The eye network reported mixed results after the bell. CBS posted earnings that topped estimates. But revenue came in short as the media giant took a hit because it lost the rights to broadcast the NCAA college basketball semi-finals. Despite that, CBS is doubling its share buyback program to $6 billion and increasing its dividend to 15 cents a shares. Shares fell initially after the report. During the regular trading session the stock was off one percent to $56.90.
NewsCorp reported weaker than expected fourth-quarter earnings after the bell. The publisher of the Wall Street Journal said revenue came in a bit above forecasts, but the number was down from last year as advertising sales were weak. Shares didn’t move much after the report. During the regular trading day the stock was down nearly one percent to $17.01.
Generic drug maker Mylan missed earnings estimates, with revenue falling short as well. The company also cut its earnings guidance for the current quarter, blaming higher expenses and delays in FDA approval for key products. That sent shares down about three percent to $46.49.
Google & Barnes & Noble
Google and Barnes & Noble are joining forces to deliver books. Starting today, the book buyers in a few locations will be able to get same-day deliveries from local Barnes & Noble build an online presence since its brick and mortar business has struggled. Class A shares of Google were slightly off at $571.81. Barnes and Noble was 2.5 percent higher to $21.75.
Wendy’s served up second-quarter earnings that more than doubled. The fast-food chain continued to benefit from the sale of some of its restaurants and the company said its going to continue the strategy and offer up more of its franchises. To top it off the company reaffirmed its guidance. Shares were up two percent to $8.15.
Shares of Zynga tanked right after it reported disappointing results. The social gaming company announced weaker than expected revenue as it struggles to increase users. Also its guidance was significantly short of estimates. After hours the stock initially plunged. During the regular session shares jumped 4.5 percent to $2.92.