After a volatile day of trading on Wednesday several shares were in play after-hours, and the direction of travel was...lower.
Victoria's Secret owner L Brands Inc (NYSE:LB) shares sank 6.83% lower to $36.85 after hours as the company disappointed with second quarter earnings.
The retailer, also known for its Bath & Body Works range, beat consensus earnings and revenue estimates , but lowered guidance and posted weak same-store sales comparisons.
The firm is forecasting third quarter EPS (earnings per share) of between $0.25 and $0.30 compared to $0.36 consensus, and full year 2018 EPS of between $3.00 and $3.20 versus $3.22 consensus.
L Brands stock price target cut to $45 from $50 at Wells Fargo
— kyookine (@kyookine) 17 August 2017
Meanwhile, to technology, and Cisco Systems Inc (NASDAQ:CSCO) shares lost 2.13% to $32.34 after hours as the IT group reported underwhelming fourth-quarter earnings.
While the company beat revenue estimates and matched earnings expectations, its revenue has now declined for seven consecutive quarters.
Elsewhere, Synopsys Inc (NASDAQ:SNPS ) shares shed 1.38% to $79.09 as the electronic design and automation firm reported earnings of 75 cents per share on revenues of $695.4 million for its third quarter.
Meanwhile, Chinese e-commerce giant Alibaba (NASDAQ:BABA) gained 5.5% to $159.50 ahead of its earnings due today.