After-Hours Buzz: A, WMT, VIPS & More
Check out which companies are making headlines after the bell Tuesday:
Agilent announced second-quarter non-GAAP earnings of 77 cents per share on revenue of $1.73 billion. Wall Street was expecting 67 cents per share. Third-quarter earnings guidance of 60 to 64 cents per share was also than analysts were anticipating. The measurement company also boosted its stock-repurchase program to $1 billion and said it will cut 450 jobs. Shares were lower in extended-hours trading.
Wal-Mart stock was slightly lower in late trading. The retailer said it will conduct in-depth safety inspections at all of the Bangladesh factories that produce goods for it. Wal-Mart said it will complete all reviews within six months and will publicly release the names and inspection information on all 279 factories.
Vipshop Holdings, a Chinese online-discount retailer, surged in after-hours trading following earnings. The company posted non-GAAP earnings per American depositary share of 17 cents for the first quarter of 2013, reversing a loss of 25 cents a year earlier. Revenue was $310.7 million, beating forecasts. For the second quarter, the company expects its net revenue to be between $330 million and $335 million.
Photronics, which makes photomasks for use in the manufacture of semiconductors, reported second-quarter earnings of 8 cents per share — a penny below Wall Street forecasts. Sales came in at $106.7 million.
Safeway shares were little changed after the company increased its quarterly cash dividend by 14 percent to 20 cents per share.
Eastman Chemical announced that its board appointed Mark J. Costa president effective immediately and CEO effective January 1, 2014.