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After Hours: NetApp, Box, Pedevco Gain; Williams-Sonoma Slips

Williams-Sonoma Inc. (WSM) - Shares of the home goods retailer slipped 6% on Wednesday after the bell despite the company reporting a second-quarter profit and revenues that trumped Wall Street expectations, driven largely by online sales. Second-quarter profit rose to $134.6 million or $1.70 per share from $62.6 million or $0.79 per share last year. Adjusted earnings were $1.80 per share, beating Thomson Reuters polled analysts' estimate of $1.00 per share. Revenues grew 8.8% to $1.49 billion from $1.37 billion last year. E-commerce revenue grew by 46%. Analysts had a consensus revenue estimate of $1.47 billion.

NetApp Inc. (NTAP) - Shares of the company jumped over 10% on extended trading Wednesday after the company's first-quarter profit and revenues trumped Wall Street estimates. The data-storage company reported first-quarter profit of $77 million or $0.35 per share, down from $103 million or $0.42 per share last year. Adjusted earnings were $0.73 per share, beating analysts' estimate of $0.41 per share. Sunnyvale, California-based NetApp's revenues rose to $1.30 billion from $1.24 billion last year. Analysts had a consensus revenue estimate of $1.15 billion.

Box Inc. (BOX) - Shares of the enterprise-software maker jumped nearly 8% in after-hours trading Wednesday after the company reported a second-quarter results that topped Wall Street estimates and also issued a strong guidance. Adjusted earnings were $0.18 per share, compared to breakeven per share last year. Revenues improved 11% to $192.3 million from $172.5 million a year ago. Analysts expected earnings of $0.12 per share on revenues of $189.56 million. Moving ahead, the company expects adjusted earnings of $0.56 to $0.60 per share and revenues of $767 million to $770 million. Analysts currently estimate earnings of $0.50 per share and revenues of $765.11 million.

Pedevco Corp. (PED) - Shares of the company surged 73% on Wednesday after the bell. Pedevco delivered an open letter to the SandRidge Permian Trust, its Unit Holders, and the operator of its assets regarding an indication of interest to acquire the SandRidge Permian Trust and underlying assets.

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Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule. The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday. Google parent Alphabet decided to drop its Internet balloon project Loon that was launched with the idea of providing Internet access to rural areas and providing last mile connectivity. In a blog post, Loon CEO Alastair Westgarth said they have not found a way to get the costs low enough to build a long-term, sustainable business, despite gaining a number of interested partners along the way. American Airlines announced the launch of Flagship Cellars, its home delivery service for premium wines usually available onboard. The airline's move is said to be due to the excess wine it has amid the weakness in air travel demand following the coronavirus pandemic crisis. The company expects the new at-home wine program to generate about $40,000 to $50,000 in sales during the first quarter.
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