Men wearing face masks walk past a Gap store at a shopping area, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020.
Jason Lee | Reuters
Check out the companies making headlines after the bell.
Slack — The messaging software maker saw its stock tumble 20% in extended trading after the company offered weak guidance for the first quarter. Slack said its first-quarter revenue will likely range from $185 million to $188 million, while analysts polled by Refinitiv estimated $188.4 million. The company also posted a loss of 4 cents per share excluding some items for the fourth quarter. Analysts surveyed by Refinitiv had expected a loss of 5 cents per share. Slack reported revenue of $181.9 million, while analysts expected $174.1 million, according to Refinitiv.
Gap — Shares of the clothing retailer rose more than 5% in extended trading after the company reported fourth-quarter earnings that exceeded analysts’ expectations. Gap reported earnings of 58 cents per share adjusted on revenue of $4.67 billion, while analysts polled by Refinitiv expected earnings of 41 cents per share on revenue of $4.55 billion. The company also made a leadership change, naming Old Navy CFO Katrina O’Connell as the new CFO of Gap. The company said that it is facing uncertainty regarding the coronavirus’ impact on its supply chain and consumer demand, and chose to suspend share repurchases in fiscal 2020. “We are focusing on decisive actions that will ensure we emerge well-positioned to compete in the years ahead, and I am impressed by how diligently the teams have navigated the events of the past weeks,” said Sonia Syngal, who takes over the CEO post on March 23, in a statement.
Oracle — The tech company’s stock jumped 4% in extended trading after Oracle posted a double beat on earnings and revenue in the third quarter. Oracle reported earnings of 97 cents per share on earnings of $9.796 billion, while analysts expected earnings of 96 cents per share on revenue of $9.754 billion, according to Refinitiv. “We had an extremely strong quarter with total revenues growing 3% in constant currency,” said Oracle CEO Safra Catz in a statement.
Adobe — The software giant’s stock whipsawed in extended trading after the company said in a statement that it expected the coronavirus to impact multiple areas of its business, including software license revenue. However, the company posted first-quarter earnings that beat analysts’ estimates. Adobe reported earnings of $2.27 per share excluding some items on revenue of $3.091 billion. Analysts expected earnings of $2.23 per share on revenue of $3.045 billion, according to Refinitiv.
Broadcom — The semiconductor company’s stock dropped 10% in extended trading after Broadcom missed analysts’ estimates on first-quarter financial results. The company reported earnings of $5.25 per share excluding some items on revenue of $5.86 billion, while analysts expected earnings of $5.33 per share on revenue of $5.99 billion, according to Refinitiv. Broadcom said in a statement that it is withdrawing prior guidance for fiscal year 2020 because of uncertainty from the coronavirus.
Disney — The entertainment giant’s stock fell 2% in extended trading after the company’s parks division announced that Disneyland Park and Disney California Adventure would close from March 14 through the end of the month because of the coronavirus. Disneyland Resort’s hotels will remain open until March 16 to allow guests to make necessary travel changes. The company’s statement said that no cases of COVID-19 have been reported at Disneyland Resort.
DocuSign — The electronic agreement manager’s stock was up 4% in extended trading after the company’s financial results beat analysts’ estimates in the fourth quarter. DocuSign reported earnings of 12 cents per share on revenue of $274.9 million. Analysts anticipated earnings of 5 cents per share on revenue of $266.5 million, according to FactSet. The company also gave strong guidance on fiscal year revenue. The company expects revenue of $1.272 billion to $1.276 billion, while analysts polled by FactSet expected $1.22 billion.