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Tribune Publishing Co. shares were up 4.4% in Wednesday after-hours trading after it said it sent a letter to Gannett Co. Inc. rejecting its acquisition offer of $12.25 per share in cash. Gannett shares are unchanged in after-hours trading. Tribune says the company’s board “unanimously determined that Gannett’s opportunistic proposal understates the company’s true value and is not in the best interests of its shareholders,” the release said. In the letter, written by Chief Executive Justin Dearborn, he says the company stands behind its transformation strategy, which includes capitalizing on the “global potential of the L.A. Times.” Tribune Publishing shares are up 19.5% for the year to date while the S&P 500 is up 0.4% for the same period.

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Shares of Weight Watchers International Inc. rocketed 12% in after-hours trade Wednesday, after the weight management services company reported a narrower-than-expected first-quarter loss and raised its full-year profit outlook. For the latest quarter, losses widened to $10.3 million, or 17 cents a share, from $5.4 million, or 10 cents a share, in the same period a year ago. The FactSet per-share loss consensus was 18 cents. Revenue fell 4.7% to $306.9 million, missing the FactSet consensus of $308.9 million. Subscribers at the end of the quarter were 4.8% higher than a year ago, while total attendance at meetings increased 5.8%. The company raised its full-year 2016 earnings-per-share outlook to a range of 80 cents to $1.05 from 70 cents to $1.00, according to FactSet. “Our first quarter loss was smaller than we expected, and for the first time since 2012 we grew our total subscribers year-over-year, clearly demonstrating that our business is turning around,” said Chief Executive Jim Chambers. The stock had plunged 45% year to date through Wednesday’s close, while the S&P 500 gained 0.4%.

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From:: Stock Market News

Whole Foods Market Inc. shares jumped 3.7% in after hours trading Wednesday after third-quarter earnings beat expectations. The healthy food grocer said it had net income of $142 million, or 44 cents per share, down from $158 million, or 44 cents per share, for the same period last year. The FactSet consensus was 41 cents per share. Sales totaled $3.70 billion for the quarter, up slightly from $3.65 billion last year. The FactSet consensus was $3.74 billion. Same-store sales decreased 3%, exceeding the FactSet consensus of a 2% decline. The company now expects to be at or below its previous earnings per share and sales guidance for fiscal 2016. Whole Foods sees earnings per share up to $1.53, below the FactSet consensus of $1.55. And the company forecasts a 3% increase in sales, with previous guidance of $15.85 billion on the low end. The FactSet consensus is $15.95 billion. Whole Foods shares are down 14.9% for the year so far while the S&P 500 is up 0.4% for the same period.

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MetLife Inc. shares slumped 2% in after-hours trading Wednesday, after the insurance company missed profit and revenue estimates for its first quarter. The company said it had net income of $2.2 billion, or $1.98 a share, in the quarter, compared with $2.1 billion, or $1.87 a share, in the year-earlier period. Adjusted per-share earnings, which exclude derivative gains, came to $1.20 a share, below the FactSet consensus of $1.38. Revenue fell to $16.6 billion from $17.0 billion, also below the FactSet consensus of $17.1 billion. “While market headwinds remain, we experienced volume growth and underwriting results were solid,” Chief Executive Steven A. Kandarian said in a statement. “We continue to make good progress on our initiatives to maximize shareholder value, including expense control and the planned separation of a substantial portion of the U.S. retail business.” Shares are down about 9% in the year so far, while the S&P 500 has gained 0.5%.

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TripAdvisor Inc. shares dropped in the extended session Wednesday after the travel-booking website fell short of Wall Street estimates for the first quarter. TripAdvisor shares fell 6.9% to $58.75 after hours. The company reported adjusted first-quarter earnings of 32 cents a share on revenue of $352 million. Analysts surveyed by FactSet had estimated 46 cents a share on revenue of $370.6 million.

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Crude-oil futures eked out a modest gain Wednesday after trading in negative territory for much of the day as investors wrestled with a higher-than-expected build in inventories. West Texas Intermediate oil for June delivery , settled, 13 cents, or 0.3%, higher at $43.78 a barrel. The advance for crude came during an up-and-down session, which had been supported earlier by wildfires in oil-rich Alberta, Canada. The fires, which emerged late Tuesday, were forcing reductions in crude production in that region, which is supportive for oil prices.

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From:: Stock Market News