It was a dismal day for U.S. equities as the dollar weakened and energy stocks fell 1.2%. The S&P 500 Index and Dow Jones Industrial Average each declined 0.6%, while the Nasdaq Composite gave back 0.5% Wednesday.
Several companies made headlines after hours, including Mattel, Inc. (NASDAQ:MAT), NetEase Inc (ADR) (NASDAQ:NTES) and RH (NYSE:RH).
Here’s how they did:
Mattel, Inc. (MAT)
Mattel announced that it would not be the subject of a takeover.
Hasbro, Inc. (NASDAQ:HAS) proposed a merger between the two toy companies, but Mattel rejected the company’s offer, which would’ve resulted in the largest toymaker in the U.S.
Mattel also said that Hasbro undervalued the company, according to people familiar with the situation who did not disclose their identity. The company also wondered if such a move would raise antitrust considerations.
Mattel investor Jerome Dodson said that he hoped the company wouldn’t sell for less than $22 to $25 a share, which marks a premium of at least 20% over its closing price on Wednesday.
Hasbro proposed the merger following a sharp sales decline during its last quarter. The company recently suspended its dividend.
MAT shares fell 1.6% after the bell.
NetEase Inc (ADR) (NTES)
NetEase posted its third-quarter results late Wednesday.
The company reported strong earnings as it heads closer to the end of fiscal 2017, earning $3.43 per share on an adjusted basis, topping the analyst projection of $2.77 per share.
Revenue for the period was also strong at $1.9 billion, ahead of the Wall Street consensus estimate of $1.89 billion. It was a 35.5% increase compared to the year-ago mark.
NetEase’s online game services yielded net revenues of $1.2 billion, which marked a 23.5% surge year-over-year. Advertising services net revenues grew 12.1% to $94.9 million.
From the company’s e-mail, e-commerce and other net revenues, it rakes in $561.3 million, rising a whopping 79.5% compared to the year-ago quarter.
NTES stock edged 0.5% higher after hours.
RH (RH)
Restoration Hardware updated its guidance for its third quarter.
The company now expects its adjusted net revenues to be around $592.3 million, marking an 8% gain compared to the year-ago revenue of $549.3 million, with Hurricanes Harvey and Irma causing a 1% decline in this figure.
Restoration Hardware’s previous guidance called for revenue in the range of $575 million to $590 million. Adjusted net income is slated to be between $24 million and $25 million.
A year ago, the company earned $8 million, and its previous guidance called for an adjusted net income in the range of $16 million to $19 million. This means earnings will be in the range of $1.02 to $1.04 per share.
A year ago, RH earned 20 cents per share, plus its previous guidance called for adjusted diluted earnings of 68 to 80 cents per share.
RH stock soared 16.2% after Wednesday’s market close.
