After-hours buzz: BlackBerry, Louisiana-Pacific & more
Check out which companies are making headlines after the bell Wednesday:
BlackBerry was higher in late trading after a late day spike following a Dow Jones story that the company aims to find a buyer by November, according to sources. The smartphone maker had announced last month that it was exploring strategic alternatives.
Louisiana-Pacific said it will acquire Canada's Ainsworth Lumber in a $1.1 billion transaction. The deal is expected to add to earnings and cash flow in the first year. It will also give Louisiana-Pacific greater access to Asian markets and a more diverse product mix. Shares of LP fell slightly in extended hours trading.
Hess hiked its quarterly dividend 150 percent to 25 cents per share. John Hess, the company's CEO said in a statement, "Our transformation into a pure play exploration and production company allows us to increase cash returns to shareholders." The stock rose in late trading.
Warner Chilcott shares edged higher in after-hours trading after the company and Mayne Pharma entered into a settlement with Mylan Labs to resolve Mylan's damages claim under a $36 million bond posted by the two companies in September 2011 in connection with patent infringement litigation against Mylan.
Turning to earnings, Greif, which makes industrial packaging products, reported fiscal third-quarter earnings of 80 cents per share on revenue of $1.13 billion. Results were below Street forecasts. The company also backed its fiscal 2013 earnings before interest, taxes, depreciation and amortization forecast of $475 million to $500 million.
NCI Building Systems, which makes metal products for the non-residential construction industry, dropped in late trading. The company earned 2 cents per share excluding items, beating forecasts for a loss, but revenue came in below Street expectations. The company also said it is unlikely the market will recover sufficiently to post annual growth in volume.