Stocks making the biggest moves after hours: Novavax, Tilray, Eventbrite and more

Check out the companies making headlines after the bell.

Novavax — The vaccine company’s stock skyrocketed 37% in extended trading after Novavax highlighted an outside investment of $388 million to advance the clinical development of its coronavirus vaccine candidate in its first-quarter earnings release. The company said the vaccine it’s working on “shows strong potential to have a positive impact on this global health crisis.” Novavax also reported a loss of 58 cents per share on revenue of $3.4 million, while analysts expected a loss of 70 cents per share on revenue of $1.7 million, according to Refinitv.

Tilray — The cannabis company’s stock fell 5% in extended trading after the company gave its first-quarter financial results. Tilray said it had revenue of $52.1 million, which exceeded analysts’ expectations of $50.9 million, according to Refinitv. However, the company reported a GAAP net loss of $1.73 per share and its adjusted EBITDA was a loss of $19.7 million. 

Caesars Entertainment — The casino and hospitality company’s stock climbed 1% in extended trading after the company reported first-quarter earnings. The company said it had revenue of $1.83 billion, while analysts polled by Refinitiv expected $2.04 billion. Caesars’ North American properties have all been closed since March because of the coronavirus. The company announced Monday that it will take a comprehensive approach to health and safety once its properties are able to reopen that will include requiring employees to wear a mask. 

Eldorado Resorts — Shares of the gaming and hospitality company jumped 8% in extended trading after Eldorado provided its earnings for the first quarter. The company reported revenue of $473 million, while analysts estimated $763 million, according to Refinitiv. “The strength in January and February was offset by COVID-19 related weakness due to the mandated closure of all our properties by March 18,” said CEO Tom Reeg in a statement. 

Eventbrite — The events management platform’s stock tumbled 13% in extended trading after the company announced its first-quarter earnings. Eventbrite said it had a loss of $1.71 per share on revenue of $49.1 million, missing analysts’ estimates of a loss of 24 cents per share with revenue of $71.9 million, according to Refinitiv. The company also reported an adjusted EBITDA loss of $119.6 million for the first quarter, which included $113.7 million in charges and reserve increases largely related to the impact of the Covid-19 pandemic. However, Eventbrite said ticket sales trends have shown improvement since their low-point in mid-March. The company also announced Monday that it had secured $225 million in financing from private equity firm Francisco Partners to strengthen its liquidity position while recovering from the effects of the pandemic. 

Datadog — Shares of the technology company rose 3% in extended trading after Datadog published its first-quarter financial results. The company said it had earnings of 6 cents per share excluding some items on revenue of 131.2 million, while analysts polled by Refinitiv anticipated a loss of 2 cents per share on revenue of $117.6 million. The company hit a 52-week high earlier on Monday.

BlackRock — The investment management company’s stock was down 4% in extended trading after BlackRock announced a secondary offering of common stock held by PNC. The company said PNC intends to exit its full investment in BlackRock and that BlackRock will repurchase $1.1 billion of common stock directly from PNC. PNC currently has approximately 35 million shares that amount to a 22% economic ownership interest in BlackRock.