After-hours buzz: KB Home, Bed Bath & Beyond, Boeing & more

Finance news

Check out the companies making headlines after the bell:

Shares of KB Home jumped 2 percent in extended trading Tuesday following the release of the homebuilder’s mixed first-quarter earnings. KB Home posted earnings per share of 31 cents on revenue of $811.5 million. Wall Street estimated earnings per share of 26 cents on $831.8 million, according to Refinitiv.

KB Home’s results come after weak housing data released earlier Tuesday. Developers broke ground for single-family homes at the slowest pace in over 18 months in February.

Bed Bath & Beyond shares continued to move upward in extended trading Tuesday after closing up more than 22 percent on news that three different activist investors plan to replace its entire 12-person board. Legion Partners Asset Management, Macellum Advisors and Ancora Advisors are trying to use their combined 5 percent stake to vote out the other members, according to a person familiar with the situation.

Shares of Boeing sunk as much as 2 percent in extended trading Tuesday on news that a Southwest Airlines Boeing 737 Max declared an emergency, turned around and landed back in Orlando, citing engine issues. The FAA said the engine problem was unrelated to the issues that prompted the administration to ground the planes after two deadly crashes.

Shares of JCPenney ticked higher after the market close on Tuesday. The retailer announced Bill Wafford as the new chief financial officer and executive vice president. Wafford, who previously worked for The Vitamin Shoppe, KPMG, and Wallgreens Boots Alliance, is succeeding Michael Fung.

Shares of Ollie’s Bargain Outlet fell more than 3 percent after the retailer posted disappointing profit forecast and fourth-quarter revenue. For fiscal 2019, Ollie’s said it sees adjusted net income per share between $2.10 and $2.15 on net sales between $1.44 billion and $1.45 billion. Analysts polled by Refinitiv had projected full-year earnings of $2.15 per share on $1.45 billion in revenue.

The company reported fourth-quarter earnings of 71 cents per share, 1 cent higher than analysts polled by Refinitiv expected. Revenue was $393.9 million, compared to Refinitiv estimates of $398.3 million.

CNBC’s Nadine El-Bawab contributed to this report.

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