A drumline plays 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 headlines after the bell.
Take-Two Interactive – Video game stock fell 3% in extended trading even after the company reported higher-than-expected revenue for the third fiscal quarter. Take-Two had sales of $ 814 million for 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. That price is a 36% premium over Glu’s closing price of $ 9.19 per share on Friday. EA shares rose more than 1% in the news. Glu shares were stopped trading after hours before moving to the offer price. “Mobile continues to grow as the world’s largest gaming platform, and with the addition of Glu games and talent, we are doubling the size of our mobile business,” Andrew Arts, CEO of Electronic Arts, said in a statement. The agreement will be concluded in the second quarter of 2021.
Chegg – Chegg shares rose 4.6% on stronger-than-expected fourth-quarter results for the education company. Chegg earned an adjusted 55 cents a share with $ 205.7 million in revenue. 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 transactions 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 ArcelorMittal shareholder.
– Rich Mendez from CNBC contributed to this story.