A security personnel stands guard at the opening session of Baidu’s annual AI developers conference Baidu Create 2019 in Beijing, China, July 3, 2019.
Jason Lee | Reuters
Check out the companies making headlines after the bell.
Moderna — The biotech company’s stock fell 2% in extended trading after Moderna announced that it is proposing a public offering of $1.25 billion in shares of common stock. The company’s stock soared nearly 20% and hit a 52-week high earlier on Monday after Moderna announced that its potential Covid-19 vaccine produced coronavirus antibodies in all 45 participants in an early-stage human trial.
Baidu — The Chinese technology company’s stock rose 8% in extended trading after Baidu released its first-quarter earnings. The company said it had earnings of $8.84 per share on revenue of $22.55 billion, exceeding Wall Street’s expectations. Analysts polled by Refinitiv expected earnings of $4.00 per share on revenue of $21.93 billion.
Disney — Shares of the entertainment giant dropped 1% in extended trading after key announcements were made regarding the company’s leadership. Social media platform TikTok announced that Kevin Mayer, Disney’s head of streaming, will become its new CEO as well as chief operating officer of ByteDance, the Chinese company that owns TikTok. Mayer was considered to be a prime candidate to replace former Disney CEO Bob Iger, but the position ultimately went to Bob Chapek. Chapek previously served as chairman of Disney Parks, Experiences and Products and Disney announced Monday that he will be succeeded by Josh D’Amaro, who most recently served as president of Walt Disney World Resort.
T-Mobile — The wireless company’s stock dipped 3% in extended trading after news broke that SoftBank is selling part of its T-Mobile stake through a secondary offering. Morgan Stanley and Goldman Sachs will underwrite the offering, sources told CNBC. T-Mobile’s stock previously hit a 52-week high on Monday.
SmileDirectClub — Shares of the teledentistry company were up more than 1% in extended trading after SmileDirectClub announced that it filed a $2.8 billion lawsuit against NBCUniversal Media, the parent company of CNBC, about reporting by NBC News. The company said that NBC News made defamatory claims against SmileDirectClub on a “Nightly News with Lester Holt” report. It also claimed that as a direct result of the NBC News report, the company’s market cap plummeted by $950 million.
View original Post