Stocks making the biggest moves midday: The RealReal, Planet Fitness, AMC and more
09 Aug 2021
The RealReal exterior
Check out the companies making headlines after the bell on Monday.
Kansas City Southern — The railway holding company is up 6.2% amid reports that Canadian Pacific Railway is planning to make an increased offer on it of $300 per share in a cash-and-stock deal. People familiar with the situation confirmed the offer to CNBC Monday.
AMC Entertainment — AMC’s stock jumped 6.7% after releasing its earnings report Monday afternoon. It reported a loss of 71 cents per share, which was less than the 91 cents per share loss analysts expected. The movie theater chain reported revenue of $444.7 million, higher than the $382.1 million analysts had expected. “AMC’s journey through this pandemic is not finished, and we are not yet out of the woods,” CEO Adam Aron said in a statement Monday.
The RealReal — Shares of the luxury consignment brand are down 5.7% after reporting a quarterly loss, though it was still less than analysts’ estimates by 97 cents. The company had strong gross merchandise value of $350 million, up 91% year over year and said as they restart at-home appointments, units per appointment exceed pre-pandemic levels. Still, the company missed revenue forecasts.
Planet Fitness — The discount fitness stock fell 4.3% after it released quarterly earnings. Planet Fitness missed on earnings per share by 2 cents but beat on revenue, according to Refinitiv. It also announced it will expand its footprint to Mexico and plans to open 80 new shops in the next five years.
Chegg – Education tech company Chegg’ stock is 3% higher in extended trading following a strong quarterly earnings report that beat on both earnings per share and revenue. The company reported earnings of 43 cents per share, beating estimates by 6 cents.
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