Check out which companies are making headlines after the bell on Wednesday:
Facebook shares popped up 2 percent in after-hours trading Wednesday after the company reported earnings above analysts expectations. The social media company reported earnings of $1.41 per share well above Wall Street exception's of $1.31 earnings per share. Facebook also reported a revenue of $8.81 billion, which is above the $8.51 billion revenue figure expected, according to a Thomson Reuters consensus estimate.
Shares of Symantec fell 3 percent after the company said it plans to use corporate bonds to acquire competitor LifeLock in a press release Wednesday. The technology company said it plans to offer $1 billion in unsecured senior notes for the purchase. Symantec also reported earnings that beat on both the top and bottom lines. Symantec said earnings came in at 32 cents per share vs 28 cents per share expected. The company's revenue was reported as $1.088 billion versus $909 million expected.
Qorvo shares plummeted 8 percent after the company gave weak guidance for its current quarter. The chipmaker's president and CEO Bob Bruggeworth said in a press release Wednesday, he is expecting an "historical sequential decline as two of our leading customers in China and a tier-one customer in Korea delay flagship smartphone launches." The company also reported second-quarter earnings exceeding the analyst expectations. Qorvo's revenue and earnings were reported as $826.3 million and $1.35 per share, respectively, both higher than the $821.3 million in revenue and $1.29 earnings per share projected, according Thomson Reuters consensus estimates.
Shares of Cavium rose 2 percent after the company reported earnings higher than the Street's expectation. The semiconductor company posted earnings of 56 cents per share beating the 54 per share expected by analyst. Cavium also beat on revenue, recordings sales of $226.2 million versus the $224.5 million anticipated, according to a Thomson Reuters consensus estimate.
Mead Johnson shares soared 20 percent after the The Wall Street Journal reported, citing sources, that Reckitt Benckiser is in talks to buy the baby-food maker for $15 billion. The newspaper said, however, that no deal is guaranteed.