Market Insider

After-hours buzz: IM, JACK, DVN & more

Check out the companies making headlines after the bell Wednesday:

Wholesale technology distributor Ingram Micro saw its stock jump after news it would be acquired by Chinese shipping company Tianjin Tianhai in a $6 billion all-cash deal. The merger will allow the companies to expand bulk shipments to key Asian markets, according to the Associated Press.

Quick service restaurant Jack In The Box saw shares sink after its fiscal first-quarter earnings fell nearly 10 cents per share short of estimates. The burger chain, and owner of Qdoba Mexican Eats, pointed to increased competition for breakfast consumers as other chains, like McDonald's, moved in on their morning turf.

Traders work on the floor of the New York Stock Exchange.
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"Jack in the Box sales in the last part of the quarter were lower than we anticipated as several competitors began promoting aggressive value offers," Lenny Comma, the company's chairman and CEO, said in a statement. "We also experienced weakness at breakfast and lunch throughout the quarter, which we attribute primarily to our decision to shift the timing of some of our promotional activity around breakfast to the second quarter as compared to the first quarter of last year."

Shares of Newmont Mining dipped in extended trading after the company reported fourth-quarter earnings that fell short of Wall Street's expectations.

Newmont, one of the world's largest producers of gold, reported adjusted earnings of 4 cents a share, lower than the 13 cents expected by analysts, according to the AP. Spot gold prices are nearly flat over the past year.

Ingram Micro to be bought

Nvidia's stock popped after the bell after the technology company posted better-than-expected quarterly results. The graphics processing and chip maker posted profit of 35 cents per share, above the 32 cents analysts had expected, the AP reported.

Shares of Devon Energy slid after hours after the company said it would offer 55 million shares through Goldman Sachs. Proceeds from the offering will be put toward "general corporate purposes" such as paying down debt and boosting liquidity, the company said in a statement.

Shares of Internet domain company GoDaddy were dinged in extended trade despite reporting growing sales in the latest quarter. Fellow technology company ZenDesk's stock sank after the cloud and software service provider's price target was cut by a series of analysts Wednesday.

— The AP and Reuters contributed to this report.