After-Hours Action: Yahoo, Gilead, Illumina, Chipotle
Loading the player… Here’s a quick rundown of Tuesday’s after-hours action: Yahoo ( YHOO ) reported fourth-quarter earnings dropped 57% but were in line with estimates. Revenue edged up 1.6% to beat views. The company says it’s exploring strategic options, including a reverse spin-off of its Alibaba stake and the sale of non-core assets. Yahoo plans to cut 15% of its workforce. Shares fell 3% late. Edwards Lifesciences ( EW ) said fourth-quarter revenue increased 9%, while earnings jumped 19%. Both surpassed estimates. The medical device maker also raised its 2016 guidance above forecasts. Shares jumped nearly 5% in extended trade. Gilead Sciences ( GILD ) handily topped fourth-quarter earnings and revenue estimates. EPS popped 37%, and revenue rose 16%. Its 2016 product sales forecast was roughly in line with analyst estimates. The hepatitis C and HIV drugmaker also announced a $12 billion share buyback program. Shares rose fractionally late. Illumina ( ILMN ) fourth-quarter earnings fell 7% on a 15% revenue rise. The bottom line missed by a penny, while the top line beat views. The maker of gene-sequencing systems issued full-year revenue guidance that was in line with views, but its earnings guidance that was light. Shares fell 2% late after closing down 2.7%. Chipotle Mexican Grill ( CMG ) issued its first quarterly report since it was hit with an E. coli outbreak. Chipotle’s Q4 earnings plunge of 44% was not as bad as Wall Street feared, while its 7% revenue decline missed expectations. The CDC declared on Monday that the outbreaks were over, but a criminal investigation is ongoing. Chipotle warned that 2016 “will be a very difficult year,” predicting first-quarter EPS will be breakeven. Wall Street had expected $2.08 a share, down 46%. Chipotle tumbled 6% in late trading.