A drummer performs at the Electronic Arts EA Play event at E3 in Los Angeles, California.
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Here’s a look at some of the companies that make news after the bell.
Take-Two Interactive: Video game shares fell 3% in expanded trading, even after the company reported higher-than-expected revenue for the third fiscal quarter. Take-Two recorded sales of $ 814 million during the period, while analysts surveyed by Refinitiv expected revenue of $ 747 million. Take-Two’s earnings per share were not comparable to Wall Street estimates.
Electronic Arts: Video game giant announced Monday that it will acquire mobile game developer Glu Mobile for $ 2.1 billion, or $ 12.50 per share in cash. This price represents a 36% premium over Glu’s closing price on Friday of $ 9.19 per share. EA shares rose more than 1% in the news. Glu shares stopped trading after hours before jumping to the offer price. “Mobile continues to grow as the world’s largest gaming platform, and with the addition of Glu’s games and talent, we’re doubling the size of our mobile business,” wrote Andrew Wilson, CEO of Electronic Arts. The deal is expected to close in the second quarter of 2021.
Chegg: Chegg shares rose 4.6% behind fourth-quarter results stronger than expected for the education company. Chegg earned 55 cents per share with revenue of $ 205.7 million. Analysts surveyed by Refinitiv were looking for 49 cents per share and revenue of $ 189.6 million.
Cleveland-Cliffs – Steel shares fell 3% in extended operations after the company announced it had a secondary stock offering of 60 million shares. The offer includes 20 million shares of the company and 40 million shares of the shareholder ArcelorMittal.
– CNBC’s Rich Mendez contributed to this story.