Market Focus

KB Home 

KB Home posted results that topped estimates. Lower than expected deliveries were offset by an increase in selling prices. Revenue and home deliveries both inreased double digits. Shares were one percent higher to $14.60.

Bed Bath & Beyond 

A miss on the top line sent shares of Bed Bath & Beyond way down in initial after-hours trading. The home furnishings retailer did announce a new $2.5 billion stock buyback program. You can see shares slid initially after the close before coming back a bit. In the regular session the stock was off a fraction to $59.33.

Pier 1

Similar story for Pier 1. The company’s revenue also fell short of expectations and the firm cut its guidance for the full-year. Shares slipped initially after the close. In the regular session the stock was off 2.5 percent to $8.67.

Scholastic 

The publisher Scholastic reporting a wider than expected loss, but the loss comes right after the company sold its educational technology unit. The company’s children’s publishing unit helped drive a jump in revenue. Shares were up a few cents to close at $42.79.

Accenture 

Accenture also posted a beat on the top and bottom lines. This despite the negative impact of a strong dollar. The consulting firm also hiked its dividend by eight percent and added $5 billion to its stock buyback program. Shares fell a fraction to $97.77.

Transocean 

A report that Transocean, the offshore rig contractor, is being linked to the corruption probe of Petrobras, weighed on shares. According to Bloomberg, a former executive at the Brazilian state-run oil firm testified that he received payments from someone claiming to work for Transocean in exchange for a contract. Shares tumbled almost five percent to $13.01.

Marvell Technology

The chipmaker Marvell Technology said it would cut jobs in its mobile platforming business. The move will result in a nearly 20 percent reduction in its global workforce of around 7,000. Shares popped in initial after hours trading. Before the close the stock was up about 3.5 percent to $9.02.

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