After-Hours Stock Movers:
KB Home (NYSE:KBH) declined 2% after reporting results for the fourth quarter. EPS and revenue beat consensus but guidance failed to impress investors.
Coinbase (NASDAQ:COIN) declined 3% and Marathon Digital (NASDAQ:MARA) declined 5% despite an official SEC statement saying that it has approved 11 spot bitcoin exchange-traded funds, including those of Grayscale, Bitwise and Hashdex. The approval was widely expected.
Richardson Electronics (RELL) declined 9% after it reported second quarter EPS of ($0.13), $0.14 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $44.13 million versus the consensus estimate of $52 million.
DocGo Inc. (DCGO) gained 5% after it rejected Fuzzy Panda Research, a short seller it said is motivated solely by profit. The Company’s revenue for fiscal year 2023 is expected to be between $615 million and $625 million, in line with the Company’s previously released guidance. DocGo further expects revenue in 2024 to exceed $700 million.
Leonardo DRS, Inc. (DRS) climbed 1.7% after it was awarded contracts valued at over $3 billion, when fully funded, to provide integrated electric propulsion system products for the U.S. Navy’s Columbia-class submarines.
Praxis Precision Medicines, Inc. (PRAX) declined 6.5% after reporting a proposed public offering of its common stock and, in lieu of common stock to certain investors, prefunded warrants to purchase shares of common stock.
By Louis Juricic