After-Hours Buzz: N, TPH & More
Check out which companies are making headlines after the bell Thursday:
TRI Pointe Homes — The first home builder to hold an initial public offering in a decade shined in its market debut on Thursday, surging 12 percent. TRI Pointe extended its rally in after hours trading, with investors betting the company will benefit from continuing rock bottom borrowing costs and a budding recovery in the real estate market. (Click here for an after hours quote)
Morgan Stanley — The investment banking giant's filed a statement after the bell saying it had approved a compensation package that nearly doubled CEO James Gorman's 2012 base pay. The news comes at a time when executive pay and tighter Wall Street regulation remain hot button topics. The stock was little changed in after hours trading. (Click here for an after hours quote)
Time Warner — The cable company beat market expectations with its fourth quarter earnings but fell short of estimates with its 2013 forecasts. That, in addition to modest Internet subscribers, sent its shares down by as much as 10 percent intraday before it staged a recovery. In after hours trading, the cable giant's stock posted modest losses, trading just above $50 per share. (Click here for an after hours quote)
Friday's earnings cavalcade will include quarterly reports from oil giants Exxon and Chevron, as well as drug maker Merck. The shelf life of those reports may be brief, as the session will also see the release of December's U.S. jobs report. Analysts expect the data to set the tone for trading that has been hit this week by weaker than expected data.