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Stocks moving in after hours: Chipotle, V.F. Corporation, Fortinet

Yahoo Finance Live’s Seana Smith examines several stocks trending in the after-hours trading session.

Video transcript

DAVE BRIGGS: All right, let's take a look at what is trending after-hours. Seana takes a look at the movers. What do you got?

SEANA SMITH: So we've got three stocks up here, Dave. We have Chipotle, VF Corp, and Fortinet. So let's talk about a Chipotle, shares off just about 5%, following their disappointing earnings results. You're looking at pressure there on the stock. Revenue coming in essentially in line with the Street's expectations slightly, like 2.18 billion. Same store sales, though, did miss. We're looking at growth of just about 5%. That missed the Street's expectations. Profit also missed, $8.29. Estimate out there for $8.91.


In terms of what we are seeing right now, CEO Brian Niccol mentioning in this earnings release the challenging and fluid macro environment could be a headwind here for Chipotle. Year to date, though, shares have certainly been on a tear. You're looking at gains of just about 24%.

Let's take a look at VF Corp, the retailer here. The stock popping in extended trading, up just about 3%. Now this is the owner of North Face, Vans, just to name a few of those brands. Timberland is also included in this. Revenue and profit did beat the Street's expectations. The company also outlined some cost cutting measures here going forward. They also cut their quarterly dividend to about $0.30.

In the earnings release or interim, CEO writing that the company is shifting its priorities across the firm here, exploring the sale of non-core assets, cutting costs, also eliminating non-strategic spend when we talk about companies pivoting a bit during this environment. Year to date, the shares fairly in positive territory. Over the past year, though, we're looking at significant losses, off just about 54%.

Let's take a look at Fortinet, that stock up just about 15% here after-hours. A huge mover in extended trading. Taking a look at these results, strong full year sales forecast. Fourth quarter adjusted EPS beating the Street's estimates, coming in at $0.44. The estimate out there was for $0.39. Revenue a slight miss there, 1.28 billion. The estimate was for 1.29 billion.

But the cybersecurity firm up about 10% since the start of the year. You're looking at a one-year chart here. That's actually in the red. You can see it dipping into negative territory there, off just about 12%. But again, a huge pop here after-hours with that stock up just about 16%. So certainly some names to keep in mind as we shift our focus, Dave, to tomorrow's opening bell.

DAVE BRIGGS: And tomorrow, we get Disney, which I'm very excited for. But I want to throw it back to Chipotle because we also talked to Allie Canal earlier in the show about Sweetgreen. And I can't help but wonder if we're going to see some pullback with that little bit above McDonald's, that type of $15 entree, what that looks like for the rest of 2022.

SEANA SMITH: Yeah, you would think that certainly will be a headwind and is a headwind for Chipotle at this point when you take into account the fact that consumers are pulling back on spending. They're trading down. McDonald's mentioned that in their release that they're actually one of the beneficiaries of that. Chipotle gets expensive, and it gets expensive very quickly. So I think more people are likely going to be trading down if, of course, the economy does worsen.

DAVE BRIGGS: You go for the bowl or the burrito?

SEANA SMITH: The bowl all the time. How about you?

DAVE BRIGGS: I go to the bowl. I go barbacoa.

SEANA SMITH: We agree again.

DAVE BRIGGS: Get carnitas.

SEANA SMITH: Yeah, you can't go wrong with the bowl.

DAVE BRIGGS: Love me some Chipotle. All right.