Stocks making the biggest moves after hours: Disney, SoFi, Airbnb & more

Check out the companies making headlines after the bell: 

Disney — Shares of Disney jumped more than 4% in after-hours trading after the media giant reported blowout fiscal third-quarter earnings, crushing Wall Street expectations on subscriber growth, revenue and earnings.

Airbnb — The travel rental company saw its shares falling more than 3% after issuing a warning about volatility due to the Covid delta variant. Airbnb did beat on top and bottom lines, however. Meanwhile, the company reported 83.1 million nights and experiences booked, up 29% from the first quarter.

SoFi Technologies — Shares of the fintech company slid more than 10% in extended trading after the firm reported a quarterly loss amid higher noninterest expense. SoFi posted a 48-cent loss per share, compared with a loss a year ago of 3 cents a share.

DoorDash — The food delivery company's shares dropped over 6% in after-hours trading after its earnings report. DoorDash posted a loss of 30 cents per share in the second quarter, wider than the 6 cents analysts were expecting, according to FactSet. Its total orders jumped 69% as the economy started to reopen, the company said.

Reddit builds war chest now valued at $10B

Wall Street remains fixated on Reddit investor Revolution

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Reddit on Thursday announced in a blog post that it is now worth more than $10 billion.

The news comes after the discussion website confirmed to FOX Business that it has already raised $410 million in Series F funding, which the company expects to reach up to $700 million, as Business Insider first reported.

REDDIT CONSIDERS IPO, HIRES CFEO

The funding round will be led by Fidelity Management and Research Company LLC. and other existing investors.

"We are optimistic and encouraged that not only are we resourced and capitalized to continue on our growth path, but also that our investors support our vision and want to deepen their stakes in our future," Reddit said in the blog post.

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In the second quarter of 2021, Reddit reached $100 million in advertising revenue for the first time – a 192% increase in ad revenue compared to the second quarter of 2020.

The company announced in February that it had raised more than $250 million in Series E funding and had a valuation of $6 billion at the time.

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How to Stretch Saffron, Without Sacrificing Flavor

Nothing compares to saffron’s unique fragrance and flavor. With this time-honored method, the world’s priciest spice can play a role in daily cooking.

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Facebook Delays Return To Office Until January 2022

Social media behemoth Facebook Inc. (FB) on Thursday announced it will push its date for U.S. employees to return to their offices until January 2022 as the Covid-19 delta variant ravages the country.

“Data, not dates, is what drives our approach for returning to the office,” the company said in a statement. “Given the recent health data showing rising Covid cases based on the delta variant, our teams in the U.S. will not be required to go back to the office until January 2022. We expect this to be the case for some countries outside of the US, as well. We continue to monitor the situation and work with experts to ensure our return to office plans prioritize everyone’s safety.”

Facebook had previously planned to reopen most of its U.S. offices at 50% capacity by early September and to reopen in full in October. The company has a workforce of about 60,000.

Facebook becomes the latest tech giant to delay its return to office plans until next year. Previously, Amazon announced a similar plan for corporate employees, while Lyft also announced that its employees won’t return to offices until February 2, 2022. Alphabet Inc.’s Google, Uber and Roblox have also delayed their return to the office.

The seven-day case average in the U.S. continues to rise, although the seven-day deaths average remains well below the all-time peak.

Texas Supreme Court halts order protecting fleeing Democratic lawmakers from arrest

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The Texas Supreme Court on Wednesday halted a Harris County judge’s order that protected Democratic lawmakers from arrest after they fled the state last month. 

Texas Democrats fled Austin in order to prevent Republicans lawmakers from forming a quorum and passing controversial voting reform legislation. 

“I’m disappointed in the decision by the Texas Supreme Court. We intend to fight this decision at the federal level,” Texas state Rep. Ron Reynolds told Fox News immediately following the court’s decision. 

Roughly 25 Texas lawmakers have remained in Washington, D.C., but Democrats who returned to Texas are now under threat of arrest if they do not willingly return to the state legislature to establish a quorum. 

“I’m not sure how long we would be detained if captured,” Reynolds said. “We have no plans to return to Austin yet to make quorum.”

Check back on this developing story.