A “Sold” sign is displayed outside a home under construction at a Lennar Corp. development in Montgomery, Illinois.
Daniel Acker | Bloomberg | Getty Images
Check out the companies making headlines after the bell.
Lennar — Shares of the homebuilder whipsawed and fell 1% in extended trading after Lennar released its second-quarter financial results, which beat estimates. The company reported earnings of $1.65 on revenues of $5.29 billion, whereas analysts polled by Refinitiv had expected earnings of $1.18 on revenues of $5.25 billion. Lennar also reported that new orders are down 10% and the dollar value of those new orders is down 16%, but that business improved in May and the rebound has continued through the first half of June.
Nikola — The electric truck company’s stock fell 4% in after-hours trading before bouncing back to around its closing price after Nikola announced in an SEC filing the registration of shares and warrants stemming from its merger with VectoIQ that closed June 3. Recently the stock has been volatile due to popularity among speculative traders.
DocuSign — The electronic signature software company rose 1% in extended trading and hit a new 52-week high earlier on Monday. It was announced Friday that the company will replace United Airlines on the Nasdaq 100 index on June 22.
Moderna — The pharmaceutical company was down 1% after the closing bell. Israel is reportedly in talks to buy Moderna’s coronavirus vaccine, which is entering its final stage of testing, according to an Israeli news outlet.
Hertz — The car rental company’s stock fell 2% after the market closed. Hertz said in an SEC filing Monday that it plans to sell up to $500 million in common stock. However, the company, which is going through Chapter 11 proceedings, warned investors that this equity will likely be worthless unless those with higher priority in a bankruptcy, such as the company’s debtholders, are paid in full. Hertz warned that this is unlikely unless travel trends make a rebound amid the coronavirus pandemic.
Eldorado Resorts — Eldorado shares fell 1% after the closing bell after it released financial information ahead of its merger with Caesars Entertainment. Since its regional casinos reopened, Eldorado’s revenue is down 21% year over year but EBITDA is up 16% year over year, CNBC’s Contessa Brewer reported. Caesar’s regional revenue since reopening was flat to up 2% year over year. The disclosure looks promising as casinos reopen across the country. Shares of Wynn Resorts and MGM Resorts each rose 1% in after-hours trading.
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