Smucker’s Fruit & Honey brand fruit spread
Daniel Acker | Bloomberg | Getty Images
Check out the companies making headlines after the bell.
IBM — The technology company’s stock fell 3% in extended trading after IBM reported first-quarter financial results. The company reported revenue of $17.57 billion while analysts polled by Refinitiv expected $17.62 billion. IBM also said it had earnings of $1.84 per share excluding some items, while analysts anticipated $1.80 per share, according to Refinitiv. The company also withdrew its full-year 2020 guidance in response to the coronavirus.
J.M. Smucker — The food and beverage company’s stock rose more than 1% in extended trading after Smucker provided stronger guidance for fiscal 2020. The company said it expects adjusted earnings per share to surpass the high end of the previous guidance range of $8.10 to $8.30 for fiscal 2020, reflecting an increased contribution from sales. Smucker also estimates net sales to be down 1 percent to the prior year compared to previous guidance of down 3 percent, due mostly to increased demand. The company’s free cash flow is also expected to exceed previous guidance of $850 million.
Equifax — The consumer credit reporting company’s stock jumped 5% during extended trading after the company reported first-quarter financial results. Equifax reported first-quarter earnings of $1.40 per share on revenue of $957.9 million. The company had earnings of $1.20 per share on revenue of $846.1 million during the same period a year ago.
United Airlines — The airline’s stock rose 1% after the closing bell. The company reported Monday that it had a $2.1 billion loss for the first quarter because of the coronavirus, its biggest loss since 2008. The airline has applied for up to $4.5 billion in government loans in addition to the $5 billion it expects to receive in federal aid.
FLIR Systems — Shares of the thermal imaging system company rose 3% after the market closed. FLIR could be in a position to benefit as companies look to temperature-screen employees because of the coronavirus, according to analysts.
Zions Bancorporation — The financial holding company’s stock dipped 1% in extended trading after the company reported net interest income of $548 million in the first quarter versus $576 million a year ago.