CSX posted late results that beat estimates. The railroad company said profit fell slightly on slumping coal volumes and warned that coal headwinds will continue into 2016. Still, earnings beat estimates, while revenue came in just short of consensus. Shares popped in initial after-hours trading. During the regular session, the stock was off more than two percent to $27.71.
Twitter says it will lay off up to eight percent of its work force. The move is part of a restructuring plan that CEO Jack Dorsey says will put the company on a stronger path to grow. The stock rose one percent to $29.05.
PepsiCo & Coca Cola
PepsiCo and Coca-Cola are reportedly in talks to buy a stake in the Greek yogurt company Chobani. According to Reuters, the potential deals could value the firm as high at $3 billion. PepsiCo fell one percent to $97.92. Coca-Cola was off a fraction to $41.65.
FMC corp saw its shares fall after lowering its outlook and announcing layoffs. The chemical manufacturing company cited the devaluation of the Brazilian real. Shares tumbled three percent to $36.35.
SanDisk saw its shares pop right after the close on reports that the company is exploring a sale. According to Bloomberg, the computer memory firm is working with a banker on a possible deal, and both Micron and Western Digital have expressed interest. Shares rose initially after the close. During the regular session the stock was off nearly two percent to $61.77.