After-hours buzz: Adobe, EA, Symantec & more
Check out which companies are making headlines after the bell Tuesday:
Adobe Systems - The computer software company posted earnings of 32 cents a share, excluding one-time items, on sales of $995 million, missing expectations for 34 cents a share on revenue of $1.01 billion. In addition, the company handed in current-quarter earnings and revenue guidance fell short of Wall Street expectations. Still, shares jumped in extended-hours trading.
Electronic Arts - The videogame publisher named the company's sports chief Andrew Wilson as its new CEO. Interim CEO Larry Probst will remain as the company's executive chairman. Shares dipped slightly in extended-hours trading. Meanwhile, shares of rival Activision Blizzard were unchanged in extended-hours trading.
Dollar Tree - The discount retailer announced a $2 billion shares purchase program. Shares gained in extended-hours trading.
Five Below - The discount store chain announced a 7 million share secondary offering for holder Advent International through Credit Suisse. Shares declined in extended-hours trading.
Nomura Securities initiated coverage of AVG Technologies with a "buy" rating and a price target of $29. Meanwhile, the brokerage started coverage of Symantec with a "neutral" recommendation and a price target of $29. Both companies were narrowly mixed in extended-hours trading.
Magellan Midstream Partners - The oil and gas distributor announced its CFO John Chandler will be leaving at the end of next March. Shares were unchanged in extended-hours trading.