After-hours buzz: Oracle, McDonald's, Cisco & more
Check out which companies are making headlines after the bell Wednesday:
Oracle - The enterprise software maker posted earnings of 59 cents a share, excluding one-time items, on sales of $8.38 billion. Analysts expected the company to post a profit of 56 cents a share on sales of $8.48 billion. In addition, the company said it expects to see earnings of between 64 cents a share and 69 cents a share, ex-items, in the current quarter, versus estimates for 69 cents a share. Meanwhile, the company expects revenue growth of between 1 percent and 4 percent versus projections for 3 percent. Shares reversed their initial gains to turn lower in extended-hours trading.
McDonald's - The fast-food giant raised its dividend to 81 cents a share from 77 cents a share. Shares were largely unchanged in extended-hours trading.
Credit Suisse initiated coverage of Juniper and Ubiquiti Networks with a "neutral" rating. And the brokerage started coverage of Cisco Systems with an "underperform" rating. Shares of all three companies ticked lower in extended-hours trading.
Steelcase - The office furniture manufacturer posted earnings of 24 cents a share, excluding one-time items, on sales of $758 million, missing expectations for 26 cents a share on revenue of $773 million. Shares were unchanged in extended-hours trading.
Herman-Miller - The furniture company posted earnings of 43 cents a share, ex-items, on sales of $468 million, exceeding expectations for 38 cents a share on revenue of $465 million. Shares edged lower in extended-hours trading.
Ralph Lauren - The clothing retailer announced changes to its leadership team and to create an Office of the Chairman. Shares were largely unchanged in extended-hours trading.
Hatteras Financial - The mortgage REIT company slashed its quarterly dividend to 55 cents a share from 70 cents a share. Shares dropped in extended-hours trading.
Sterne Agee initiated coverage of AmerisourceBergen and McKesson with a "buy" rating. Meanwhile, the brokerage started coverage of Cardinal Health with a "neutral" rating. Shares of all three companies were narrowly mixed in extended-hours trading.