Here’s a look at the companies that are making the headlines in OTC trading.
Moderna – Biotech stock rose 2% after Moderna reported enough cases of Covid-19 in its candidate vaccine study to look at the data, suggesting preliminary results may be released soon. The stock also rose more than 8% during normal Wednesday trading hours.
Revolve Group – The fashion retailer’s shares fell more than 9% after the company posted a surprising year-over-year revenue decline in the third quarter. Revolve had net sales of $ 151 million for the three-month period, down from $ 154.2 million in the year-ago quarter. The company said Covid-19 continued to affect performance in the first few weeks of the fourth quarter.
Fossil Group – The watchmaker’s shares rose more than 30% after Fossil announced its third quarter results, which included widening margins. The company said it made an adjusted 31 cents per share on net sales of $ 435.5 million for the quarter, a 19% decrease in net sales year over year. Fossil also said it had more than $ 300 million in cash as of October 3.
Vroom – The online car dealer’s stock fell about 10%, despite Vroom posting a less-than-expected loss in the third quarter. Vroom said it lost an adjusted 29 cents per share, compared to an expected loss of 36 cents per share for the analysts surveyed by FactSet. The company said consumer demand has returned to pre-pandemic levels, but its forecast for fourth-quarter loss per share was between 41 and 35 cents. Analysts surveyed by FactSet had deposited 35 cents.