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NetApp Inc. shares declined in the extended session Wednesday after the storage and data management company announced layoffs and forecast an earnings outlook that fell short of Wall Street estimates. NetApp shares declined 2.8% to $22.90. The company forecast adjusted fiscal fourth-quarter earnings of 55 cents to 66 cents a share on revenue of $1.35 billion to $1.5 billion. Analysts surveyed by FactSet had estimated 72 cents a share on revenue of $1.45 billion. For the fiscal third quarter, NetApp reported adjusted earnings of 70 cents a share on revenue of $1.39 billion. Analysts had forecast 68 cents a share on revenue of $1.44 billion. In a separate filing, NetApp said it will cut its workforce by 12% by the end of 2017’s fiscal first quarter.

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Nvidia Corp.’s stock shot up 8.8% in after-hours trade Wednesday, after the graphics chip company beat fiscal fourth-quarter profit and sales expectations, and provided an upbeat sales outlook. For the quarter ended Jan.31, earnings came to $207 million, or 35 cents a share, compared with $193 million, or 35 cents a share, in the same period a year ago. Excluding non-recurring items, such as one-time restructuring charges, adjusted earnings per share were 52 cents, beating the FactSet consensus of 32 cents. Revenue climbed to $1.4 billion from $1.31 billion, above the FactSet consensus of $1.31 billion. For the current quarter, the company expects revenue of $1.26 billion, plus or minus 2% ($1.234 billion to $1.285 billion), compared with the FactSet consensus of $1.23 billion. “Nvidia is at the center of four exciting growth opportunities — PC gaming, VR, deep learning, and self-driving cars,” said Chief Executive Jen-Hsun Huang. “We are especially excited about deep learning, a breakthrough in artificial intelligence algorithms that takes advantage of our GPU’s ability to process data simultaneously.” The stock had run up 24% over the past three months through Wednesday’s close, compared with an 8.3% decline in the S&P 500.

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Marvell Technology Group Ltd. shares were halted in the extended session Wednesday just before the semiconductor company said it had settled a patent infringement lawsuit with Carnegie Mellon University. Marvell shares were halted at $9.30. The company said it settled with Carnegie Mellon for $750 million with no ongoing royalty payments. Marvell noted the university had been awarded $1.54 billion back in 2012, and that as of Jan. 30, it had more than $2.3 billion in cash and short-term investments and $388 million in litigation reserves.

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Jack in the Box Inc. late Wednesday reported its first-quarter earnings fell to $33.2 million from $35.8 million a year ago although on a per-share basis, profit rose to 92 cents a share from 91 cents. Excluding items, the fastfood chain would have earned 94 cents a share. Revenue edged up to $470.8 million from $468.6 million. Analysts polled by FactSet had expected earnings of $1.03 a share and revenue of $475 million. Systemwide same-store sales at its Jack in the Box locations grew 1.4% compared with 4.4% in the same period a year earlier while Qdoba Mexican Grill reported systemwide same-store sales slowed to 1.8% versus a 14% jump. The company forecast same-stores sales to fall 3% to flat growth at Jack in the Box company restaurants while same-store sales are expected in a range of flat to 3% growth at Qdoba company restaurants in the second quarter. Jack in the Box shares were halted pending release of its quarterly earnings after closing up 2.7% in the regular session.

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Oil futures ended sharply higher Wednesday, rallying despite a mixed message from Iran’s oil minister over a proposed production freeze by major producers. West Texas Intermediate crude for March delivery jumped $1.62, or 5.6%, to end at $30.66 a barrel. Iran’s oil minister didn’t commit to a production freeze after a meeting with some Organization of the Petroleum Exporting Countries counterparts, but praised a proposed freeze tentatively agreed upon a day earlier by Saudi Arabia and Russia.

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ABC Entertainment President Paul Lee resigned on Wednesday, according to initial reports from The New York Times. Lee, who brought the network hit shows such as “How to Get Away With Murder,” reportedly lost a power struggle with ABC Television Group Chairman Ben Sherwood. The Wall Street Journal reported the two had a tense relationship. Ratings at the Walt Disney Co.-owned network have dropped this season. Channing Dungey, who oversaw the networks drama programming, will succeed Lee. Dungey was instrumental in the success of shows such as “Scandal” and “Quantico,” and is the first African-American to head prime-time programming at a broadcast network, according to the Journal.

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Treasury yields continued to rise toward session highs Wednesday afternoon after briefly retreating following minutes from the Federal Reserve’s January meeting that were taken as slightly tilted on the dovish side. The minutes showed that the majority of Fed officials showed concern about stock market weakness and thought the central bank should hold off on a further rise in interest rates. Yields on all Treasury maturities lost about a basis point after the release, but remained higher on the day, amid a rally in risk assets, mainly stocks and oil, that led investors to sell government debt, pushing prices lower and yields higher. The yield on the 10-year Treasury note, the Treasury market’s benchmark, was up 6.5 basis points at 1.842%, while the yield on the 30-year Treasury was up 6.4 basis points to 2.705%. The 2-year Treasury yield was up 3.6 basis points to 0.758%. Treasury yields rise when prices fall and vice versa.

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Gold futures ended modestly higher Wednesday ahead of the release of minutes of the Federal Reserve’s January meeting, which may offer further clues to the central bank’s game plan for monetary policy. April gold was $3.20, or 0.3%, higher to settle at $1,211.40 an ounce. The minutes are expected to be released at 2 p.m. Eastern Time, about half an hour after metals trading on Comex close, but are likely to signal a slowing pace for future interest-rate raises–a boon to precious metals like gold that don’t offer a yield. The yellow metal’s climb occurred even as U.S. stocks were on track for a third day of advances Wednesday afternoon.

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President Barack Obama will meet Wednesday afternoon with former National Security Adviser Tom Donilon and former IBM Chief Executive Sam Palmisano on cybersecurity, the White House announced. Donilon and Palmisano are being appointed the chairman and vice chairman, respectively, of the Commission on Enhancing National Cybersecurity. The meeting comes as the federal goverment is ordering Apple Inc. to help the Justice Department unlock a phone used by a suspect in the San Bernardino, Calif. attack.

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