Check out the companies making headlines after the bell:
Micron Technology shares rose more than 4 percent in after-hours trading following the release of its fourth-quarter earnings report, before paring its gains and falling 3 percent from the closing price. The semiconductor company reported earnings per share of $3.53, higher than analysts’ estimates of $3.34 per share. Revenue also beat expectations, with the company reporting $8.44 billion compared to the $8.25 billion analysts estimated.
The stock turned lower after the company gave weak future guidance for revenue and earnings per share compared to what analysts had estimated. Micron CFO David Zinsner also said that the company’s gross margins would be impacted in the near-term due to President Donald Trump’s latest round of tariffs on Chinese imports.
United Natural Foods stock tumbled more than 11 percent in the extended session after reporting earnings numbers for the fourth quarter that missed estimates. Earnings per share came in at 76 cents, compared to the 85 cents analysts expected. The company, which is the largest supplier to Amazon-owned Whole Foods, reported $2.59 billion in revenue versus the $2.61 billion analysts estimated.
Steelcase shares surged more than 12 percent in the extended session following the release of the furniture company’s strong second-quarter earnings report. The company reported earnings per share of 36 cents, higher than the 29 cents analysts expected. Revenue was reported as $876 million, compared to analysts’ estimates of $874 million. Steelcase also gave strong revenue guidance for the third quarter.
Texas Instruments stock rose nearly 2 percent in after-hours trading after the company increased its quarterly cash dividend by 24 percent. The dividend, now 77 cents from 62 cents, will be payable on Nov. 19. The board of directors also authorized a $12 billion stock buyback.
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