JCPenney shares rose as much as 8 percent after hours as the company announced its same-store comparable sales decreased 3.5 percent during the holidays. It also said it expects to “generate positive free cash flow in fiscal 2018, reduce inventory in excess of $225 million or 8% and expects to end the year with liquidity in excess of $2 billion.”
Skyworks Solutions shares rose 3 percent after the company updated its first quarter 2019 guidance. It lowered revenue projections to $970 million from $1 billion. It also lowered earnings per share guidance to a range of $1.81 to $1.84 per share, from an estimated $1.91 per share.
H&R Block shares rose as much as 2 percent during after hours trading. The U.S. government has said it will still distribute federal income tax refunds despite the government shutdown. The government has been shut down since December 22 as President Donald Trump and Congress engage in a standoff over funding for a wall along the U.S.-Mexico border. Over 800,000 federal employees are either furloughed or working without pay.
MetLife was briefly down as much as 7 percent during after hours trading Tuesday, but the company later regained those losses and traded slightly positive.
Earlier in the day, the company announced that Steve Kandarian will retire as president and CEO on April 30. Michel Khalaf, the president of MetLife’s U.S., European, Middle East and African businesses, will succeed Kandarian as CEO and president. Glenn Hubbard will serve as non-executive chairman.
