Paychex shares lose ground after hours
LOS ANGELES (MarketWatch) -- Shares of
Paychex (PAYX) shares were off 1.9% at $31.31 in choppy trading after the company said fiscal fourth-quarter total revenue was $551.5 million. Sales were up 6% from $522.7 million a year ago, but were lower than the $557.6 million expected by analysts polled by FactSet.
Earnings of 34 cents a share for the most recent period matched Wall Street's expectations, and were up by a penny a share from a year ago.
Paychex's shares heading into the late-trading session rose 0.5%, bringing their gain to 6% over the past year. Stock in rival
In the regular session, U.S. stocks extended gains into a second day after better-than-expected domestic economic data and a respite from headlines from troubled Europe ahead of a two-day gathering of European leaders in Brussels. Read more about U.S. stocks in Market Snapshot.