Shoppers walk past a Bed Bath & Beyond store in Washington, D.C.
Andrew Harrer | Bloomberg | Getty Images
Check out the companies making headlines after the bell:
Bed Bath & Beyond — The home goods retailer’s stock fell 11% in extended trading after the company released its first-quarter financial results. Bed Bath & Beyond reported a loss of $1.96 per share excluding some items on revenues of $1.31 billion while analysts polled by Refinitiv expected a loss of $1.22 per share on revenues of $1.39 billion. As the company’s stores were closed during the pandemic, the retailer’s sales fell 49% to $1.31 billion from $2.57 billion a year ago. The company also said it will close about 200 of its stores over the next two years.
NIO — Shares of the Chinese electric car maker rose 3% in extended trading. Nio’s stock hit an all-time high earlier Wednesday even though the China Passenger Car Association announced that Chinese auto sales fell 6.5% year over year in June, according to SeekingAlpha. SeekingAlpha also reported that Nio has also been a favorite among Robinhood traders this past week.
Costco Wholesale — Shares of the big-box retailer jumped 1% in extended trading after the company released sales results for June. Costco reported net sales of $16.18 billion for the retail month of June, an increase of 11.1% from $14.57 billion last year.
Norwegian Cruise Line — The cruise company’s stock whipsawed in extended trading and fell 1% after Norwegian announced in a securities filing that there is no longer “substantial doubt” about its ability to continue as a “going concern.” Norwegian previously warned of a possible bankruptcy in May 2020 but raised over $2 billion shortly after, ensuring the company could survive the next year even without revenue.
Twitter — The social media company’s stock rose about 1% in after-hours trading. Twitter shares closed 7.34% higher in regular trading Wednesday after the company posted a job listing for a subscription platform codenamed “Gryphon.” During the day, Twitter removed and then re-added the listing’s mentions of a subscription feature.