Market Insider

After-hours buzz: Adobe, Texas Instruments & more

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

Check out the companies making headlines after the bell Thursday:

Adobe Systems fell about 2 percent in extended-hours trading after the company announced a slew of executive leadership changes and provided weak guidance. The software firm also handed in adjusted earnings of 54 cents per share on $1.22 billion in sales, versus estimates of 50 cents a share on $1.22 billion in revenue.

Chip maker Texas Instruments said its board authorized it to repurchase an additional $7.5 billion in common stock. The company also boosted its quarterly dividend by 12 percent to 38 cents a share. The stock was up about 1 percent after the announcement.

AK Steel shares surged about 13 percent after the materials producer reported third-quarter guidance. It expects to report a net loss of between 2 cents and 7 cents a share, narrower than its second-quarter net loss of 36 cents a share.

La Quinta shares tumbled more than 5 percent after the hotel operator said its CEO, Wayne Goldberg, would step down. It appointed Chief Financial Officer Keith Cline as interim replacement, effective immediately. The company's board also approved buying back up to $100 million in stock.

Shares of Shopify, which operates a cloud-based commerce platform, were up as much as 3 percent after hours. Earlier, Shopify announced an agreement with Amazon to be the company's preferred migration partner for its Web store merchants. In March, Amazon announced that it would discontinue the service.