Electronic Arts performs a drumline at the EA Play event at E3 in Los Angeles, California.
Here’s a look at some companies making headlines after Bell
Take-Two Interactive – Video game stock slipped 3% in expanded trading even after the company reported higher-than-expected revenue in its fiscal third quarter. Take-Two sold $ 814 million for the period, while analysts polled by Refinitive expected revenue of $ 747 million. Take-Two’s earnings-per-share numbers did not compare to Wall Street estimates.
Electronic Arts – The video game giant announced on Monday that it would acquire mobile-games developer Glu Mobile for $ 2.1 billion, or $ 12.50 per share. This price represents a 36% premium to Glu’s closing price at $ 9.19 per share on Friday. EA’s shares rose more than 1% on the news. Glu shares were halted in trading hours before jumping towards the offer price. “Mobile is developing as the world’s largest gaming platform, and with Glu’s games and talent, we are doubling the size of our mobile business,” Electronic Arts CEO Andrew Wilson wrote in a statement. The deal is expected to close in the second quarter of 2021.
Chegg – Chegg shares rose 4.6% over the fourth-quarter strong results for the education company. Chegg earned an adjusted 55 cents per share on $ 205.7 million in revenue. Analysts polled by Refinitive were looking for 49 cents per share and $ 189.6 million in revenue.
Cleveland-Cliffs – Steel stock rose 3% after the company was announced. The offering includes 20 million shares of the company and 40 million shares of shareholder ArcelorMittal.
– Rich Mendez of CNBC contributed to this story.