Market Insider

After-hours buzz: Citigroup, Envision Healthcare, Jabil Circuit & more


Check out the companies making headlines after the bell Wednesday:

Citigroup's shares surged briefly after a credit rating agency affirmed the bank's long-term prospects. Citi has an "A" rating on its long-term issuer default rating, Fitch Ratings said Wednesday. Citi has solid capital and liquidity levels, Fitch said in a statement, as the financial titan works to make its balance sheet more efficient and become a "smaller, simpler and safer bank."

Shares of AmSurg inched higher, while Envision Healthcare Holdings sank, after the two agreed to merge in an all-stock deal. The combined physicians' services company would be worth $10 billion, pro forma, and would be led by Amsurg CEO Christopher Holden, while Envision CEO William Sanger would stay on as executive chairman of the board. The two companies had been expected to merge this week as consolidation among health insurance companies and hospitals weighed on the industry.

People walk outside of the New York Stock Exchange.
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Apple supplier Jabil Circuit's stock dipped briefly after hours, despite reporting better-than-expected quarterly earnings. The electronics design firm reported fiscal third quarter earnings of 17 cents per share, excluding items, on revenues of $4.31 billion, higher than the 16 cents per share on revenues of $4.18 billion expected by a Thomson Reuters consensus estimate.

Though the company's electronics manufacturing services unit had "near-perfect" execution, CEO Mark Mondello said in a statement that the quarter was impacted by a "soft environment" within the mobility business. Apple's shares were mostly unchanged after the report.

Shares of multilevel marketing company Nu Skin bounced after a Chinese firm agreed to invest $210 million in the company. The funds from Ping An ZQ China Growth Opportunity Limited will help Nu Skin, a skin care and weight loss supplement company, expand in China, the company said in a statement. As a result of the investment, the company now expects second quarter sales at the high end of, or slightly above, the previously stated range of $560 million to $580 million, the company said.

QLogic shares popped after it was acquired for $15.50 per share by rival Cavium, which saw shares stumble in extended trading. The two semiconductor and networking companies will merge in a cash-and-stock deal that will allow Cavium to provide storage solutions, creating an end-to-end enterprise technology product, the companies said in a statement.