Shares of Lululemon Athletica gained in extended trading after Lone Pine Capital disclosed a stake in the company, according to SEC filings. The hedge fund, run by industry insider Stephen Mandel, now beneficially owns 6,446,607 common stock of the retailer, known for its yoga apparel.
Drugmaker Allergan saw shares slide after-hours. The company’s deal to link up with Pfizer was compared in The Financial Times to a controversial tie-up between Johnson Controls and Tyco. The Johnson-Tyco deal was panned by Democratic presidential hopefuls Hillary Clinton and Bernie Sanders.
Swift Transportation shares bounced after hours after the company reported better-than-expected earnings. The trucking services company posted adjusted earnings of 53 cents a share, more than the guidance of $0.47 to $0.51. Swift attributed the boost to “strong operational execution, declining fuel prices, gains on sale of equipment, and a better than anticipated tax rate.”
Rambus’ stock popped after the closing bell after the semiconductor company said it had acquired mobile payments platform Smart Card Software. The company also reported an adjusted fourth-quarter net income of $20.7 million, a 24 percent year-over-year increase.
“The secure mobile payment and smart ticketing markets are growth opportunities,” Martin Scott, senior vice president and general manager of the Rambus Cryptography Research division, said in a statement.
Luxury fashion company Coach was dinged after the bell ahead of its earnings release Tuesday morning. The retailer, known for high-end handbags, has seen shares decline 19 percent over the past year afterseveral quarters of declining sales.
And Huntington Bancshares stock saw a spike in after-hours trading after The Wall Street Journal reported it might be in talks to acquireFirstMerit. The deal would combine two mid-size Ohio banks, theJournal said.
[“source -pcworld”]
