Stocks making the biggest moves after hours: Alphabet, Salesforce.com, Workday & more
Larry Page, co-founder and chief executive officer at Google Inc.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines after the bell:
Shares of Google’s parent-company Alphabet edged nearly 1% higher after the company announced that Larry Page will step down as CEO and Google CEO Sundar Pichai will take over as chief executive of the parent company. Pichai will retain his role as Google’s CEO, while Co-Founder Sergey Brin will leave his post as president of Alphabet. Alphabet, which is valued at roughly $893 billion, has seen its shares rise about 24% year to date.
Shares of Salesforce.com slipped more than 2% during extended trading after the company’s revenue outlook missed expectations for the fourth quarter and 2021 fiscal year, despite its third-quarter earnings beat.
The company said it anticipates revenue between $4.74 billion and $4.75 billion in its fourth quarter and between $20.80 billion and $20.90 billion in the 2021 fiscal year. Analysts had projected revenue of $4.72 billion and $20.93 billion, respectively. For the fourth quarter, Salesforce also said it expects earnings between 54 cents and 55 cents per share, which fell short of the consensus earnings estimate of 62 cents per share, according to Refinitiv.
In the third quarter, the cloud-based software company posted earnings of 75 cents per share on revenue of $4.51 billion, topping analysts’ estimates of a 66 cent EPS on revenue of $4.45 billion.
Workday shares jumped and then sank 3% below its closing price after the company reported a strong bottom-line earnings beat in its third quarter. The provider of finance and human resources applications earned 53 cents per share on revenue of $938 million, exceeding the earnings of 37 cents per share and revenue of $921 million analysts expected, according to Refinitiv consensus estimates.
Workday’s fourth-quarter subscription revenue outlook range also topped expectations. The company expects between $828 million and $830 million, while Wall Street had anticipated $827 million.
Zscaler shares sank nearly 6% after the cloud-based security company gave mixed second-quarter and full-year earnings guidance, despite the company’s first-quarter earnings beat. Zscaler projected earnings of 3 cents per share on revenue between $97 million and $100 million for the second quarter, while Wall Street had expected earnings of 4 cents per share and revenue of $97.4 million, according to Refinitiv. For fiscal year 2020, the company expects earnings between 13 cents and 15 cents per share and revenue between $405 million and $413 million, compared to the 15 cent EPS and $403 million in revenue analysts had forecast.
In its first quarter, Zscaler earned 3 cents per share on revenue of $93.6 million, topping the consensus estimate of 1 cent per share in earnings and $89.8 million in revenue, according to analysts polled by Refinitiv.
Shares of GoPro ticked more than 2% higher after the company announced strong sales of its HERO8 camera during Black Friday and Cyber Monday. The company reported more than 120% year-over-year growth in total camera sales in the time between the two shopping days, and said the HERO8 comprised 90% of that growth.
Mastercard shares rose more than 1% after the bell following the company’s announcement of a new quarterly cash dividend of 40 cents per share and a new share repurchase program of up to $8 billion in common stock. The company said the new share repurchase will start after its previous $6.5 billion repurchase program completes, of which there is roughly $300 million left. The credit card giant’s shares are up approximately 52% year to date.
Johnson& Johnson shares rose nearly 1% after the company reiterated that its baby powder is asbestos-free following two third-party lab tests. The company recalled a single lot of its baby powder in early October after the Food and Drug Administration found trace amounts of the carcinogenic material. Johnson & Johnson concluded that the FDA’s results were likely contaminated or caused by analyst error, the company said in a press release.