After the market close, results came in from Salesforce.com Inc (NYSE:CRM) and Intuit Inc (NASDAQ:INTU), and both mildly disappointed.
Customer relations management software giant Salesforce saw its shares dip 0.6% in after-hours trading to US$92,43, despite a rise in second quarter earnings per share to 33 cents, versus 24 cents the year before and the Street's expectations of 32 cents.
Accountancy software leviathan Intuit eased 0.9% in sCreen-based trading to US$136.91 despite earnings per share of 20 cents beating the consensus forecast by three cents.
Harsher reactions were saved for earnings update from furniture maker La-Z-Boy and lighting product maker Cree.
La-Z-Boy Incorporated (NYSE:LZB) slumped 16% to US$26.30 in sCreen-based trading as it reported fiscal first quarter earnings per share of 24 cents, down from 28 cents a year earlier and well below the 29 cents analysts had been expecting.
Like-for-like sales for the La-Z-Boy Furniture Galleries network were up 0.7% year-on-year.
Cree Inc (NASDAQ:CREE) tumbled 9.2% to US$20.91 after it reported a sharp fall in fiscal fourth quarter earnings.
Net income of US$3.83mln was down from US$18.92mln in the corresponding period of last year. Earnings per share of four cents were in line with the market's forecasts but down from 19 cents a year earlier.
Revenue for the quarter was 7.6% lower than a year earlier at US$358.94mln.
Also getting clobbered was Ultragenyx Pharmaceutical Inc (NASDAQ:RARE), which was marked down 13% to US$7.84 after it reported a late-stage clinical trial for its severe muscle disease treatment did not reach its goals.