Stocks making the biggest moves after hours: Tiffany & Co., L Brands, Uber & more

Finance

Brent Lewin | Bloomberg | Getty Images

Check out the companies making headlines after the bell:

Shares of Tiffany & Co. jumped 4% during extended trading after a Reuters report that French luxury goods maker LVMH raised its bid from $120 per share to approximately $130 per share, according to people familiar with the matter. LVMH and Tiffany have reportedly been in ongoing M&A discussions since October.

Victoria’s Secret parent company L Brands rose 4% in extended trading Wednesday after the company posted mixed third-quarter results. L Brands posted adjusted earnings per share of 2 cents on revenue of $2.68 billion, compared with Refinitiv consensus estimates of 2 cents EPS on revenue of $2.69 billion.

The company missed Wall Street estimates on same-store sales, posting a decline of 2% compared with the expected 1% decline.

Smart speaker maker Sonos saw its shares climb more than 2% after hours. The company delivered its fourth-quarter and full-year earnings and announced plans to acquire AI company Snips. The company posted fourth-quarter revenue of $294 million, while its full-year revenue came in at $1.26 billion.

PayPal also announced an acquisition after the market close on Wednesday, sending its shares down roughly 2%. The leading digital payment processor plans to buy Honey, an online deal platform, for approximately $4 billion. PayPal’s shares are up about 24% year to date.

Shares of Bristol-Myers Squibb rose more than 1% in extended trading after the company announced the completion of its acquisition of Celgene. Celgene’s shares also rose 1% following the news. Under the terms of the merger, Celgene shareholders will receive, for each share: 1 share of Bristol-Myers Squibb’s common stock, $50 in cash and one tradeable Contingent Value Right, which will “entitle the holder to receive a payment of $9.00 in cash if certain future regulatory milestones are achieved,” said Bristol-Myers Squibb in a release.

Uber shares rose more than 2% after CEO Dara Khosrowshahi disclosed in an SEC filing that he bought 250,000 of the company’s shares priced at $26.75 per share. Since its opening price of $42 per share in May, shares of the ride-hailing giant have declined roughly 33%.

Shares of Jack in the Box climbed nearly 3% despite the fast-food chain’s third-quarter earnings miss on the top and bottom line. The company reported earnings of 95 cents per share on revenue of $221.2 million, falling short of 96 cent EPS and revenue of $223 million analysts forecast, according to Refinitiv.

Products You May Like

Articles You May Like

U.S. market is ‘smoking dope on earnings’ and investors are likely to be disappointed, economist says
Stock futures rise slightly, headed for gains to finish out June
Rocky road ahead at Macy’s, potential ‘regional flare-ups,’ with Covid-19 cases surging in some states
Stimulus checks, back-to-work bonuses, bigger jobless benefits? What the next relief bill might look like
Think tank explains why it’s ‘pointless’ to delist Chinese companies from U.S. stock markets

Leave a Reply

Your email address will not be published. Required fields are marked *