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Wendy’s Co. shares fell 5.1% in Wednesday premarket trading after the fast-food chain reported third-quarter earnings and revenue that missed consensus. Net income totaled $14.3 million, or 6 cents per share, down from $48.9 million, or 18 cents per share, for the same period last year. Adjusted EPS was 9 cents per share, missing the 12-cents FactSet consensus. Revenue totaled $308.0 million, down from $364.0 million last year and below the $310.0 million FactSet estimate. Wendy’s attributed the earnings and revenue declines to a few factors including the ownership of 249 fewer company-operated restaurants and a year-over-year decrease in franchise fees, resulting from “system optimization activity” including the sale of 156 company-operated restaurants. Same-restaurant sales rose 2% for the quarter, below the 2.3% growth FactSet forecast. Wendy’s sees full-year same-restaurant sales growth of about 2% to 2.5% for North America and adjusted EPS of 43 cents to 45 cents. The FactSet consensus is for same-restaurant sales growth of 2.1% and EPS of 46 cents. Wendy’s shares are up 32.4% for the last year while the S&P 500 index is up 21.1% for the period.

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Digital Ally Inc. shares jumped 19% in premarket trade Wednesday, after the video recording equipment and analytic software company said it is exploring its strategic alternatives including a possible sale of the company. The Lenexa, Kansas-based company said options include “monetizing its patent portfolio and related patent infringement litigation against Axon Enterprise, Inc. (“Axon,” formerly known as TASER International, Inc.) and Enforcement Video, LLC d/b/a WatchGuard Video (“WatchGuard”), the sale of the company as a whole, or the sale of select properties or groups of properties or individual businesses.” The company has retained Roth Capital as adviser and has already received several unsolicited inquiries involving a variety of possible deals. Shares have fallen 57% in 2017, while the S&P 500 has gained about 16%.

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Shares of Snap Inc. bounced to pare earlier sharp losses in premarket trade Wednesday, as the social media company’s disclosure that Tencent Holdings Ltd. took a large stake helped offset disappointing third-quarter results. The stock was down 9.1% in active premarket trade, but was down as much as 21.4% earlier. Volume was 7.8 million shares about two hours before the open, making it the most actively traded stock in the premarket. The Snapchat parent said in its quarterly filing with the SEC that Chinese technology giant Tencent and its affiliates acquired in November about 145.8 million Class A Snap shares, which represents about 17% of the Class A shares outstanding, or about 12% of the total shares outstanding. That would be enough to make Tencent the largest shareholder. Late Tuesday, Snap’s stock plunged reported a wider-than-expected loss and revenue that rose less than expected. Snap’s stock had closed Tuesday at $15.12, or down 38% from its first day of trade on March 2, and 11% below its IPO price of $17. In comparison, the Renaissance IPO ETF had gained 22% from March 2 through Tuesday, while the S&P 500 had climbed 8.8%.

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Shares of hydrogen fuel cell company Plug Power Inc. slumped 6.5% premarket Wednesday, after the company’s third quarter loss widened from the year earlier. Plug Power said it had a net loss of $41.0 million, or 18 cents a share, in the quarter, after a loss of $13.4 million, or 7 cents a share, in the year-earlier period. Adjusted for warrant related charges and other items, the company had a per-share loss of 4 cents, narrower than the 5 cents FactSet loss consensus. Revenue rose to $61.4 million from $17.6 million, ahead of the FactSet consensus for $56.3 million. The company said it made progress on bookings in the quarter with a total of nearly $160 million. It reiterated its bookings target for the year of $325 million, but said it is not without risk. “We need to maintain a high level of performance with Amazon and Walmart to close additional 2018 commitments in the fourth quarter, and attract additional customers to multi-site agreements,” the company said in a statement. “We will need our manufacturing teams to convert the bookings we have already made to orders, by the end of the year. ” Shares have gained 155% in 2017, while the S&P 500 has gained 16%.

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Sky PLC has hinted it may close down its Sky News operation if it impedes 21st Century Fox Inc.’s bid to take full control of the U.K. broadcaster. On Wednesday, Sky told the Competition Markets Authority that the regulator should not assume that Sky News will continue to compete against local rivals if the takeover goes ahead. “Sky would likely be prompted to review the position in the event that the continued provision of Sky News in its current form unduly impeded merger and/or other corporate opportunities available in relation to Sky’s broader business,” the media company said in a statement. In October, the CMA opened a probe into 21st Century Fox’s plans to buy the 61% of Sky it doesn’t already own, looking at the impact on U.K. media plurality. 21st Century Fox and News Corp., parent company of Dow Jones, share common ownership. The two companies, which split in 2013, each count the Murdoch family as a major shareholder.

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Democrat Ralph Northam has won the Virginia governor’s race, the Associated Press and NBC News projected Tuesday night, in what many analysts see as a rebuke to President Donald Trump. With more than 60% of the votes counted, Northam led Republican Ed Gillespie 51.7% to 47.2%. Gillespie, a Republican establishment candidate, was endorsed by Trump. Coming a year after presidential elections, the Virginia governor’s race is traditionally seen as a bellwether of voter sentiment toward the incumbent president. Meanwhile, the AP and CNN projected Democrat Phil Murphy to easily win the governor’s race in New Jersey over Republican Kim Guadagno, succeeding Chris Christie.

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A surprise visit by President Donald Trump to the Korean demilitarized zone was called off Wednesday due to bad weather. According to the Associated Press, Trump’s helicopter was almost at the DMZ when fog and poor visibility forced the trip to be aborted, and Trump returned to Seoul. White House press secretary Sarah Huckabee Sanders said Trump was disappointed. “I think he’s pretty frustrated,” she told reporters. The trip to the heavily fortified border with North Korea had not been announced, and in fact, last week the White House explicitly said he would not visit the DMZ. “It’s becoming a little bit of a cliché, frankly,” one White House official said. Trump is visiting South Korea as part of a 10-day Asian tour, and is scheduled to speak to South Korea’s National Assembly later in the day.

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Planet Fitness Inc. shares rose in the extended session Tuesday after the gym operator’s quarterly results and outlook topped Wall Street estimates. Planet Fitness shares rallied 6.3% to $27.20 after hours. The company reported third-quarter net income of $15.3 million, or 18 cents a share, compared with $3.4 million, or 8 cents a share, in the year-ago period. Adjusted earnings were 19 cents a share. Revenue rose to $97.5 million from $87 million in the year-ago period. Analysts surveyed by FactSet had estimated 16 cents a share on revenue of $93.6 million. For the year, Planet Fitness estimates earnings of 80 cents to 82 cents a share on revenue of $425 million to $430 million. Analysts had forecast earnings of 78 cents a share on revenue of $415.4 million.

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Shares of Coherent Inc. rose 8% late Tuesday after the Santa Clara, Calif., company reported fiscal 2017 fourth-quarter earnings and sales above Wall Street expectations. Coherent said it earned $74 million, or $2.96 a share, in the quarter, compared with $31 million, or $1.25 a share, in the year-ago period. Adjusted for one-time items, the company, which makes lasers and provides laser-based technology to several industries, earned $93 million, or $3.72 a share, compared with $41 million, or $1.65 a share, a year ago. Revenue rose to $490 million, compared with $249 million a year ago. Analysts polled by FactSet had expected adjusted earnings of $3.45 a share on sales of $475 million.

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