After-Hours Buzz: LCC, BA, YHOO & More
Check out which companies are making headlines after the bell Wednesday:
Boeing - Boeing is working on a series of battery design changes to minimize fire risks on its grounded 787 passenger jet, according to the Wall Street Journal. Boeing shares edged lower in extended-hours trading.
The FAA grounded U.S.-registered Dreamliners in mid-January following a fire in the lithium-ion battery on a Japan Airlines aircraft in Boston and a burning battery on an All Nippon Airways 787. (Read More: 787 Grounding Puts Cities in Costly Holding Pattern)
U.S. Airways - American Airlines parent AMR and U.S. Airways may be nearing a merger agreement in the next few weeks, according to the Wall Street Journal, citing sources close to the discussions. If the deal is finalized, the new company would become the largest airline, with a market cap of more than $10 billion. U.S. Airways shares were largely unchanged in extended-hours trading.
Yahoo - The Internet company signed a non-exclusive agreement with rival search-engine giant Google to display advertisements on various Yahoo properties, according to the company's blog. Yahoo shares gained in extended-hours trading.
(Read More: Stocks Erase Losses to Close Flat; Techs Lag)
NewsCorp - The media company posted earnings of 44 cents a share, excluding one-time items, on sales of $9.43 billion, topping expectations for 43 cents a share on revenue of $9.28 billion. Shares were largely unchanged in extended-hours trading.
Visa - The credit-card provider posted earnings of $1.82 a share on sales of $2.85 billion, exceeding expectations for $1.79 a share on revenue of $2.82 billion. Shares edged higher in extended-hours trading.
Akamai - The tech company posted earnings of 54 cents a share, excluding one-time items, topping expectations by 4 cents a share. But the firm posted sales of $378 million, widely missing estimates for $381 million. In addition, the company slashed its 2013 operating income growth outlook and handed in current quarter revenue estimates that were below Wall Street consensus. Shares plunged in extended-hours trading.
Green Mountain Coffee Roasters - The specialty coffee company posted earnings of 76 cents a share on revenue of $1.34 billion, topping expectations for 65 cents a share on revenue of $1.33 billion. However, the company said it expects revenue growth of 14 to 18 percent for the current quarter, missing expectations for 20 percent. Shares fell sharply in extended-hours trading.
Yelp - The consumer-review website posted a loss of 8 cents a share on revenue of $41 million. Analysts expected the company to post a loss of 5 cents a share on revenue of $40 million. Shares tumbled in extended-hours trading.
Allstate - The insurance company posted earnings of 59 cents a share on revenue of $6.64 billion, blowing past estimates for a loss of 5 cents a share on sales of $6.55 billion. The company's board also authorized an additional $1 billion share repurchase program and boosted the firm's dividend to 25 cents a share from 22 cents a share. Shares gained in extended-hours trading.
Prudential Financial - The financial services company posted earnings of $1.69 a share, excluding one-time items, missing expectations by a nickel, on revenue of $46.14 billion. Shares slid in extended-hours trading.
Tesoro - The oil and gas company posted earnings of $1.34 a share, excluding one-time items, missing Wall Street estimates by three cents a share, on revenue of $8.27 billion, blowing past expectations for $6.95 billion. In addition, the company increased its quarterly dividend by 33 cents a share to 20 cents a share from 15 cents a share. Still, shares declined in extended-hours trading.
Exide Technologies - The tech company posted a loss of 20 cents a share on revenue of $805 million, widely missing estimates for 4 cents a share on revenue of $770 million. Shares were temporarily halted in extended-hours trading.