A drum line performs during 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 clock.
Take-Two Interactive – The video game stock declined 3% in extended trading, even after the company reported higher-than-expected fiscal third-quarter revenue. Take-Two generated $ 814 million in sales 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 – The video game giant announced on Monday that it will acquire mobile game developer Glu Mobile for $ 2.1 billion or $ 12.50 a share in cash. The price represents a 36% premium to Glu’s closing price on Friday of $ 9.19 per share. EA shares rose more than 1% with the news. Glu shares were discontinued in after-hours trading 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’d double the size of our mobile business,” Electronic Arts CEO Andrew Wilson said in a statement. The agreement is expected to close in the second quarter of 2021.
Chegg – Chegg shares rose 4.6% due to stronger-than-expected fourth-quarter results for the education firm. Chegg earned 55 cents a share on $ 205.7 million in revenue. Analysts surveyed by Refinitiv looked at 49 cents a share and $ 189.6 million in revenue.
Cleveland-Cliffs – Steel stocks increased 3% in long-term trading after the company announced it was holding a secondary share offering of 60 million shares. The offer contains 20 million shares of the company and 40 million shares of the shareholder ArcelorMittal.
– CNBC’s Rich Mendez contributed to this story.