After-hours buzz: Chevron Ruby Tuesday, Citrix & more
Check out which companies are making headlines after the bell Wednesday:
Chevron - The oil giant said it expects third-quarter earnings to be lower than in the prior quarter. Shares declined in extended-hours trading.
Ruby Tuesday - The restaurant chain posted a loss of 36 cents a share on sales of $290 million, disappointing Wall Street expectations for a loss of 5 cents a share on revenue of $298 million. In addition, the company said it anticipates same-store sales to be down high single digits in the second quarter with sequential improvement in the third and fourth quarters, including positive same-restaurant sales in the fourth quarter. Shares plunged in extended-hours trading.
Zumiez - The teen clothing retailer posted September same-store sales that slipped 0.6 percent, which was slightly better than expectations for a loss of 0.8 percent. Shares rose in extended-hours trading.
Citrix Systems - The software company said it expects to report earnings of between 68 cents a share and 69 cents a share, excluding items, on revenue of between $710 million and $712 million, below current Wall Street expectations for 73 cents a share on sales of $737 million. The company is scheduled to post its results on Oct. 23. Shares declined sharply in extended-hours trading. VMWare, EMC and Salesforce.com also traded lower following the announcement.
Tiffany - Sterne Agee lifted its rating on the luxury jewelry to "buy" from "neutral" and boosted its price target to $86 from $80. Shares edged higher in extended-hours trading.
Aruba Networks - The computer networking company announced an additional $100 million in share repurchase authorization. Shares rallied in extended-hours trading.
Buckeye Partners - The petroleum distributor said it will acquire 20 liquid petroleum products terminals from Hess for approximately $850 million. Shares of both companies edged lower in extended-hours trading.
Ariad Pharmaceuticals - The pharmaceutical company was downgraded to "hold" from "buy" at Maxim Group, sending shares lower in extended-hours trading.
Cubist Pharmaceuticals - The biopharmaceutical company was initiated with an "outperform" rating and a $81 price target at Oppenheimer. Shares ticked higher in extended-hours trading.
Ctrip.com - The Chinese travel agency company announced a proposed offering of $500 million in convertible senior notes. Shares slid in extended-hours trading.