Take a look at the companies making headlines in after-hours trading: Robinhood – The retail brokerage added 4.5% after the company announced a $1 billion stock buyback program. Robinhood management expects to roll out the program over a two- to three-year period, starting in the third quarter of 2024, according to a press release. Cava Group – The stock fell 5% in after-hours trading, despite the restaurant chain posting first-quarter profits and revenue that significantly exceeded expectations. Cava reported earnings of 12 cents per share on revenue of $259 million, while analysts surveyed by LSEG expected earnings of 4 cents per share on revenue of $246 million. Cava shares hit a 52-week high earlier Tuesday. Box – The cloud storage company added 1.2% on better-than-expected earnings and revenue. Box reported adjusted earnings of 39 cents per share, while analysts polled by LSEG expected earnings of 36 cents per share. Revenue came in at $264.7 million, exceeding expectations of $262 million for the quarterly period. Microchip Technology – Shares of Microchip fell 2.8% after the company announced it plans to raise $1.1 billion of convertible senior notes due 2030 in a private offering, subject to market conditions and other factors. American Airlines — The airline fell more than 6%. American Airlines lowered its sales outlook in the second quarter. The company also expects adjusted earnings of $1 to $1.15 per share for the period, compared with prior expectations of $1.15 to $1.45 per share, according to a filing with regulators. The updated outlook for adjusted earnings is also below FactSet’s consensus expectations of $1.30 per share. United Airlines – Shares fell 2% after the airline issued an update on its financial outlook. United said it continues to expect adjusted diluted earnings for the second quarter of 2024 to be between $3.75 and $4.25 per share, according to a regulatory filing. — CNBC’s Darla Mercado contributed reporting.
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Stocks that make the biggest moves after hours: AAL, HOOD, BOX
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