software company shares fell about 6%, despite a fourth-quarter earnings report beating expectations on the top and bottom line. DocuSign reported 37 cents in adjusted earnings per share at $ 430.9 million in revenue. Analysts surveyed by Refinitiv earned 22 cents a share and $ 407.6 million in revenue. JMP Securities praised the quarter in a note to clients, but pointed out that growth in accounts slowed quarter-on-quarter.
Novavax – Novavax share gained nearly 6% in afternoon trading after the company said the Covid-19 vaccine was 96% effective in preventing cases caused by the original version of the coronavirus, bringing the drugmaker closer moved the approval of the regulation. The vaccine was also about 86% effective in protecting against the more contagious virus variant first discovered in the UK and now common.
Poshmark – Shares of the online retailer of second-hand goods fell by about 20% after a forecast for the current quarter was issued that was not estimated by analysis estimates. However, the company reported revenue that exceeded analysts’ estimates.
– CNBC’s Maggie Fitzgerald, Pippa Stevens, Jesse Pound and Richard Mendez reported.