After-hours buzz: Allstate, Avis, Chegg, TriNet & more
Check out the companies making headlines after the bell Monday:
American International Group, the country's No. 1 commercial insurance provider, handed in second-quarter earnings of $1.39 a share, beating estimates of $1.22 a share. The company also raised its quarterly dividend and said it would buy back up to $5 billion in additional shares. The stock wavered in after-hours trading.
Allstate shares fell about 4 percent after the insurance provider missed earnings and revenue estimates, citing the negative impacts of more frequent and severe auto accidents.
TriNet plunged nearly 30 percent after the employment outsourcing provider missed earnings and revenue estimates.
Auto rental firm Avis Budget Group beat earnings estimates by 16 cents with adjusted earnings of 84 cents a share. Revenue came in at $2.17 billion, missing forecasts for $2.24 billion. Share fell about 2 percent after hours.
MedAssets spiked about 14 percent after Starboard Value disclosed an 8.7 percent stake in the medical data analytics provider and called it "deeply undervalued," DowJones reported.
Texas Roadhouse, a casual dining chain, saw its shares fall about 3 percent after it reported adjusted earnings of 30 cents a share, 7 cents below estimates, on sales of $455 million, which topped projections of $451 million.
Textbook rental provider Chegg beat on the top and bottom lines, but the stock tumbled about 6 percent on poor third-quarter revenue guidance.
Sprint shares fell more than 2 percent after the mobile service provider said its Chief Financial Officer Joseph Euteneuer left the company. Sprint named Tarek Robbiati as his successor.