Newsmax (NMAX)
Shares in conservative media group Newsmax dropped 10.4% after hours Thursday resulting in a drop of over 75% since the company went public in March. Despite growing viewership Newsmax has faced a number of problems and is currently still engaged in a lawsuit with Dominion Voting Systems over “false claims” spread by the news source after the 2020 election. An overly ambitious IPO valuation combined with weak financial returns have continued to crater stock value.
Ulta Beauty (ULTA)
Ulta Beauty stock jumped up 8.3% in extended trading after the company beat analyst expectations for Q1. A 4.5% increase in net sales leading to $2.8b in revenue allowed Ulta to issue better-than-expected guidance for Q2. Earnings were reported at $6.70 per share.
The Gap (GAP)
Stock in apparel company The Gap nosedived 14.8% after-hours despite a solid earnings report as investors eye a potential a $300m hit to the bottom line from Trump’s tariffs. The Gap reported revenue of $3.46 billion, well over analyst expectations of $3.42, while earnings per share came in at $0.51.
