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An employee works on a Whirlpool washing machine at the company’s operations plant in Clyde, Ohio.
AK Steel shares jumped more than 10 percent after hours, earning back its loses from the trading session. The stock was downgraded by Morgan Stanley earlier on Monday causing it to close down more than 3.5 percent. The steelmaker reported $1.68 billion in quarterly revenue, missing estimates of $1.70 billion. Earnings per share were 16 cents vs. the expected 11 cents. The company is down more than 48 percent over the last six months.
Shares of Sanmina surged more than 22 percent after market close Monday based on an earnings beat and strong second-quarter guidance. The electronics manufacturer posted $2.19 billion in revenue vs. the $1.90 billion estimated. Earnings per share were 83 cents, beating estimates by 12 cents.
Sanmina also announced that its chief financial officer, David Anderson, plans to retire after 17 years with the company.