Hershey—The chocolate maker cut its 2015 forecast, based on chocolate sales growth in China that did not meet its expectations. Hershey expects adjusted full-year earnings of $4.10 to $4.18 per share, compared to consensus estimates of $4.31. Hershey also announced a series of productivity initiatives as well as some changes in its global leadership team.
Red Hat—The provider of Linux software reported adjusted quarterly profit of 44 cents per share, 3 cents above estimates. Revenue also beat forecasts, although its growth in future orders slowed from the prior year.
Smith & Wesson—The company beat estimates by 10 cents with adjusted quarterly profit of 45 cents per share, with revenue also above Wall Street forecasts. However, the gun maker’s full-year outlook is largely below analyst forecasts, with handgun demand slowing back to more normal levels after a jump in recent years.
State Street—State Street received a Wells Notice, indicating a possible SEC enforcement action. The case is related to retirement plans for public employees.
ConAgra—Jana Partners has taken a 7.2 percent stake in the company, saying the food maker’s shares are undervalued, and it’s planning to nominate three directors to the ConAgra board.
Gilead Sciences—China has turned down a patent application related to Gilead’s hepatitis C drug Sovaldi, according to a U.S.-based advocacy group.
Amgen—The biotech firm said its Vectibix cancer drug met its primary goal in a late stage study, involving colorectal cancer patients whose illness had not responded to chemotherapy.
Post Holdings—The company best known for its cereals lowered its estimate of the impact of avian flu on its egg supply, following a new round of testing of its chicken flock.
American Express—American Express has stopped prohibiting merchants from steering customers toward rival cards, after a judge ruled that the practice was anti-competitive.
Martha Stewart Living Omnimedia—The company is close to a sale, according to Dow Jones. The buyer will reportedly be retail licensing company Sequential Brands