A battery performs at the Electronic Arts EA Play event at E3 in Los Angeles, California.
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Here is a look at some of the companies that are making headlines after the bell.
Take-Two Interactive – Video game stocks fell 3% in extended trading, even after the company reported higher-than-expected revenue for its third fiscal quarter. Take-Two recorded $ 814 million in sales in the period, while analysts surveyed by Refinitiv expected revenue of $ 747 million. Take-Two’s earnings per share was not comparable to Wall Street’s 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. That price represents a 36% premium over Glu’s closing price on Friday of $ 9.19 per share. EA shares rose more than 1% on the news. Glu’s shares stopped trading after hours before jumping towards the offer price. “Mobile devices continue to grow as the largest gaming platform in the world and, with the addition of Glu’s games and talents, we are doubling the size of our mobile business,” wrote Electronic Arts CEO Andrew Wilson in a statement . The deal is expected to close in the second quarter of 2021.
Chegg – Chegg’s shares rose 4.6% due to stronger than expected fourth quarter results for the education company. Chegg earned 55 cents adjusted per share on $ 205.7 million in revenue. Analysts polled by Refinitiv were looking for 49 cents a share and $ 189.6 million in revenue.
Cleveland-Cliffs – Steel shares fell 3% in the trading period after the company announced it was making a secondary offer 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.