Pivotal Software Inc. shares rose in the extended session Tuesday after the cloud-computing company topped Wall Street estimates for the quarter. Pivotal Software shares advanced 4.2% after hours, following a 1.3% decline to close the regular session at $17.80 The company reported a third-quarter loss of $34.9 million, or 13 cents a share, compared with a loss of $39.3 million, or 57 cents a share, in the year-ago period. The adjusted loss was 5 cents a share. Revenue rose to $168.1 million from $129 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 8 cents a share on revenue of $164.1 million. For the fourth quarter, Pivotal expects a loss of 10 cents to 9 cents a share on revenue of $169 million to $171 million, while analysts had forecast a loss of 9 cents a share on revenue of $167.3 million.
The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 10.2 million barrels for the week ended Dec. 7, according to sources. The API data also showed that gasoline stockpiles fell by 2.5 million barrels, while distillate inventories climbed by 712,000 barrels, sources said. Inventory data from the Energy Information Administration will be released Wednesday. On average, analysts surveyed by The Wall Street Journal expect the EIA to report a decline of 2.8 million barrels in crude supplies. The survey also forecast supply increases of 1.8 million barrels for gasoline and 1.3 million barrels for distillates. January West Texas Intermediate crude was at $52.02 a barrel in electronic trading. That's up from the $51.65 settlement on the New York Mercantile Exchange.
Shares of Dave & Buster's Entertainment Inc. fell more than 8% in the extended session Tuesday after the company reported third-quarter earnings that beat Wall Street expectations and raised its outlook for the year, but comparable-store sales fell more than expected. Dave & Buster's said it earned $11.9 million, or 30 cents a share, in the quarter, compared with $12.2 million, or 29 cents a share, in the year-ago period. Revenue rose 13% to $282.1 million, the company said. Analysts polled by FactSet had expected GAAP and adjusted earnings of 24 cents a share on sales of $278 million. Comparable-store sales fell 1.3%. The analysts surveyed byFactSet had expected a decline around 0.7%. Dave & Buster's raised its 2018 guidance, saying it expects revenue between $1.24 billion to $1.26 billion, compared with a previous guidance of revenue between $1.23 billion and $1.26 billion and net income between $106 million and $113 million, versus previous expectations between $101 million and $111 million. Shares of Dave & Buster's ended the regular trading day down 2.8%.
American Eagle Outfitters Inc. shares dropped in the extended session Tuesday after the company's outlook and quarterly revenue fell short of Wall Street estimates. American Eagle shares fell 4.4% after hours, following a 2.5% decline to close the regular session at $19.03. The company reported third-quarter net income of $85.5 million, or 48 cents a share, compared with $63.7 million, or 36 cents a share, in the year-ago period. Revenue rose to $1 billion from $960.4 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 48 cents a share on revenue of $1.02 billion. For the fourth quarter, American Eagle expects earnings of 40 cents to 42 cents a share, while analysts had forecast 47 cents a share.
Bulls and bears fought to a draw on Tuesday, leaving the S&P 500 little changed at the end of a choppy session that saw major indexes flip between gains and losses. Stocks rallied in early action on optimism surrounding renewed U.S.-China trade talks, but lost altitude toward midday and then lost ground after President Donald Trump threatened a government shutdown over border-wall funding in a meeting with Democratic congressional leaders. Stocks then saw choppy action through the afternoon. The S&P 500 ended the day with a loss of less than 0.1% near 2,636.83, according to preliminary figures, while the Dow Jones Industrial Average fell around 53 points, or 0.2%, to end near 24,370. The Nasdaq Composite ended 0.2% higher near 7,032.