After-hours buzz: Texas Instruments, IBM, Best Buy & more
Check out which companies are making headlines after the bell Tuesday:
Texas Instruments - The chipmaker narrowed its third-quarter earnings and revenue guidance. The company said it now expects to earn between 51 and 55 cents a share on revenue of between $3.15 billion and $3.29 billion. Analysts currently expect the company post earnings of 53 cents a share on sales of $3.23 billion. Shares slid in extended-hours trading.
Restoration Hardware - The furniture chain posted earnings of 49 cents a share, excluding one-time items, on sales of $382 million, exceeding Wall Street expectations for 43 cents a share on revenue of $387 million., In addition, the company handed in current-quarter guidance that topped forecasts. Shares climbed in extended-hours trading.
Synnex - The IT supply chain services company acquired IBM's customer care business in a deal worth $505 million. In addition, Synnex entered a multi-year agreement to become IBM's strategic business partner. Shares of Synnex rallied in extended-hours trading. IBM also inched slightly higher.
Best Buy - CEO Hubert Joly sold 350,467 stock options and 100,686 shares of the company, according to the most recent 8K filing. Shares of the company slipped in extended-hours trading.
International Paper - The pulp and paper company lifted its quarterly dividend by 17 percent to 35 cents a share and announced a $1.5 billion stock repurchase program. Shares climbed in extended-hours trading.
Oxford Industries - The clothing retailer posted earnings of $1.01 a share, ex-items, on sales of $235 million, versus expectations for 98 cents a share on revenue of $243 million. Meanwhile, the company handed in current-quarter earnings guidance that missed Wall Street expectations, sending shares lower in extended-hours trading.
ISI Group initiated coverage of 21st Century Fox, AMC Networks, CBS, Time Warner and Viacom with a "buy" rating. Meanwhile, the brokerage started coverage of Disney, Discovery Communications and Scripps Networks Interactive with a "neutral" rating.