Market Insider

After-hours buzz: IBM, Sanmina, Shake Shack & more

Check out the companies making headlines after the bell Monday:

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters

International Business Machines - Shares fell about 4 percent after the tech giant missed sales expectations, although earnings beat. IBM reported earnings of $3.84 a share on revenue of $20.81 billion, versus Wall Street projections of $3.78 a share on $20.95 billion in revenue.

Shares of fast-food operator Shake Shack fell about 5 percent after it disclosed a secondary offering of up to 4 million shares of common stock. The shares will be sold by existing shareholders, and the company will not any receive proceeds from the transaction, Shake Shack said in a regulatory filing.

Sanmina shares jumped about 9 percent after the electronics components maker raised its quarterly guidance. It now expects fourth-quarter revenue of between $1.55 billion and $1.65 billion and adjusted earnings of as much as 58 cents per share. Current estimates call for 53 cents per share on $1.56 billion in sales. It reported fiscal third-quarter adjusted earnings of 53 cents per share on $1.54 billion in revenue, compared 53 cents a share on $1.60 billion in the year-earlier period.

Rambus shares dropped about 6 percent after the chipmaker reported weak guidance.

Biotech firm Exact Sciences announced an agreement to sell 7 million shares of common stock. The stock tumbled about 5 percent after hours.