After-Hours Buzz: VeriFone, Vera Bradley, Francesca & More
Check out which companies are making headlines after the bell Wednesday:
VeriFone - The electronic payment solutions company posted earnings of 42 cents a share on sales of $430 million, missing expectations for 47 cents a share on revenue of $440 million. In addition, the company handed in current-quarter outlook that disappointed analysts, sending shares sharply lower in extended-hours trading.
(Read More: Stocks End Down 1% on Fed Fears; Dow Falls 200)
Vera Bradley - The maker of handbags and travel accessories posted earnings of 23 cents a share on sales of $123 million, edging past expectations for 21 cents a share on revenue of $121 million. However, the company handed in current-quarter and full-year outlooks that missed forecasts. In addition, the company announced its CEO Michael Ray will retire. Shares dropped sharply after being temporarily halted in extended-hours trading.
Francesca Holdings - The women's clothing and jewelry retailer posted earnings of 26 cents a share, in line with estimates, on sales of $79 million, falling short of expectations for $80 million. In addition, the company handed in current-quarter guidance that was largely in line with Wall Street forecasts. Shares tumbled in extended-hours trading.
Endo Health Solutions - The pharmaceutical company lowered its full-year guidance and said it plans to lay off nearly 15 percent of its workforce. Shares gained in extended-hours trading.
Ascena Retail - The retailer posted earnings of 26 cents a share on sales of $1.14 billion, missing expectations for 30 cents a share on revenue of $1.17 billion. In addition, the company handed in full-year guidance that missed projections. Shares tumbled in extended-hours trading.
Las Vegas Sands - The casino and resort operating company announced a $2 billion stock buyback program. Shares edged higher in extended-hours trading.
Sterne Agee initiated coverage of Costco, Dollar Tree, JCPenney, Nordstrom, Macy's, Fresh Market, Vitamin Shoppe and Wholefoods with a "buy" rating. Meanwhile, the brokerage started coverage of Dollar General, Family Dollar, Five Below, Kohl's and Saks with a "neutral" rating.
Piper Jaffray initiated coverage of Medicines Company with an "overweight" rating and a $47 price target and Cadence Pharmaceuticals with a "neutral" recommendation and a $7 price target. Shares of Medicines edged higher in extended-hours trading, while Cadence was largely unchanged.