×

After-hours buzz: Seagate, Intel, Wynn & more

NYSE New York Stock Exchange traders markets
Getty Images

Check out the companies making headlines after the bell Wednesday:

Shares of Seagate Technology sank in extended trading after the company announced disappointing demand and margins in the March quarter. The data storage company said fiscal third-quarter sales were expected to hit $2.6 billion, compared to its prior forecast of $2.7 billion.

Seagate attributed the slide to reduced demand for both enterprise and silicon products, weak demand for desktop software in China and failure to participate in the low capacity notebook market. Still, despite disruptions of its traditional business, Seagate could benefit from cloud computing long term, the CEO said in a statement.

Shares of rivals Intel and Western Digital dipped in light volume after Seagate's report. Competitor Micron Technology, meanwhile, managed to cling to the day's gains after it was upgraded by analysts at Cowen & Co. late Tuesday, thanks to "unique ability to supply the age of cloud computing," according to financial publication Barron's.

Wynn Resorts' stock popped after hours, despite being downgraded by Deutsche Bank earlier in the day. The company's shares are up 41 percent year-to-date, despite pressure in Asian casino hub Macau, and are approaching Deutsche Bank's price target, the analysts noted.

Goldman Sachs' stock briefly edged lower as Wall Street digested news that U.S. regulators gave five major banks a failing grade on their bankruptcy plans. Presidential hopeful Hillary Clinton weighed in after hours, reiterating calls to break up the big banks.

It came after bank stocks were higher in regular trading Wednesday. Shares of Goldman Sachs,Citigroup, Wells Fargo, Morgan Stanley and Bank of America all rose more than 2.5 percent in the regular session after JPMorgan reported quarterly earnings.

Credit Suisse, which was not implicated as strongly in the bankruptcy report, continued to gain after hours.

— Reuters and CNBC's Fred Imbert, Everett Rosenfeld and Peter Schacknow contributed to this report.