Here’s a look at the companies making headlines in after-hours trading: Robinhood — The retail brokerage jumped 4.5% after announcing a $1 billion stock buyback plan. Robinhood management expects to execute the plan within two to three years, starting in the third quarter of 2024, a press release said. Cava Group — Shares of Cava Group fell 5% in after-hours trading despite the restaurant chain reporting first-quarter profit and revenue that significantly beat estimates. Cava reported earnings of 12 cents per share on revenue of $259 million, while analysts polled by LSEG expected earnings of 4 cents per share on revenue of $246 million. Cava shares hit a new 52-week high earlier Tuesday. Box — Shares of the cloud storage company rose 1.2% as earnings and revenue beat expectations. Box reported adjusted earnings of 39 cents per share, while analysts polled by LSEG expected earnings of 36 cents per share. Revenue for the quarter was $264.7 million, beating expectations of $262 million. Microchip Technology — Microchip shares fell 2.8% after the company announced plans to issue $1.1 billion in convertible senior notes due 2030 through a private placement, subject to market conditions and other factors. American Airlines — Shares of the airline fell more than 6%. American Airlines slashed its second-quarter sales forecast. The company also expects adjusted earnings of $1 to $1.15 per share in the period, compared with previous guidance of $1.15 to $1.45 per share, according to regulatory filings. The latest outlook for adjusted earnings was also below the FactSet consensus estimate of $1.30 per share. Shares of Delta Air Lines and United Airlines both fell about 2%. —CNBC’s Darla Mercado contributed reporting.
