Many of the seats on board a United Airlines flight are empty on May 11, 2020 on the flight from San Francisco to Houston, Texas.
Justin Sullivan | Getty Images
Check out the companies making headlines on Wednesday after work:
United Airlines – United Airlines shares fell more than 1% after the company reported a loss above expectations for the third quarter. The airline lost $ 8.16 per share, while analysts had forecast a loss of $ 7.53 per share, according to Refinitiv. United’s third-quarter revenue also fell short of analysts’ expectations. “Although the negative effects of COVID-19 will continue in the near future, we are now focused on positioning the airline for a strong recovery,” CEO Scott Kirby said in a statement.
Alcoa – Alcoa stock was down 4.2% despite the aluminum company performing better than expected in the third quarter. Alcoa posted a loss of $ 1.17 per share on revenue of $ 2.37 billion. Analysts polled by FactSet expected a loss of $ 1.38 per share on revenue of $ 2.26 billion. However, the company anticipates “flat sequential quarterly results in the bauxite segment” for the fourth quarter.
Sleep number – The Sleep Number share gained more than 8% in after-hours trading due to quarterly results that were above forecasts. The bedding maker reported earnings per share of $ 1.79 on sales of $ 531.2 million. Analysts had expected earnings of $ 1.06 per share on sales of $ 523.5 million. Like-for-like sales rose more than 11% due to strong growth in online and phone sales. The company also issued a stronger-than-expected forecast for the full year.
Fast – 28% fell quickly after the cloud company reported disappointing preliminary results. The company expects third quarter sales between $ 70 million and $ 71 million. Fastly had previously forecast sales between $ 73.5 million and $ 75.5 million. “The current global environment has fueled our business in some ways, but it has also created areas of uncertainty,” said Joshua Bixby, Fastly CEO, in a statement.