Market Focus

Whole Foods

Whole Foods reported a miss on the top and bottom lines. The grocer said same-store sales rose 4.5 percent, but that number trailed estimates. Whole Foods also lowered its full-year sales forecast and that’s after it already trimmed its outlook the past two quarters. Shares initially plunged after the report, the stock was down a fraction in the regular session to $47.95.

Electronic Arts

It was the opposite story for Electronic Arts. The video game maker reported its profit jumped about 14 percent on better than expected sales of new consoles. It also announced plans for a $750 million share buyback. To top it off the company raised its full-year guidance. Shares surged after-hours, up as much as 14 percent. During the regular session the stock was down 2.5 percent to $28.05.

Groupon

Groupon reported a quarterly loss, but it was not as bad as analysts were expecting and revenue also came in better than expected. But the online deals site issued a light second-quarter profit outlook. Shares initially fell after the bell. During the regular session, the stock was off by 2.5 percent to $6.72.

Pandora

Pandora’s listener hours were up 30 percent in April. The streaming internet radio company also saw its active listeners increase to 76 million people last month. But investors didn’t seem to like the news. Shares tumbled about nine percent to $22.52.

Office Depot

Office Depot is closing 400 of its stores in the U.S. over the next two years as its merger with OfficeMaxx led to an overlap of locations. It says the closures will save the company $75 million annually by the end of 20-16. The office supply chain also posted better than expected quarterly earnings. Shares surged almost 16 percent to $4.83.

Delta

Shares of Delta were up after the airline announced it will hike its quarterly dividend by 50 percent later this year. The company also launched a new stock buyback plan to increase returns for its shareholders. The $2 billion share repurchase will be completed by the end of 2016. The stock rose a fraction to $37.69.

Corinthian Colleges

Shares of Corinthian Colleges plunged after the company said it’s “exploring its options” and reported weak earnings. The for-profit education company, which is struggling because of declining enrollment and regulatory scrutiny, says its going to be working with an investment bank and possible putting itself up for sale. The stock fell more than nine percent to $1.08.

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