Check out the companies making headlines in after-hours trading: Cleveland-Cliffs — The steel producer added 1.6%. Cleveland-Cliffs said it was lowering its outlook for capital expenditures and was on pace to hit its target for cost reductions. On the other hand, the company saw $5.09 billion in revenue for the second quarter, under the consensus estimate of $5.2 billion. Cadence Design Systems — The electronic design stock slipped 1.
The company also beat the consensus forecast from analysts on the measure for the second quarter, but slightly missed on revenue. NXP Semiconductors — The chip company slid 8% after second-quarter adjusted earnings missed the Street's expectations. NXP posted adjusted earnings of $3.20 a share, while consensus estimates came in at $3.21 per share, per LSEG. Revenue was in line with estimates at $3.13 billion. The company also issued a weaker-than-expected outlook.
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