Stocks making the biggest moves after hours: Novavax, Upstart, Allbirds and more

FAN Editor

A woman holds a small bottle labeled with a “Coronavirus COVID-19 Vaccine” sticker and a medical syringe in front of displayed Novavax logo in this illustration taken, October 30, 2020.

Dado Ruvic | Reuters

Check out the companies making headlines after hours.

Novavax — The biotech stock dropped 32% after Novavax cut its full-year revenue guidance due to poor demand for its Covid vaccines.

Take-Two Interactive Software — Shares dropped 6% after the video game company behind titles such as Grand Theft Auto reported weaker-than-expected earnings. Take-Two reported $1 billion in revenue, less than the $1.09 billion projected by analysts surveyed by Refinitiv.

Upstart — Shares fell 7% after the consumer lending company posted disappointing second quarter results. Upstart earned 1 cent per share on revenue of $228.2 million. Analysts surveyed by Refinitiv were estimating earnings of 10 cents per share on revenue of $241.6 million.

Allbirds — The footwear stock dropped 12% after Allbirds cut its outlook for the year and announced cost-cutting efforts, citing weaker consumer spending. The footwear and apparel company otherwise beat expectations in its second-quarter results, compared with consensus estimates from Refinitiv.

Hims & Hers Health — Shares gained more than 4% after the telehealth company reported quarterly results and raised its full year outlook, citing continued momentum in the number of net new subscriptions.

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Novavax halves revenue forecast on low COVID vaccine demand; shares plunge

(Reuters) -Novavax Inc on Monday cut its full-year revenue forecast by half, as the vaccine maker battles low demand for its COVID-19 shot, sending its shares down 32% in extended trading. Novavax said it now expects 2022 total revenue in the range of $2 billion to $2.3 billion, compared with […]

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