These are some of the stocks making moves ATB on April 12, 2023:
Harley-Davidson (HOG) fell in extended trading after the company announced a C-suite shakeup. Gina Goetter will step down as CFO at the end of April to pursue an opportunities outside the company. Vice President-Treasurer David Vine will become interim CFO as the company conducts a formal search.
Harley-Davidson has been undergoing restructuring initiatives since 2020. Jochen Zeitz stepped into the CEO role. In September of 2022, the company spun off its electric bike unit, LiveWire (LVWR) via a SPAC merger.
Harley-Davidson’s stock is down about 10% year-to-date. The company will report earnings on April 27.
Rent the Runway (RENT) shares are down in post market after issuing annual revenue guidance which missed Wall Street expectations. The clothing rental service saw revenue of of $320 million to $330 million, versus a consensus analyst estimate of $344.9 million.
Rent the Runway's fourth quarter loss of 40 cents per share came in narrower than the 62 cents expected by analysts. Active subscribers for the quarter rose 10% year-over-year to 126,712, just shy of Wall Street estimates of 127,375.
The company announced SVP Sid Thacker will take over the chief financial officer position. The current CFO Scarlett O’Sullivan will transition out of her role effective May 25.
In the company’s earnings release, O’Sullivan said, “We believe we are set up for strong Adjusted Ebitda and significantly lower cash consumption in fiscal 2023, on our path to achieve free cash flow breakeven.”
Rent the Runway went public in 2021. The service was initially impacted by stay-at-home lockdowns as some subscribers opted to cancel or pause their subscriptions during the pandemic.
Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre
Read the latest financial and business news from Yahoo Finance
