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Tyson Foods Inc. shares are up 4.4% in premarket trading after after meat company reported first-quarter earnings that exceeded expectations and the company raised its earnings guidance. Tyson had net income of $461 million, or $1.15 per share, for the first quarter, up from $310 million, or 74 cents per share last year. Adjusted earnings were also $1.15 per share. The FactSet consensus was 89 cents per share. Sales totaled $9.2 billion versus $10.8 billion last year. The FactSet consensus was $10 billion. Tyson said sales in the chicken segment were $2.6 billion, down from $2.8 billion last year. The FactSet consensus was $2.7 billion. Sales in the beef segment were $3.6 billion against $4.4 billion last year. The FactSet consensus was $4.3 billion. Pork segment sales were $1.2 billion versus $1.5 billion last year. The FactSet consensus was $1.4 billion. And the prepared foods segment had sales of $1.9 billion, down from $2.1 billion last year. The FactSet consensus was $2.1 billion. On Feb. 4, Tyson’s board approved an addition 50 million share buyback. For fiscal 2016, the company expects domestic protein production to increase 2% to 3% year-over-year, which could put pressure on pricing. The company sees sales of $37 billion, down from $41 billion. The FactSet consensus is $39.8 billion. But the company is raising its earnings outlook to $3.85 to $3.95 per share from previous guidance of $3.50 to $3.65. The FactSet consensus is $3.62. Tyson shares are up 29.8% for the past 12 months while the S&P is down 7.1% for the same period.

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Estee Lauder Companies Inc. reported Friday fiscal second-quarter earnings that rose to $446.2 million, or $1.19 a share, from $435.7 million, or $1.13 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.22, beating the FactSet consensus of $1.11. Sales increased 3% to $3.12 billion, above the FactSet consensus of $3.08 billion, as better-than-expected makeup, fragrance and hair care sales offset a slight miss in skin care. The beauty products company said it expects fiscal third-quarter adj. EPS of 55 cents to 58 cents and sales growth of 2% to 3%, compared with a FactSet consensus EPS estimate of 76 cents and sales estimate of $2.65 billion, which implies 2.5% growth. For the full fiscal year, adjusted EPS is expected to be $3.07 to $3.12, below the FactSet consensus of $3.18. “”While economic and geopolitical volatility creates challenges, the balance and diversity of our brand portfolio, distribution channels and markets mitigate reliance on any one part of our business,” Chief Executive Fabrizio Freda said. The stock, which was still inactive in premarket trade, has gained 0.3% over the past three months while the S&P 500 has lost 8.8%.

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Outerwall Inc. shares fell after the bulk of the kiosk operator’s outlook fell below Wall Street estimates and movie rentals declined. Outerwall shares dropped 17% to $27. Outerwall reported adjusted fourth-quarter earnings of $1.43 a share on revenue of $527.2 million, while analysts surveyed by FactSet were forecasting 68 cents a share on revenue of $512.3 million. The company said that movie rentals from its Redbox kiosks fell 24.3% in the fourth-quarter from the year-ago quarter. Outerwall forecast adjusted 2016 earnings of $5 to $6.30 a share, while analysts are looking for $5.91 a share.

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Shares of Splunk Inc. and other next-generation cloud-software providers declined in the extended session Thursday after Tableau Software Inc.’s license revenue growth slowed. Splunk shares fell 12% to $41, as Tableau shares plummeted 46% to $44.60 after hours. While Tableau earnings and revenue topped Wall Street expectations for the fourth quarter, its license revenue growth slowed from the previous quarter, rising 31% on a year-over-year basis compared with a 57% jump in the third quarter. After hours, shares of Qlik Technologies Inc. fell 8%, Workday Inc. shares were down 7%, and Salesforce.com Inc. shares declined 5%.

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Qorvo Inc. late Thursday said Chief Operating Officer Steven Buhaly will resign at the end of the year. Until his retirement, Buhaly will assist the company in the selection of his successor. Buhaly was CFO at TriQuint Semiconductor Inc. which merged with RF Micro Devices Inc. to become Qorvo. The chip company earlier reported adjusted earnings of $1.03 a share in the third-quarter. Shares were up 1% in the after-hours session.

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WASHINGTON (MarketWatch) – The U.S. economy will work through the latest market selloff and “regain its footing” said Cleveland Fed President Loretta Mester on Thursday. In a speech in New York, Mester said the drop in stock and oil prices do pose “some risk” to the economic outlook but said she thought it was premature to change her forecast. Last month, Mester projected U.S. growth would be at an above-trend pace in the 2.5% to 2.75% range. “My current view is that economic conditions will evolve in a way that will warrant rates moving up gradually over time to more normal levels,” she said. Mester is a voting member of the Fed’s policy committee this year.

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Hanesbrands Inc. shares dropped in the extended session Thursday after the apparel maker’s quarterly results and outlook fell short of Wall Street expectations. Hanesbrands shares fell 12% to $25.90 after hours. The company reported fourth-quarter earnings of 44 cents a share on revenue of $1.41 billion. Analysts surveyed by FactSet had estimated 46 cents a share on revenue of $1.53 billion. Hanesbrands forecast adjusted 2016 earnings of $1.85 to $1.91 a share on revenue of $5.8 billion to $5.9 billion, while analysts expect $1.90 a share on revenue of $6.03 billion.

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Shares of Tableau Software Inc. sank in Thursday’s extended session after the business software maker swung to a quarterly loss. Tableau Software reported a fourth-quarter loss of $41.3 million, or 57 cents a share, compared with a profit of $20.7 million, or 27 cents a share, in the same quarter last year. On an adjusted basis, the company would have earned 33 cents a share. Revenue jumped 42% to $202.8 million. Analysts surveyed by FactSet had forecast adjusted earnings of 16 cents a share on revenue of $201 million. Tableau shares tanked 38% in after-hours trading.

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