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After Hours Market: PVH, Fulgent Genetics, Applied Genetic Gain; Rocket Cos, PagerDuty Slip

(RTTNews) – Rocket Companies, Inc. (RKT) – Shares of the parent company of mortgage lender Quicken Loans slipped over 6% on Wednesday after the bell despite swinging to a profit in the second quarter. Rocket Companies reported second-quarter net income of $3.46 billion compared to a net loss of $54 million. Adjusted net income was $2.85 billion. Rocket, which went public last month, said its total revenues surged to $5.04 billion from $937.5 million last year. Analysts polled by Thomson Reuters expected earnings of $0.88 per share and revenues of $3.75 billion.

PagerDuty, Inc. (PD) – Shares of the company tanked 23% in extended hours Wednesday after the company posted quarterly results were below Wall Street estimates. The company reported a second-quarter loss of $14.7 million or $0.19 per share, wider than last year’s loss of $12.6 million or $0.17 per share. Adjusted loss was $0.04 per share, narrower than last year’s loss of $0.07 per share. Revenues grew to $50.7 million from $40.4 million a year ago. Analysts expected loss of $0.07 per share on sales of $50.7 million. Looking forward, the company expects third-quarter adjusted losses of $0.10 to $0.11 per share on sales of $52 million to $53 million. Analysts currently expect loss of $0.09 per share on sales of $52.6 million.

PVH Corp. (PVH) – Shares of the apparel company gained over 4% on Wednesday after the bell driven by second-quarter results. The company reported second-quarter loss of $51.4 million or $0.72 per share, compared to a profit of $193.5 million or $2.58 per share last year. Adjusted earnings were $0.13 per share, down from $2.10 per share last year. The owner of the Calvin Klein and Tommy Hilfiger brands said revenue dropped to $1.58 billion from $2.36 billion last year. Wall Street analysts expected a loss of $2.44 per share on revenues of $1.25 billion.

Fulgent Genetics, Inc. (FLGT) – Shares of the genetic testing services company jumped 8% in after-hours session Wednesday. The company and New York City Health and Hospitals have announced they will provide COVID-19 testing to hundreds of thousands of students across approximately 1600 locations as they return to school in September and over the next several months. Fulgent will provide its FDA EUA-approved at-home test, Picture by Fulgent.

Applied Genetic Technologies Corp. (AGTC) – Shares of the biotechnology company gained nearly 10% on extended hours Wednesday. Applied Genetic Technologies announced that it will provide a update on its planned Phase 2/3 X-Linked Retinitis Pigmentosa clinical trial design, a re-analysis of dose Groups 2 and 4 data, and new preliminary visual sensitivity data from Group 5 on September 9.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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