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Moderna, Revolve, fossils, etc.



Here are the companies that made the headlines in after-hours trading.

Moderna — Biotech stocks rose 2% after Moderna stated that there were enough Covid-19 cases in its vaccine candidate trial to view the data, indicating that preliminary results may be released soon. During normal trading hours on Wednesday, the stock also rose 8%.

The Revolve Group-fashion retailer’s share price fell by more than 9% after the company reported an unexpected year-on-year decline in net sales in the third quarter. Revolve reported three-month net sales of US$1

51 million, down from US$154.2 million in the same period last year. The company stated that Covid-19 continued to affect its performance in the first few weeks of the fourth quarter.

Fossil Group-the watch maker’s share price soared by more than 30% after Fossil announced its third-quarter results, including expanded profit margins. The company said net income for the quarter was $435.5 million, adjusted earnings per share was 31 cents, and net sales were down 19% year-on-year. Fossil also said that as of October 3, it had more than $300 million in cash and cash equivalents.

Vroom-the online car retailer’s stock fell by about 10%, although Vroom reported that its third quarter loss was smaller than expected. Vroom said that the adjusted loss of 29 cents per share, analysts surveyed by FactSet expected a loss of 36 cents per share on average. The company said that consumer demand has returned to pre-pandemic levels, but its fourth-quarter loss per share is expected to be between 41 cents and 35 cents. Analysts surveyed by FactSet lowered their average expectations by 35 cents.


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