Urban Outfitters (URBN) shares fall in after-hours trading after missing fourth-quarter earnings estimates on the bottom line. Bumble (BMBL) stock moves lower after missing on fourth-quarter revenue and first-quarter outlook estimates. Beyond Meat (BYND) skyrockets after topping fourth-quarter revenue expectations. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Shares of Beyond Meat skyrocketed in after-hours trading on Tuesday after the company promised to cut costs and transition to a “leaner operating structure” in its fourth-quarter financial report.
Beyond Meat shares soared Tuesday as investors cheered better-than-expected fourth quarter revenue and a new, healthier burger that could help revive U.S. sales. Beyond Meat President and CEO Ethan Brown said the company used to rely on 13 outside manufacturing locations in North America; now it uses just one. Beyond Meat said its U.S. sales fell 23.5% during the quarter.