After Hours Summary: PINS +14.2% on WSJ report that activist Elliott Mgmt has built large stake; CDXS -21.3% and TXG -12.8% fall on weak guidance; RRGB +2.5% gets a new CEOAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: None
Companies trading higher in after hours in reaction to news: PINS +14.2% (activist Elliott Mgmt has built a 9+% stake, according to WSJ), ZY +7% (expands agreement with Octant to further scale their platform), RCM +3.4% (to become exclusive provider of enterprise revenue cycle mgmt services for Sutter Health), RRGB +2.5% (names new CEO), DASH +1.8% (ABNB exec joins board), MGM +1.5% (GIGNY attracting takeover interest, MGM mentioned, according to Bloomberg), SPCE +0.8% (signs long-term lease for new manufacturing facility), R +0.6% (increases dividend), ILMN +0.4% (enters into settlement and license agreement with BGI Genomics), APA +0.1% (names new chairman)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: CDXS -21.3% (guides Q2 and FY22 revs below consensus; also signs deal with PFE to supply enzyme used in PAXLOVID), TXG -12.8% (guides Q2 revs below consensus), BTU -1% (guides Q2 revs below consensus), AOUT -0.7%
Companies trading lower in after hours in reaction to news: AUPH -4.1% (names new exec in R&D and new CCO), OMGA -2.1% (receives FDA clearance of its IND application to initiate a Phase 1/2 study of OTX-2002), CLOV -1.2% (to offer Medicare Advantage plans in 13 new counties), ABC -0.6% (awarded $6.065 bln contract from Defense Logistics Agency), GD -0.2% (awarded $908 mln US Air Force contract; also awarded $273 mln US Navy contract)