After-hours buzz: Verizon, Palo Alto Networks & more
Check out which companies are making headlines after the bell Monday:
Shares of Verizon edged up in late trading after it announced a multi-tranche bond deal consisting of three-year fixed and floating notes, five-year fixed and floating notes and four fixed rate tranches with seven-, 10-, 20- and 30-year maturities. Pricing is expected on Wednesday.
Network security firm Palo Alto Networks posted fourth-quarter earnings excluding items of 6 cents per share, meeting Street forecasts. Revenue rose 49 percent to $112.4 million from a year earlier. The stock dropped in late trading.
PVH shares were lower after the company's third-quarter guidance disappointed the Street. The apparel maker forecast earnings of $2.20 per share, 8 cents below current estimates. Second-quarter earnings excluding items were $1.39 a share, beating Street forecasts for $1.37 per share.
Shares of teen retailer Five Below surged in late trading, after the company posted fiscal second-quarter earnings of 11 cents per share excluding items on revenue of $117.1 million. Same-store sales increased 6.6 percent. Analysts were looking for earnings of 9 cents per share. The company also sees third-quarter earnings of 3 cents to 4 cents per share on revenue of $107 million to $109 million.
Convenience store operator Casey's General Stores was sharply lower in late trading. The retailer posted earnings of $1.43 per share on revenue of $2.11 billion. Results were helped by strong gasoline sales. Same-store sales rose 6.1 percent.
Pep Boys posted earnings of 10 cents per share for the second quarter, missing Street forecasts for 19 cents per share as same-store sales dropped 1.3 percent. The stock dropped in late trading.
In other news, Starwood Property Trust will offer 25 million shares in a public offering. The proceeds will be used to originate and purchase additional commercial mortgage loans and other investments. The stock fell in late trading.