Snowflake, Palo Alto Network, Penn National Gaming & more
Check out the companies making headlines after the bell:
Snowflake — Selling in the biggest software IPO continued in extended trading with shares of Snowflake down more than 1%. The cloud company dropped more than 26% in regular-hours trading after soaring 111% in its market debut Wednesday.
Penn National Gaming — Shares of Penn National Gaming rose another 1%, extending the 7% jump during Thursday’s regular trading session. The sports betting company got a boost after Stifel hiked its price target to $85 per share from $47 per share, saying its “Portnoy Momentum Trade” still has room to run. The firm referred to Barstool Sports, a sports media company led by Dave Portnoy, in which Penn National made a significant investment earlier this year.
Dave & Buster’s Entertainment — Shares of the restaurant and arcade chain rebounded from steep losses in after-hours trading, up more than 2%. Earlier, the stock dropped 26% after Wall Street Journal reported the company warned of bankruptcy if an agreement can’t be reached with lenders.
Palo Alto Network — Shares of Palo Alto Network gained slightly after the cybersecurity firm announced it has completed its acquisition of The Crypsis Group. Palo Alto Networks paid approximately $265 million in cash, excluding purchase price adjustments, to acquire the security advisory firm.
Eastman Kodak — Shares of Eastman Kodak climbed more than 3% after jumping more than 25% in regular trading hours. The photography pioneer’s stock has soared more than 67% this week alone after an independent review cleared the company executive of insider trading allegations. However, House lawmakers on Thursday raised doubts about the internal review surrounding Kodak’s disclosure about a planned $765 million federal loan.