Stocks making the biggest moves after hours: Coupa Software, Arrowhead Pharmaceuticals & more
Rob Bernshteyn, CEO, Coupa Software
Scott Mlyn | CNBC
Check out the companies making headlines after the bell
Shares of Coupa Software slipped more than 2% during extended trading after the cloud services company reported third-quarter earnings. Coupa posted earnings of 20 cents per share on revenue of $101.8 million in the third quarter. The company expects fourth-quarter earnings between 3 cents and 6 cents per share on revenue between $101.5 million and $102.5 million. For the full fiscal year, Coupa anticipates earnings between 34 cents per share and 37 cents per share and revenue ranging from $379.8 million to $380.8 million.
Shares of Arrowhead Pharmaceuticals slid nearly 4% after the company announced it plans to offer 4 million shares of its common stock. Goldman Sachs and Piper Jaffray will act as bookrunning managers for the offering, while Cantor Fitzgerald will act as a passive joint bookrunner. Robert W. Baird & Co and B. Riley FBR, meanwhile, will act as co-managers. Arrowhead will use the funds for “general corporate purposes” and possibly new acquisitions, the company said in a press release.
ADT shares climbed more than 1% following Bank of America’s downgrade of the home security company from “Buy” to “Neutral” during midday trading Monday. Analysts Gary Bisbee and Jay Hanna said they see few catalysts in the near future to send shares higher. ADT’s shares are up approximately 48% year to date.
Shares of UnitedHealth edged just shy of 1% after the bell following the company’s announcement of its 2019 and 2020 earnings forecasts. For 2019, the company anticipates adjusted earnings to reach $15 per share on revenue of roughly $242 billion. For 2020, UnitedHealth expects adjusted earnings of $16.25 per share to $16.55 per share and revenue between $260 billion and $262 billion.