Stocks making the biggest moves after hours: Zoom Video, Eastman Kodak, Tesla & more
Zoom founder Eric Yuan poses in front of the Nasdaq building as the screen shows the logo of the video-conferencing software company Zoom after the opening bell ceremony on April 18, 2019 in New York City.
Kena Betancur | Getty Images
Check out the companies making headlines after the bell:
Zoom Video — Shares of Zoom Video jumped more than 9% after reporting another blowout quarter. The video conferencing company said its revenue more than quadrupled in the fiscal second quarter compared to a year ago. Its earnings came in at 92 cents per share, easily beating analyst expectations of 45 cents per share, according to Refinitiv. The stock has soared more than 370% this year.
Eastman Kodak — Shares of Eastman Kodak popped more than 13% after hedge fund D.E Shaw disclosed a 5.2% stake in the company in a 13-G filing. The stock has been highly volatile in recent weeks after the Trump administration announced plans to award the onetime photography pioneer a $765 million loan to produce drug ingredients. The loan was later put on hold as regulators started a probe on how Kodak disclosed the government deal.
Rackspace Technology — Shares of Rackspace Technology slid more than 7% after the cloud computing company reported a quarterly loss. Rackspace said it lost 20 cents per share in the second quarter, versus an estimate of 15 cents in earnings per share, according to FactSet. Its revenue was in line with expectations.
Tesla — Shares of Tesla rose 3% in extended trading, building on momentum following its 5-for-1 stock split that took effect on Monday. Trading was heavier than normal during Monday’s session as Tesla shares exchanged hands 115.6 million times, well above its 30-day volume average of 73.3 million. The stock surged 12.5% on Monday, bringing its 2020 gains to more than 495%.
