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After-hours buzz: Oracle, Ulta, Western Digital & more

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Check out the companies making headlines after the bell Thursday:

Shares of Oracle dipped as the company walked away from a lawsuit with Google without any of the $9 billion requested damages, Reuters reported. A jury upheld claims that Alphabet's use of Oracle's Java development platform was protected under the fair-use provision of copyright law. Google's shares inched higher after the outcome.

Ulta Salon's stock popped after the cosmetics retailer posted quarterly earnings. The company earned $1.45 per diluted share on revenues of $1.07 billion in the fiscal first quarter, above the $1.29 per share on $1.03 billion in revenue expected by Thomson Reuters consensus estimates. Same store sales increased 15.2 percent amid "healthy consumer demand in the beauty category," CEO Mary Dillon said.

Western Digital's shares dropped after the hard drive company adjusted expectations for future sales. The company now expects fourth quarter revenue in the range of $3.35 billion to $3.45 billion, compared to its earlier forecast of $2.6 billion to $2.7 billion, as it integrates recently-acquired SanDisk.

Shares of The Williams Companies tumbled after Standards & Poors placed its corporate credit on "CreditWatch" with negative implications. The Williams Companies has been embroiled in complex merger proposal with Energy Transfer Equity, and the credit rating agency said it expects to lower its rating on Williams by two notches when the merger closes.

"The merger transaction faces both industry and legal headwinds, with weaker commodity prices and lower expected commercial synergies that have decreased from about $2 billion to $126 million as key drivers of the revised credit measures," S&P analyst Michael Grande wrote in a release.

Deckers' stock fell after the company announced a new CEO would lead the company by the end of the month. Dave Powers will become CEO of the brand behind shoes like Ugg boots and Tevas. Powers succeeds Angel Martinez, who is retiring, the company said. Meanwhile, the company reported quarterly results, which were challenged as warm weather hampered retail traffic, Martinez said.

Palo Alto Networks' shares sank after the cybersecurity firm's guidance on future financial performance was lower than expected. The company now expects to hit earnings of 48 cents per share to 50 cents per share on sales of $386 million to $390 million in the fiscal fourth quarter. Analysts expected figures at the upper end of that range: 50 cents per share of earnings on $389 million in sales, according to Thomson Reuters consensus estimates.

Fellow cybersecurity firm FireEye also edged lower following the news.

— Reuters contributed to this report.