Daily Market Movers for November 5th, 2019

Daily Gainers:

Chegg, Inc. (NYSE: CHGG) reported better-than-expected third quarter financial results on Monday during extended trading hours, which sent shares higher by 16% on Tuesday morning. For the quarter, Chegg reported earnings of USD 0.18 per share on revenue of USD 94.2 Million. FactSet analysts projected earnings of USD 0.08 per share on revenue of USD 89.3 Million.

Hertz Global Holdings, Inc. (NYSE: HTZ) shares rose by 12.3% on Tuesday after reporting its quarterly financial results. The Company reported earnings of USD 1.60 per share on revenues of USD 2.84 Billion. Hertz narrowed out analysts’ earnings estimates of USD 1.48 per share and surpassed revenue estimates by 1.42%.

Arcadia Biosciences, Inc. (NASDAQ: RKDA) shares popped by 13% on Tuesday after the Company announced it has secured its first purchase commitment for its high-fiber bread wheat for 2020.

Daily Losers:

Uber Technologies, Inc. (NYSE: UBER) reported its third quarter financial results after the closing bell on Monday. The ride hailing service provider reported better-than-expected earnings and revenue, however, shares tumbled by as much as 8% on Tuesday morning. For the quarter, Uber reported earnings loss of USD 0.68 per share on revenue of USD 3.81 Billion. Refinitiv analysts expected earnings loss of USD 0.81 per share on revenue of USD 3.69 Billion. While Uber surpassed estimates, the Company reported a net loss of USD 1.16 Billion, representing an 18% increase in losses year-over-year.

Shake Shack Inc. (NYSE: SHAK) reported its third quarter financial results on Monday and reported disappointing results, which sent shares plunging by 19% on Tuesday. For the quarter, Shake Shack reported earnings of USD 0.26 per share on revenue of USD 157.8 Million. Refinitiv analysts expected earnings of USD 0.20 per share on revenue of USD 157.8 Million. While Shake Shack did top earnings estimates, analysts primarily focused on the Company’s same-store sales. At the end of the quarter, Shake Shack reported same-store sales growth of 2%, falling short of estimates of 2.5%.

Peloton Interactive, Inc. (NASDAQ: PTON) shares slipped by 6% on Tuesday after the Company reported its first earnings since its IPO launch. Peloton reported that revenue grew to USD 228 Million versus USD 112.1 Million a year ago. Peloton also reported that earnings loss per share narrowed to USD 1.29 compared to earnings loss of USD 2.18 per share a year ago.

Chesapeake Energy Corporation (NYSE: CHK) shares cratered by 14% on Tuesday after the Company reported a wider-than-expected losses. The Company reported earnings loss of USD 0.11 per share compared to analysts’ estimates of earnings loss of USD 0.09 per share.