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An employee holds a shopping bag while ringing up a customer at the Levi Strauss & Co. flagship store in San Francisco, March 18, 2019.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines after the bell:
Shares of Levi Strauss briefly rose 2%and then settled slightly above its closing price after the company reported a 4% decline in profits for its third quarter. The denim retailer pointed to struggling sales in its wholesale business in the Americas.
“U.S. wholesale was challenged … particularly the legacy department stores and chain stores, where (the) much publicized traffic declines have negatively impacted our business,” CEO Chip Bergh said in an interview with Reuters.
The lackluster profit comes despite the company’s better-than-expected earnings for the quarter, posting earnings of 31 cents excluding items and revenue of $1.45 billion. Wall Street had expected earnings of 28 cents per share on revenues of $1.44 billion, according to Refinitiv consensus estimates.
Shares of FireEye jumped more than 4% after the company posted strong revenue guidance in its preliminary third-quarter earnings. The cybersecurity company’s management estimated its revenue to be above the high end of their prior guidance range of $217 million to $221 million in an SEC filing. Billings are expected to be within the company’s prior guidance of between $245 million and $255 million.
United States Steel Corporation shares dipped nearly 2% after the bell following an announcement that their CFO Kevin Bradley will resign, although he will remain at the company as executive vice president and “special advisor” to CEO David Burritt through the end of the year. Senior Vice President and Chief Supply Chain Officer Christine Breves will take the helm as CFO on Nov. 4, the company said in a press release.
Johnson & Johnson shares sunk more than 1% after a Philadelphia jury ruled that one of the drug-maker’s subsidiaries must pay $8 billion in damages after it failed to adequately warn against the risks of its anti-psychotic drug Risperdal. Johnson & Johnson marketed the drug to children for the treatment of autism-related symptoms.
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