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After Market Hours: PPG Industries, RumbleON, PhaseBio Pharma Gain; Netflix, Aehr Test Systems Tank

(RTTNews) – PPG Industries, Inc. (PPG) – Shares of the paint maker jumped 5% after the bell on Thursday. PPG Industries’ adjusted profit and revenues trumped Wall Street analysts’ estimates. PPG Industries reported adjusted earnings of $235 million or $0.99 per share for the period. The company’s revenue for the quarter fell 24.9% to $3.02 billion from $4.02 billion last year. Analysts had expected the company to earn $0.71 per share on revenues of $2.78 billion, according to figures compiled by Thomson Reuters.

RumbleON, Inc. (RMBL) – Shares of the nano-cap company surged 67% in extended trading session on Thursday after the e-commerce company announced it was chosen for a pilot program with CarGurus (CARG), an online automotive marketplace. CarGurus will leverage RumbleOn’s technology as well as their transportation and distribution services in the testing of a new inventory acquisition product for dealers that enables dealers to source consumer cars on the CarGurus platform.

PhaseBio Pharmaceuticals, Inc. (PHAS) – Shares of the clinical-stage biopharmaceutical company focused on development of treatment for cardiopulmonary diseases jumped 11% in after hours trading Thursday. The company announced that it has dosed the first patient in VANGARD, a potentially pivotal Phase 2 clinical trial to evaluate PB1046 as a treatment for hospitalized COVID-19 patients who are at high risk for rapid clinical deterioration and acute respiratory distress syndrome.

Netflix Inc. (NFLX) – Shares of the online-video streaming giant tanked 10% in after hours trading Thursday. The company reported a second-quarter profit that fell short of Wall Street estimates, despite revenues increasing 25% driven by strong subscriber growth. Netflix’s second-quarter profit rose to $720 million or $1.59 per share from $271 million or $0.60 per share last year. Netflix’s revenues for the quarter rose 25% to $6.15 billion from $4.92 billion last year. Analysts polled by Thomson Reuters expected earnings of $1.81 per share and $6.08 billion.

Aehr Test Systems (AEHR) – Shares of the company tanked 20% in after-hours trading on Thursday after the company reported its fourth-quarter results. Aehr reported net sales of $3.8 million, compared to $7.2 million last year. Net loss was $2.9 million or $0.13 per share, compared to net income of $110 thousand or breakeven per share last year.

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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