After-hours buzz: Zynga, Cree, Brocade & more
Check out which companies are making headlines after the bell Tuesday:
Zynga - The social videogame maker's chief operating officer, chief people officer and chief technology officer are expected to leave the company in the latest management shakeup, according to a report from tech website AllThingsD. Shares edged higher in extended-hours trading.
Apple - The iPhone maker continued to edge higher in extended-hours trading after billionaire investor Carl Icahn revealed a large stake in the company, which he believes to be undervalued. Shares soared nearly 5 percent in the regular session.
Cree - The semiconductor materials manufacturers posted earnings of 38 cents a share, excluding one-time items, matching expectations, while revenue was slightly lighter than estimates at $375 million versus estimates of $377 million. In addition, the company handed in current-quarter guidance that were slightly missed projections. Shares tumbled sharply in extended-hours trading.
Brocade - The data and storage networking products company reported earnings of 19 cents a share, excluding one-time items, on revenue of $537 million, exceeding Wall Street expectations for 12 cents a share on sales of $519 million. Shares surged in extended-hours trading.
SeaWorld Entertainment - The theme park operator posted earnings of 41 cents a share, excluding one-time items, on revenue of $411 million, missing expectations for 51 cents a share on sales of $434 million. In addition, the company lowered its full-year revenue guidance, pushing shares lower in extended-hours trading.
JDS Uniphase - The communications equipment company posted earnings of 13 cents a share, excluding one-time items, in line with Wall Street forecasts, while revenue was slightly lighter than expectations at $421 million, versus estimates for $431 million. The company also turned in current-quarter revenue guidance that fell short of projections, sending shares lower in extended-hours trading.
Myriad Genetics - The molecular diagnostic company posted earnings of 53 cents a share on sales of $174 million, topping expectations for 44 cents a share on revenue of $160 million. Shares rallied in extended-hours trading.
Taylor Morrison Home - The homebuilder posted earnings of 27 cents a share on revenue of $509 million. Analysts expected the company to post sales of $491 million. Shares edged higher in extended-hours trading.
PennyMac - The residential mortgage company announced a 11.3 million secondary offering through Citigroup, Credit Suisse, JPMorgan and Morgan Stanley. Shares declined in extended-hours trading.
BioScrip - The pharmacy services provider announced a 6.8 million secondary offering through Morgan Stanley. Shares dipped in extended-hours trading.