Kraft Heinz stock fell 9 percent in the extended session after the company released a mixed earnings report. The company reported earnings of 78 cents per share, lower than the 81 cents per share Wall Street estimated. However, the company beat revenue expectations, reporting $6.38 billion in revenue for the third quarter compared to the $6.31 billion analysts estimated.
Caesars Entertainment shares jumped 9 percent after the company announced that CEO Mark Frissora is stepping down. Frissora served as CEO for 3 years, guiding the company through its bankruptcy restructuring process that it emerged from in 2017. Caesars also released its third-quarter earnings report that beat earnings estimates but slightly missed revenue expectations.
Shake Shack shares fell 6 percent in after-hours trading despite releasing a strong third-quarter earnings report. The company reported earnings of 21 cents per share, higher than the 13 cents per share analysts expected. Revenue also beat expectations, with the company reporting $119.6 million for the third quarter compared to the $117 million Wall Street estimated.
However, same-store sales at the fast food chain were down 0.7 percent, while analysts expected an increase of 1.1 percent.