After-hours buzz: Alcoa, Yum Brands, Apple & more
Check out which companies are making headlines after the bell Tuesday:
Alcoa - The aluminum producer posted earnings of 11 cents a share, excluding one-time items, on sales of $5.77 billion, easily topping expectations for 5 cents a share on sales of $5.63 billion. The company affirmed its 2013 global aluminum demand growth forecast of 7 percent. Shares gained in extended-hours trading.
Yum Brands - The parent company of KFC and Pizza Hut posted earnings of 85 cents a share, excluding one-time items, on revenue of $3.47 billion, missing expectations for 93 cents a share on sales of $3.53 billion. In addition, the company said it expects full-year earnings declining at a high-single digit to a low double-digit rate. Shares tumbled in extended-hours trading. Rivals McDonald's and Wendy's also traded lower.
Apple - The tech giant plans to unveil some new products at its next invitation-only event on October 22, according to a report from AllThingsD, citing people familiar with Apple's plans. Apple shares edged higher in extended-hours trading.
Pall - The filtration and purification company said its chairman Ronald Hoffman will be succeeded by current president and CEO Larry Kingsley effective immediately. Hoffman will assume the role of Lead Director. Shares rallied in extended-hours trading.
Patterson-UTI - Cowen downgraded the land-based drilling rig operator's rating to "market perform" from "outperform," but still increased its price target on the firm to $25 from $22. Shares dipped in extended-hours trading.
ExOne - The 3-D printing machine manufacturer was initiated with a "buy" rating at Janney Capital and a price target of $70. Shares edged higher in extended-hours trading.