Facade with sign and logo at the La-Z-Boy furniture store in Pleasanton, California, April 16, 2018.
Smith Collection | Gado | Getty Images
Check out the companies making headlines after the bell.
Dell Technologies, VMware — Shares of Dell Technologies and VMware spiked 18{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} and 10{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} respectively in after-hours trading on a report that Dell is looking at options for its $50 billion stake in the information technology company. The options include spinning off its 81{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} stake or buying the rest of VMware, according to the Journal.
La-Z-Boy — The furniture manufacturer’s stock whipsawed in extended trading after La-Z-Boy reported fourth-quarter earnings. The company reported earnings of 49 cents per share excluding some items on revenue of $367 million, while analysts estimated 20 cents per share on revenue of $385 million, according to Refinitiv. La-Z-Boy is also permanently closing its Newton, Miss. manufacturing facility and reducing its global workforce by approximately 10{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, according to a company statement.
Carnival — The cruise operator’s stock dipped 1{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} after the closing bell. Carnival was reduced to junk status by S&P Global Ratings, which downgraded the company’s credit rating from BBB- to BB-. “We expect Carnival’s credit measures to remain very weak through 2021 because of its plans for a gradual reintroduction of capacity and our forecast for continued weak demand,” S&P said in a statement. The agency warned that Carnival remains on credit watch and could be downgraded again. Norwegian Cruise Line and Royal Caribbean Cruises also saw their shares fall 1{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in after-hours trading.
DraftKings — DraftKings’ stock climbed 1{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in extended trading. Earlier Tuesday, the sports betting company announced the launch of a standalone mobile casino app in New Jersey, which will include new games exclusive to DraftKings as well as updated classics such as blackjack and roulette.
Beyond Meat — The meat substitute maker’s stock dipped about 1{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in extended trading. Earlier on Tuesday, Starbucks launched a new breakfast sandwich made with plant-based sausage from Impossible Foods, Beyond Meat’s competitor. The Impossible Breakfast Sandwich is now available on most Starbucks menus in the U.S.
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