Market Insider

After-hours buzz: MLHR, BBBY, CREE & more

Traders work on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters

Take a look at some of Wednesday's after-hours buzz:

Herman Miller surged nearly 6 percent in extended-hours trade after reporting quarterly earnings and a more than 5 percent increase in its quarterly cash dividend. The furniture manufacturer posted a 13 percent increase in net sales for the quarter from the same period last fiscal year.

Bed Bath and Beyond fell more than 2.5 percent in extended trade after posting first-quarter earnings 1 cent below estimates on revenue in-line with expectations. The retailer sees a 2 to 3 percent increase in same-store sales for the second quarter. However, earnings guidance for that quarter is light.

CREE plunged more than 5 percent in extended-hours trade on the firm's announced restructuring of its LED business and a $500 million stock buyback.

Disney gained 0.4 percent in after-hours trade, reversing the day's decline. The entertainment company raised its dividend by 15 percent on an annual basis and increased the frequency of payouts from once a year to twice a year.

Marathon Oil gained more than half a percent in after-hours trade on news the stock was upgraded to "buy" from "neutral" at UBS, noting the upstream energy stock is a way to leverage recovery in oil prices.

Chesapeake Energy edged lower in extended-hours trade after a downgrade to "sell" from "neutral" at UBS, which also cut its price target on the stock based on leverage, declining production and relative valuation.

Murphy Oil fell about 0.8 percent in after-hours trade on a downgrade to "sell" from "neutral" and price target cut at UBS, citing valuation, declining production and below average inventory.