After-hours buzz: Yelp, Akamai, Panera & more
Check out the companies making headlines after the bell Tuesday:
Biotechnology provider Gilead Sciences blew past earnings projections with adjusted earnings of $3.15 a share, 44 cents above estimates, on revenue of $8.24 billion, which was also above estimates. The stock rose about 3 percent after hours.
Yelp, the online business review site, plunged about 15 percent after it reported a surprise second-quarter loss of a 2 cents a share, versus expectations of profit of a penny a share. The company reported second-quarter revenue of $134 million, slightly above projections, but third-quarter sales guidance was light. The company also said its chairman Max Levchin would step down from the board to pursue other interests.
Citrix shares rose 4 percent after the maker of office connectivity software earned an adjusted $1 per share on $797 million in sales for the second quarter. That topped expected earnings of 82 cents per share on $790 million in revenue. Citrix also said its CEO, Mark Templeton, would retire. Templeton, who joined the company in 1995, before it went public, will stay with the firm until it finds a replacement.
Social media firm Twitter saw its shares jump more than 4 percent after it beat on the top and bottom lines. The stock turned negative after the company provided bearish guidance during its earnings call. It was last down about 7 percent.
Buffalo Wild Wings, which specializes in New York-style chicken wings, missed profit and sales estimates. However, the stock popped 7 percent as same-store sales increased 4.2 percent at company-owned restaurants and 2.5 percent at franchised restaurants.
Panera Bread missed earnings and sales forecasts, but the restaurant operator's shares increased about 7 percent as same-store sales at company-owned locations grew 2.4 percent, on par with estimates. In addition, Panera said comparable-store sales at systemwide locations rose 1.8 percent, versus expectations of 2.2 percent.
Cloud computing firm Akamai Technologies tanked about 10 percent on disappointing earnings and guidance.