Stocks making the biggest moves after hours: Intel, Disney, Skechers and more

Stock Market

Check out the companies making headlines after the bell

Intel — Intel’s stock dropped 8% in extended trading after the company offered disappointing third-quarter guidance. Intel released its second quarter earnings, beating predictions of analysts surveyed by Refinitiv. The company reported second-quarter earnings of $1.23 per share excluding some items on revenues of $19.73 billion compared to estimates of earnings per share of $1.11 on revenues of $18.55 billion. After Intel said the company’s 7nm-based CPU product timing is delayed, shares of Advanced Micro Devices climbed 7% in after hours.

Mattel — Shares of the toy company jumped 5% after the market closed as Mattel released its second-quarter financial results. The company reported a second-quarter loss of 26 cents per share excluding some items on revenues of $732 million, while analysts polled by Refinitiv expected a loss of 34 cents per share on revenues of $679 million. Mattel’s second-quarter net sales of $732 million declined 15% compared to the prior year.

Skechers — Shares of Skechers surged 9% after the closing bell. The company released second-quarter financial results that beat estimates by Wall Street analysts polled by Refinitiv. The shoe company posted a loss of 44 cents per share on revenues of $730 million. Analysts had expected a loss per share of 66 cents on revenues of $660 million. The company’s owned e-commerce sales grew 428.2%.

Moderna — Moderna’s stock dropped 2% in extended trading after falling 9.49% earlier in the day. The drop comes after the U.S. Patent and Trademark Office ruled Moderna does not have a claim to a patent held by a rival company. The patent concerns technology focused on delivering messenger RNA treatments and is held by Canadian firm Arbutus, according to Stat News. The ruling could potentially delay Moderna’s race to produce a coronavirus vaccine. Shares of BioNTech jumped 2% while Novavax‘s stock fell 1% in after hours.

Ascena Retail Group — Shares of Ascena soared 26% in extended trading after falling more than 25% during the day. Earlier, the retail company parent of Ann Taylor filed for Chapter 11 bankruptcy protection and said it plans to close a “significant” number of Justice stores and some Ann Taylor, Loft, Lane Bryant and Lou & Grey stores while it restructures.

Disney — Disney’s stock fell 1% after the closing bell. The company announced Thursday afternoon that its movie “Mulan” is delayed indefinitely and all Star Wars films and Avatar sequels have been pushed back a year due to theater closures and production shutdowns spurred by the coronavirus pandemic.

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