The latest Federal Reserve meeting minutes raised some concerns such as low inflation, but stocks were higher in the U.S. on Wednesday. The S&P 500 Index gained 0.6%, the Dow Jones Industrial Average surged 0.4% and the Nasdaq Composite rose 0.8%.
Several companies made headlines for better or worse late on Wednesday, including Intel Corporation (NASDAQ:INTC), Rite Aid Corporation (NYSE:RAD) and Zumiez Inc. (NASDAQ:ZUMZ).
Here’s how they did:
Intel Corporation (INTC)
Intel could be in trouble over a fault in the company’s chip technology.
The software and hardware manufacturer was mentioned in a report that discovered a flaw in its chips, which are reportedly vulnerable to hackers. The report raised concern on the integrity of the company.
Cybersecurity continues to be a problem for plenty of top dogs in the tech industry, and Intel is no different, as The Register found that a bug lets some software enter parts of a computer’s memory, including passwords.
The flaw is reportedly apparent in all computers with Intel chips from the past 10 years, according to the report. Patches to Windows and OS X systems will be needed to fix it, which could slow down older computers by as much as 30%.
INTC stock fell 0.9% after hours Wednesday.
Rite Aid Corporation (RAD)
Rite Aid had a rough afternoon, despite the company’s earnings beat.
The stock took a dip as the pharmacy operating chain posted a profit of eight cents per share for its third quarter, or less than one cent per share on an adjusted basis. Analysts were calling for an adjusted loss of two cents per share.
The unadjusted figure was up significantly from the year-ago mark of a penny per diluted share thanks in part to the ongoing sale of the company’s nearly 2,000 stores to Walgreens Boots Alliance Inc (NASDAQ:WBA).
Revenue for the period came in at $5.4 billion for Rite Aid, a 5.6% dip compared to the year-ago quarter. The company’s Retail Pharmacy Segment revenues were $4 billion, slipping 3% year-over-year.
In the company’s Pharmacy Services Segment, revenue declined 12.2% year-over-year to $1.4 billion. Same-store sales from continuing operations fell 2.5% year-over-year for Rite Aid.
RAD shares fell by 5.2% after the bell.
Zumiez Inc. (ZUMZ)
Zumiez had a good hump day on the company’s December sales report.
The teen apparel, footwear and equipment retailer announced that the total net sales for the five-week period ended Dec. 30, 2017 were 11.4% higher year-over-year, coming in at $160.0 million.
Zumiez added that its comparable sales were better by 7.9% compared to the year-ago mark, which was also better than the December 2016 gain of 3.4% compared to the December before that.
Part of the reason why the company succeeded was stronger than expected quarter-to-date sales, plus a positive product margin performance, prompting the retailer to raise its guidance for fiscal 2017 and its fourth quarter.
The company’s fourth-quarter comparable sales are now slated to grow by roughly 7%, with earnings per share in the range of 88 cents and 90 cents per share for the period.
The previous guidance called for comparable sales growth of 3% to 5%, while earnings per share where slated to be in the range of 78 cents to 84 cents per share.
ZUMZ shares skyrocketed 17.3% after hours on Wednesday.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.