Lordstown Motors, eBay, Sonos and more

EBay’s headquarters in San Jose, California, USA, on Monday, August 9th, 2021.

David Paul Morris | Bloomberg | Getty Images

Check out the companies making headlines after the Wednesday bell:

eBay – eBay stocks fell 2.4% after reporting disappointing second-quarter earnings. EBay had sales of $ 2.67 billion in the quarter, missing a refinitive forecast of $ 3 billion. Gross merchandise volume was also down 7% year-over-year to $ 22.1 billion, and the outlook for the third quarter was poor for both earnings and sales.

Sonos – The manufacturer of audio products recorded a price jump of 7%, which was 12 cents per share, according to its earnings report. Analysts surveyed by Refinitiv expected a loss of 17 cents per share. Sonos also posted strong revenues of $ 378.7 million, compared to an estimate of $ 313.6 million. CEO Patrick Spence said in a statement, “As more video content goes straight to the home, consumers are demanding a cinema-like audio experience in the home.”

Rackspace Technology – The cloud technology services firm’s shares fell more than 5% after a disappointing third quarter forecast overshadowed unexpectedly strong results from the previous quarter. The company expects third quarter sales between $ 750 million and $ 760 million. That’s below a StreetAccount estimate of $ 763.2 million. Rackspace hit the street on earnings and revenue for the second quarter, which were 24 cents per share or $ 744 million.

Lordstown Motors – The electric vehicle maker’s stock rose nearly 4.5%, despite the company posting an unexpectedly large loss in the second quarter. Lordstown reported a loss of 61 cents per share. That is more than the analysts surveyed by Refinitiv expected of 49 cents per share. Lordstown continues to plan to start production of its electric truck in September, with first deliveries beginning in the first quarter of 2022.

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