After-Hours Buzz: GRPN, JCP, LTD & More
Check out which companies are making headlines after the bell Wednesday:
Groupon - The deal-of-the-day website posted earnings that missed estimates on revenue of $638 million, in line with expectations. In addition, the company handed in current-quarter earnings guidance that widely missed Wall Street projections. Shares plunged nearly 30 percent in extended-hours trading.
JCPenney - The mid-range department store chain posted a loss of $1.95 a share, excluding one-time items, on revenue of $3.88 billion, widely disappointing expectations for a loss of 18 cents a share on revenue of $4.09 billion. Shares fell sharply in extended-hours trading.
Limited Brands - The parent company of Victoria's Secret and Bath & Body Works posted earnings of $1.76 a share, excluding one-time items, on sales of $3.86 billion, exceeded expectations for $1.74 a share on revenue of $3.76 billion. But the company handed in current-quarter and full-year 2013 earnings guidance that missed expectations, sending shares lower in extended-hours trading.
Monster Beverages - The energy drinks maker posted earnings of 39 cents a share, missing expectations by 2 cents, while revenue was better-than-expected at $545 million versus estimates for $484 million. Shares tumbled in extended-hours trading.
BroadSoft - The voice over IP software company posted earnings of 47 cents a share, excluding one-time items, beating expectations for 41 cents a share, on revenue of $46 million matching Wall Street estimates. In addition, the company handed in current-quarter and full-year 2013 guidance that missed forecasts. Shares plunged in extended-hours trading after being briefly halted.
Nordstrom - The department store chain's board authorized a $800 million share repurchase program and increased its regular quarterly dividend to 30 cents a share from 27 cents a share. Shares gained in extended-hours trading.
Pandora - The music-streaming company said it will introduce a 40-hour limit on free mobile listening, adding that users will have to use PCs or pay to hear more.
Nabors Industries - The oil and gas company initiated a quarterly dividend of 4 cents a share.
Mead Johnson Nutrition - The infant formula maker increased its quarterly dividend by 13 percent to 34 cents a share from 30 cents a share.
MercadoLibre - The online trading and payments platform operator increased its quarterly dividend by 31 percent to 14.3 cents a share from 10.9 cents a share.
Fusion-io - Mizuho Securities initiated coverage of the computer hardware and software systems company with a "buy" rating and a price target of $22.