After-hours buzz: JCPenney, Tesla, L Brands & more
Check out which companies are making headlines after the bell Wednesday:
J.C. Penney - The clothing retailer reported a loss of 68 cents a share on sales of $3.78 billion. Analysts expected the company to post a loss of 85 cents a share on sales of $3.85 billion. In addition, the company said it expects current-quarter same-store sales to be up between 3 and 5 percent, slightly lighter than expected. Separately, J.C. Penney said it has received a termination letter from the SEC regarding a previously disclosed investigation. Shares jumped in extended-hours trading.
Tesla Motors - The electric car maker said it is offering $1.6 billion in convertible senior notes in an underwritten registered public offering. The company plans to use the proceeds from the sale to find its "Giga factory" and the development of its "Gen III" mass market vehicle. Tesla shares gained in extended-hours trading.
Autodesk - The software company reported a profit of 40 cents a share, excluding one-time items, on revenue of $587 million, topping expectations for 34 cents a share on sales of $573 million. In addition, the company handed in current-quarter revenue guidance that exceeded forecasts, while the earnings outlook missed estimates. Still, shares rose in extended-hours trading.
Baidu - The Chinese Internet company posted quarterly results that exceeded Wall Street expectations, sending shares sharply higher in extended-hours trading.
L Brands - The parent company of Victoria's Secret and Bath & Body Works reported a profit of $1.68 a share, ex-items, on revenue of $3.82 billion, versus expectations for $1.61 a share on sales of $3.89 billion. In addition, the company handed in full-year revenue guidance that fell short of expectations. Shares dipped in extended-hours trading.
Noodles & Co. - The fast-casual restaurant reported earnings of 11 cents a share, ex-items, on revenue of $92 million, shy of expectations for 12 cents a share on sales of $93 million. In addition, the company handed in full-year 2014 revenue guidance that was largely in line with forecasts. Shares slumped in extended-hours trading.
Nordstrom - The department store chain increased its quarterly dividend by 10 percent to 33 cents a share from 30 cents a share. Shares remained unchanged in extended-hours trading.
General Growth Properties - The real estate investment trust increased its quarterly dividend by a penny a share to 15 cents a share from 14 cents a share. Shares were largely unchanged in extended-hours trading.
Prologis - The commercial property company lifted its quarterly dividend to 33 cents a share from 28 cents a share. Shares were largely unchanged in extended-hours trading.
Piper Jaffray upgraded Acuity Brands to "overweight" from "neutral," sending shares higher in extended-hours trading. Meanwhile, the brokerage downgraded Cree to "neutral" from overweight," pushing shares lower in after-hours trading.