A drumline will perform at the Electronic Arts EA Play event at E3 in Los Angeles, California.
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Here’s a rundown of some of the companies that are making headlines after the bell.
Take-Two Interactive – Video game shares fell 3% in long-term trading, even after the company reported higher than expected earnings for the fiscal third quarter. Take-Two posted revenue of $ 814 million for the period, while analysts polled 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 Monday that it will acquire mobile game developer Glu Mobile for $ 2.1 billion, or $ 12.50 per share in cash. That price represents a 36% premium to Glu’s Friday closing price of $ 9.19 per share. EA shares were up more than 1% on the news. Glu shares were halted during out of hours trading before jumping towards the offer price. “Mobile continues to grow as the largest gaming platform in the world, and with the addition of Glu’s games and talent, we are doubling the size of our mobile business,” Andrew Wilson, CEO of Electronic Arts, wrote in a statement. The deal is expected to be completed in the second quarter of 2021.
Chegg – Shares of Chegg were up 4.6% thanks to better-than-expected fourth-quarter results from the education company. Chegg earned an adjusted 55 cents a 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 stock lost 3% in expanded trading after the company announced it had a secondary offering of 60 million shares. The offering includes 20 million shares of the company and 40 million shares of shareholder ArcelorMittal.
CNBC’s Rich Mendez contributed to this story.