Movers: Appian, Cvent, Edgewell, Norwegian Cruise, Peloton, Trex, upstart

Barry Adams
10 May, 2022
New York City

Appian Corp soared 28% to $55.17 after the cloud computing company won an order from a Virginia jury to award $2.04 billion in damages from Pegasystems Inc for violating trade secrets.  

Pegasystems plunged 33.6% to $43.62. 

Aramark increased 0.8% to $34.51 and the food service company said March quarter sales rose 37% to $3.9 billion and swung to income of $36 million from a loss of $78 million. 

The company said consolidated revenues are now at 97% and organic revenues are at 95% of pre-Covid levels. 

Cvent Holding Corp dropped 19.6% to $4.31 after the event solution provider reported revenues increased 17.4% to $137.4 million and net loss increased to $31.4 million from $16.6 million a year ago.

The company guided second quarter revenues between $153.2 million and $154.2 million and lifted the full-year 2022 revenue range between $621.4 million and $626.9 million from the previous estimate between $619.6 million and $625.6 million. 

Edgewell Personal Care Co plunged 17.4% to $32.62 after the company said March quarter sales rose 5% to $547.7 million and diluted earnings per share increased to 43 cents from 26 cents a year ago. 

The results fell short of expectations and the company also lowered its full fiscal year 2022 earnings per share outlook to between $1.93 and $2.21 from the previous range between $2.23 and $2.51. 

Norwegian Cruise Line Holdings increased 4.8% to $16.70 after the cruise operator said operating capacity increased to 85% and occupancy was 48% primarily linked to Omicron virus related challenges. 

The cruise liner added net booking volumes and occupancy levels have increased sequentially every month and March cash flow turned slightly positive and expects the flow to be positive in the second quarter. 

Peloton Interactive Inc dropped 15.7% to $11.77 after the fitness equipment maker reported March quarter revenues declined 24% to $964 million and net loss soared nearly hundred-fold to $757 million. 

The company also said its cost reduction initiatives are set to achieve at least $165 million in the second-half of fiscal year 2022 and 450 million in fiscal year 2023. 

Trex Company Inc increased 5.7% to %58.76 after the company reported first quarter net sales increased 38% to $339 million and net income increased 47% to $71 million or 62 cents a share. 

For the second quarter, the company guided revenues between $375 million and $385 million or 22% increase at the midpoint. 

Upstart Holdings Inc plunged 61% to $29.52 after the loan transaction platform provider reported March sales soared 156% to $310 million and net income more than tripled to $32.7 million. 

The company lowered its annual outlook and said that the current economic environment is likely to negatively impact the business. 

The company guided full-year 2022 revenues of $1.25 billion from the previous estimate of $1.4 billion 

For the second quarter the company also guided revenues between $295 million and $305 million, lower than most analysts estimating above $300 million. 

Vroom Inc jumped 45% to $1.58 after the used-car seller reported total revenues rose 56% to $923 million and net loss jumped on $210 million goodwill impairment charge.  

The company sold on its online platform about 19,000 vehicles and guided full-year 2022 vehicle sales between 45,000 and 55,00 and liquidity between $450 million and $565 million.