IBM, Seagate, Ford & more
Pedestrians walk in front of the IBM building in New York.
Scott Mlyn | CNBC
Check out the companies that are making headlines after the bell:
IBM – IBM stocks fell more than 6% in the expanded session after the company reported fourth-quarter revenue that was below analysts’ expectations. Sales were down 6% on an annualized basis, the fourth straight quarter of declines, according to a statement.
Ford – The American automaker’s shares fell 2.2% after the company announced in a government motion that it would conduct a field service to replace Takata airbag inflators in certain 2006-2012 model years. The company expects this to impact about 2.7 vehicles in the US
CSX Corp. – CSX fell 0.25% from overall results, which beat analysts’ expectations. However, a closer look at the numbers showed that the railroad’s costs were falling faster than its revenues. Sales of $ 2.83 billion exceeded expectations, although investors are closely watching forecasts for the rest of the year.
Seagate Technology – Seagate stock fell 4.6% despite second quarter earnings and revenue above expectations and projections for the third quarter, which were roughly in line with estimates. Seagate said it has seen “broad improvement” and “solid customer demand” for its products.