Urban Outfitters (URBN) shares fall in after-hours trading after missing fourth-quarter earnings estimates on the bottom line.
Bumble (BMBL) stock moves lower after missing on fourth-quarter revenue and first-quarter outlook estimates.
Beyond Meat (BYND) skyrockets after topping fourth-quarter revenue expectations.
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Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
JULIE HYMAN: Let's take a look at some of the other trending tickers after-hours right now, Urban Outfitters is one of them, That stock down 6% on its fourth quarter results. The retailer missing estimates on the top and on the bottom line. There have been Outfitters Arm beat-- that is the namesake brand, beat sales expectations. Though Anthropology and Free People net sales missed overall. Despite that, CEO Richard Hayne telling investors, early spring offerings bode well for continued sales growth in the first quarter.
And Bumble shares are sinking 7% in after-hours trading. The company missing estimates for fourth quarter revenue, even though the app added more paying users than projected during the period. The online dating and networking apps outlook for revenue for the first quarter also fell below estimates. Bumble also said it's going to cut 350 roles, a move it expects will incur costs upward of $20 million. The app stock has been on a pretty steady decline, down more than 80% since its IPO in 2021.
On the flip side, Beyond Meat shares are up 91%, getting a boost after its fourth quarter revenue surprise to the upside, this even though the earnings loss was wider than analysts expected. The company's full-year revenue outlook was within analyst projections, though Beyond Meat did caution of ongoing pressure from high interest rates, inflation, and weakening demand in the plant based meat category. One thing to note, 38% of Beyond Meat's float is shorted. So when you see a move like this, chances are a short squeeze is playing a role.
