Bloomberg SAN FRANCISCO (MarketWatch) — Bed Bath & Beyond Inc. shares dropped in the extended session Wednesday after the houseware retailer cut its outlook and quarterly results fell short of Wall Street expectations.
Bed Bath & Beyond (BBBY) fell 8.5% to $72.95 on heavy volume after the company reported fiscal third-quarter earnings of $1.12 a share on revenue of $2.87 billion. Analysts surveyed by FactSet expected $1.15 a share on revenue of $2.88 billion.
Bed Bath & Beyond also cut its outlook for expected earnings to a range of $1.60 to $1.67 in the fiscal fourth quarter, and $4.79 to $4.86 for the year. Analysts had forecast $1.79 a share for the fourth quarter and $5.02 a share for the year.
Macy's Inc (M) surged 5.2% to $54.51 on heavy volume after the retailer said it would lay off 2,500 workers and close five underperforming stores.
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Shares of Global Payments Inc. (GPN) advanced 4.8% to $67.50 on moderate volume after the company raised its earnings outlook for the year to a range of $4.03 to $4.10 a share. Analysts were forecasting $4.04 a share.
Stock in Mistras Group Inc. (MG) rose 6.9% to $23.99 on light volume after the company raised its revenue outlook for the year to a range of $590 million to $615 million. Analysts expected $592.1 million.
Also, shares of T-Mobile US Inc. (TMUS) were halted at $33.26 in after-hours trade just before the telecom company released early fourth-quarter customer numbers.
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