Signage is seen ahead of the listing of Chewy on the New York Stock Exchange on June 14, 2019.
Andrew Kelly | Reuters
Check out the companies that are making headlines in the dinner trade.
Snowflake – Shares in the cloud computing company fell nearly 4%. The company presented its financial goals at its investor day meeting Thursday, aiming to reach $ 1
Vertex Pharmaceuticals – The pharmaceutical company’s shares fell over 10% in dinner trading after it said on Thursday that it would stop developing an experimental drug after it proved unlikely to prove effective against a rare genetic disease called AAT deficiency. Vertex said its drug raised the level of a deficient protein, but not enough to provide a significant health improvement.
Fun – The shares of the e-commerce animal company fell more than 5% despite earning an adjusted 9 cents per share. Stock in the last quarter compared to consensus forecasts for a loss of 3 cents per share. Chewy, which reported earnings late Thursday, also saw revenue beat estimates and gave an optimistic outlook for revenue. However, the company warned of labor shortages and supply chain disruptions.
Dave & Busters – Dave & Busters shares fell approx. 2% dinner after trading higher in pre-market action. On Thursday, the company reported first-quarter earnings of 40 cents per share. Stock, which surprised analysts who expected a loss of 16 cents per share. Shares. Dave & Busters also posted revenue in the first quarter, beating Wall Street analysts’ expectations.
Biogen – Shares in the biotechnology stock fell more than 3% despite the stock being upgraded to outperform market performance in Bernstein. Three members of a central advisory panel for the Food and Drug Administration have been withdrawn after the agency approved Biogen’s new Alzheimer’s drug. Biogen’s stocks are still high since the drug was approved on Monday.
Zoom Video – Shares from the video messaging company advanced approx. 4% after RBC assumed coverage of Zoom with better results while naming the stock a top choice. “The future of the work is likely to be hybrid, and we believe Zoom will be a critical component in enabling that future,” the company wrote in a note to clients. RBC has a target of $ 450 on the stock, which implies a rally of 30% from the close of Thursday.
Reddit Favorites – Shares that were popular with retail investors flocking to Reddit’s WallStreetBets forum were volatile in midday trading after massive rallies in recent weeks. Shares of AMC Entertainment traded more than 3% higher, while Clover Health Investments shares rose 5%. Meanwhile, GameStop shares fell more than 2%, ContextLogic shares fell more than 5%, and shares of Clean Energy Fuels slipped nearly 2.5%.
– CNBC’s Pippa Stevens, Yun Li, Maggie Fitzgerald, Jesse Pound and Tom Franck contributed reporting.
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