And finally, it was a busy after-hours session on Wednesday with Nuvasive (NUVA) playing the role of biggest loser. The San Diego-based medical device maker issued a weak revenue guidance and saw its shares drop nearly 27% on volume of more than 400,000.
The company said it now sees third-quarter revenue of $147 million vs. its prior projection for a flat performance from its second-quarter total of $154.4 million.
Also making headlines was Applied Materials (AMAT), which said it plans to cut its global workforce by 900 to 1,300 positions, or 6-to-9%, as part of its restructuring program. The chip maker said a voluntary retirement program would be part of the restructuring, and that it expects to record related charges of $180 million to $230 million. Shares saw a slight dip in the extended session.
Marriott International (MAR) was getting a boost after its third-quarter report with shares gaining nearly 2% in late trades. The hotel operator said it earned $143 million, or 44 cents a share, in the three months ended in September, ahead of Wall Street's consensus view of 40 cents.Revenue totaled $2.79 billion, also beating the average analyst forecast of $2.65 billion, with revenue per available room rising 6% worlwide and 7% in North America from year-ago levels. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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