Check out the companies making headlines after the bell Tuesday:
Shares of Apple whipsawed after the closing bell Tuesday, landing lower after the company reported fiscal-first-quarter earnings that beat analyst estimates but came in below expectations on revenue, iPhone sales and more. The tech giant posted quarterly earnings of $3.28 per share on $75.9 billion in revenue.
Apple suppliers like Knowles, Cirrus Logic and Skyworks Solutions saw similar volatility after the report.
AT&T shares saw downward pressure in extended trading after the company met quarterly earnings expectations but fell short on sales. The Dallas-based telecommunications company posted revenue of $42.12 billion, when analysts had expected $42.75 billion, according to a consensus estimate from Thomson Reuters.
Cloud and software company VMware posted an earnings and revenue beat that sent the stock popping after hours — only to later fall almost 5 percent. Revenue came in at $1.87 billion, versus $1.85 billion expected, and earnings per share were $1.26 adjusted, versus the $1.25 estimate. The company had seen shares prices slashed by 40 percent over the past year after it was acquired by Dell and announced staff cuts.
Capital One Financial shares were boosted modestly in extended trading after beating earnings estimates, despite reporting that its net income fell 17 percent, to $920 million, as it booked charges for restructuring and for the closure of its acquisition of GE Healthcare.
United States Steel stock plunged after the bell, dipping close to a 52-week low after reporting a fourth-quarter loss of $999 million, citing tough market conditions and lower average prices. Mario Longhi, U.S. Steel CEO told NBC News last year the company was strategizing to overcome headwinds in energy, a strong U.S. dollar and foreign “dumping.”
And United Airlines edged higher with light after-hours trading volume after two shareholders, Altimeter and PAR Investment, reported activist positions in the airlines. The hedge funds now have a combined stake of 5.5 percent in United Continental, SEC filings showed.
Shares of Molson Coors Brewing also slid after the bell. The maker of beers like Coors Light and Blue Moon announced it will underwrite a public offering of $2.35 billion of shares of its Class B Common Stock. The proceeds of the offering will be used in the merger of brewing giants Anheuser-Busch InBev SA/NV and SABMiller.
Insurance giant AIG dipped slightly as well. The company announced a series of strategic actions, including divestiture or sale of several units, an IPO of its United Guaranty business, and a return of $25 billion to shareholders over the next two years. However, it said a full breakup of the company would detract from shareholder value. Investor Carl Icahn renewed calls for the company to split up in an interview with The Wall Street Journal Tuesday afternoon.
— CNBC’s Everett Rosenfeld, Peter Schacknow and the Associated Press contributed to this report.[
“source -pcworld”]
