Check out the companies making headlines after the bell Wednesday:
Cisco Systems shares rose nearly 7 percent after hours. The technology conglomerate reported Q2 earnings and revenues that beat analyst expectations. Guidance for the upcoming quarter looks better than expected.
The company finally ended a two-year streak of year-over-year revenue declines. The transition to software and services appear to be helping earnings and margins. Its biggest product segment, infrastructure platforms, saw revenue growth that exceeded consensus estimates. The company also announced a $25 billion stock buyback program.
TripAdvisor stock surged nearly 17 percent in extended trading. The hotel and restaurant website company announced earnings that fell below expectations, but revenues were better than expected. The revenue increase and impressive guidance were helped by the company’s non-hotel portfolio.
Average monthly unique visitors grew 17 percent this quarter and average monthly unique hotel shoppers grew 3 percent. The company appears to be getting better at monetizing and incentivizing its customer base. A $250 million stock buyback program was also authorized.
Shares of Teva jumped 8 percent after hours before settling. In a quarterly regulatory filing on Wednesday, Berkshire Hathaway reported a $358 million stake in the pharmaceutical company.
Applied Materials stock rose 2 percent before settling after the bell. The materials engineering solutions company reported earnings per share of $1.06 and revenues of $4.2 billion, surpassing Wall Street expectations. The upcoming quarter’s guidance was better than expected. The board also decided to double the dividend and increase share buybacks.
Marathon Oil stock rose more than 1 percent in the extended session. The global energy company announced a returns-driven development capital budget for 2018 and reported earnings that beat analyst predictions. Strong guidance for the upcoming year was also reported, with total annual oil production expected to increase about 18 percent.
Shares of Marriot fell 4 percent after hours, despite favorable earnings. The hospitality company beat Wall Street predictions on top and bottom lines. Revenue per available room is up 4.6 percent worldwide, with North America and Asia serving as great sources of strength.
NetApp shares slumped more than 10 percent in extended trading. The storage and data management company reported disappointing earnings. A one-time charge of $856 million from the Tax Overhaul Act negatively impacted their profit.
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