Categorized | Passive Income

Stocks making the biggest moves after hours: Bed Bath & Beyond, JC Penney, United Airlines and more

Bed Bath & Beyond — The home goods retailer’s stock soared 12% in extended trading after the company posted a double beat on earnings and revenue in the fourth quarter. Bed Bath & Beyond reported earnings of 38 cents per share excluding some items on revenue of $3.11 billion, while analysts polled by Refinitiv expected earnings of 20 cents per share on revenue of $3.07 billion. The company also announced that its first-quarter and full-year 2020 results will be negatively impacted by the coronavirus and declined to provide guidance for fiscal 2020 because of uncertainty resulting from the pandemic.

J.C. Penney — Shares of the clothing retailer rose 2% after the closing bell. The company said Wednesday that it skipped a $12 million interest payment as its business struggles amid the coronavirus pandemic. J.C. Penney is entering into a 30-day grace period “in order to evaluate certain strategic alternatives, none of which have been implemented at this time,” according to an SEC filing. The company suffered from debt issues prior to closing all of its stores because of Covid-19. 

Read full article: cnbc.com

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