An Uber Eats delivery person closes a bag with an order during a lockdown, imposed to prevent the spread of coronavirus disease (COVID-19), in central Kiev, Ukraine, April 2, 2020.
Valentyn Ogirenko | Reuters
Check out the companies making headlines after the bell.
Gilead Sciences – The pharmaceutical company’s share rose 13% in extended trading following a report that Covid-19 patients treated with the company’s antiviral drug Remdesivir are recovering quickly, according to initial data from a clinical trial.
Boeing – Shares of the aircraft manufacturer rose 8% in extended trading after the company said it plans to resume production of commercial aircraft at its factories in Seattle as early as April 20. Boeing also plans to implement new physical haul measures to help prevent the spread of Covid-19 as soon as it restarts production.
Uber – The ride-share company’s stock rose 6% in extensive trading after the company gave a preliminary update regarding the first quarter results. Uber said it expects its GAAP revenues to decrease by an estimated $ 17 million to $ 22 million in the first quarter and an estimated $ 60 million to $ 80 million in the second quarter due to a financial utility it has implemented for drivers and delivery workers amid the Covid19 pandemic. The company also said it will take a write-off of $ 1.9 billion to $ 2.2 billion on its investments in the first quarter. Uber withdrew the financial guidelines issued in February.
Peloton Interactive – The exercise bike company’s shares fell more than 5% in extended trading after the company’s shares peaked at 52 weeks earlier on Thursday. Peloton has recently seen more downloads of its workout app, as consumers are drawn to workouts at home amid the corona virus pandemic.
Lululemon – The athletic apparel vendor’s stock rose 2% in expanded trade after the company announced the departure of CFO Patrick Guido. Guido will leave the company on May 8 to take a leadership position outside the apparel industry. Lululemon said it is currently looking for a new CFO.
General Electric and Ford – Both the industrial conglomerate (5%) and the automaker (3%) saw their stocks increase in the extended trade after signing a federal $ 336 million contract to produce 50,000 fans to help coronavirus patients. Fan production is scheduled to begin next week at a Ford plant in Michigan.
General Motors – Shares of the carmaker rose 4% after the closing bell. The company currently has a federal contract under the Defense Production Act to produce 30,000 fans for $ 489.4 million. While GM’s contract, which it shares with Ventec Life Systems, has the fans priced at $ 16,300 each, the contract signed by GE and Ford on Thursday puts them at $ 6,720 per unit.
Intuitive Surgical – The company’s surgical equipment stock rose 5% in extensive trading after the company recorded a double beat on earnings and sales in the first quarter. Intuitive Surgical reported earnings of $ 2.69 per share excluding some items on revenues of $ 1.10 billion, while analysts expected earnings of $ 2.54 per share on revenues of $ 1.03 billion, Refinitiv said.
Facebook – Shares of the social media giant rose 2% after the market closed. Earlier on Thursday, CEO Mark Zuckerberg announced that employees will be allowed to work from home all summer and that the company will not be hosting major events until July 2021. “Most Facebook employees are lucky enough to be able to work productively from home, so we feel responsible to first give people who don’t have this flexibility access to shared public resources,” Zuckerberg wrote a post on Facebook.