After-Hours Stock Movers:
Flutter Entertainment (FLUT) fell 4% after is said it experienced a period of very unfavorable U.S. sports results that impacted revenue for the 2024. However, management said they remains confident in the growth drivers and long-term growth trajectory. Shares of rival DraftKings (NASDAQ:DKNG) also traded lower in sympathy, falling 1.5%.
Cal-Maine Foods (NASDAQ:CALM) rose 5% after it reported second quarter revenue and guidance that beat estimates. Robust demand for shell eggs resulted in a significant increase in dozens sold for the quarter.
Sana Biotechnology (SANA) shares surged after it announced initial results from an investigator-sponsored, first-in-human study transplanting UP421, an allogeneic primary islet cell therapy engineered with Sana’s hypoimmune (HIP) technology, into a patient with type 1 diabetes without the use of any immunosuppression.
Kimbell Royalty Partners LP (NYSE:KRP) fell 5% after it announced an underwritten public offering of 9,000,000 common units representing limited partner interests. It also announced an agreement to acquire mineral and royalty interests held by a private seller in a cash and unit transaction valued at approximately $231 million.
Avita Medical Limited (NASDAQ:RCEL) declined 10% after it lowered guidance for the fourth quarter. AVITA Medical now expects commercial revenue to be approximately $18.4 million, reflecting growth of around 30% over the same period in 2023. Previously provided fourth-quarter guidance was in the range of $22.3 million to $24.3 million.