Check out the companies making headlines after hours.
Novavax — The biotech stock dropped 32% after Novavax cut its full-year revenue guidance due to poor demand for its Covid vaccines.
Take-Two Interactive Software — Shares dropped 6% after the video game company behind titles such as Grand Theft Auto reported weaker-than-expected earnings. Take-Two reported $1 billion in revenue, less than the $1.09 billion projected by analysts surveyed by Refinitiv.
Upstart — Shares fell 7% after the consumer lending company posted disappointing second quarter results. Upstart earned 1 cent per share on revenue of $228.2 million. Analysts surveyed by Refinitiv were estimating earnings of 10 cents per share on revenue of $241.6 million.
Allbirds — The footwear stock dropped 12% after Allbirds cut its outlook for the year and announced cost-cutting efforts, citing weaker consumer spending. The footwear and apparel company otherwise beat expectations in its second-quarter results, compared with consensus estimates from Refinitiv.
Hims & Hers Health — Shares gained more than 4% after the telehealth company reported quarterly results and raised its full year outlook, citing continued momentum in the number of net new subscriptions.