After-hours buzz: PIR, HBI & AERI
Check out the companies making headlines after the bell:
Shares of Pier 1 (NYSE: PIR) dropped 4 percent in extended trading Wednesday after the company gave weak guidance for its fiscal first quarter. The home furnishings and decor retailer projected a loss of 3-7 cents per share, while a loss of 2 cents per share was expected by analysts for its current quarter, according to Thomson Reuters consensus estimates. The company reported earnings slightly above expectations at 34 cents per share versus 33 cents per share expected by analysts, according to Thomson Reuters consensus estimates. Revenue was reported in-line with analysts expectations at $528 million for the fourth quarter.
Hanesbrands (NYSE: HBI) shares flew 7 percent after the company released preliminary first-quarter earnings results above expectations. The company reported a projection for adjusted earnings at 28-29 cents per share, while 28 cents per share was expected by analysts according to Thomson Reuters consensus estimates. Revenue, in the preliminary report, was listed as $1.38 billion for the quarter, above analysts estimates of $1.39 billion, according to to Thomson Reuters consensus estimates The earnings release is scheduled for May 2, 2017. The company also announced that its CFO Richard D. Moss will retire at the end of 2017, and a plan for his replacement is underway.
Shares of Aerie Pharmaceuticals (NASDAQ: AERI) sank 3 percent after the company reported positive topline safety and efficacy results for rhopressa. The pharmaceutical company focusses on the treatment of glaucoma and other diseases of the eye. According to an Aerie press release, the company had successful results for the Rocket 4 Phase 3 clinical trial for the eye drop medicine. Rhopressa was "tested for its ability to lower intraocular pressure (IOP) in patients with glaucoma or ocular hypertension."
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