After Hours Summary: DIS heads lower -1.5% on report it will lay off 28,000 employees; MU -3.8% weak on earningsAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: SNX +4%, CMTL +3.8%, LAD +0.6% (also announces $700 mln share offering), SHW +0.3%
Companies trading higher in after hours in reaction to news: CVAC +8.6% (first participant dosed in a Phase 2a COVID trial), OII +8.5% (secures contract with Naval Sea Systems Command), CRDF +6.7% (stock offering), NKLA +3.7% (GM extends talks after fraud, sexual assault allegations surface, according to CNBC), MRNA +3.5% (announces publication in NEJM of interim results from older cohorts in Phase 1 study of COVID-19 vaccine), REGN +1.6% (announces REGN-COV2 antibody cocktail reduced viral levels in COVID-19 patients), NEE +1% (to acquire GridLiance), LOW +0.5% (to restart share repurchase program), CVNA +0.4% (announces $1.0 bln increase to loan sale program), NEM +0.4% (AEM and NEM form JV in Colombia), AAL +0.4% (collaborating with several foreign govts on pre-flight COVID testing), MSFT +0.2% (issues report that shows increasing sophistication of cyber threats), C +0.2% (Citigroup's Ray McGuire may run for NYC mayor, according to CNBC), CBOE +0.2% (S&P outlook revised to stable), BAM +0.1% (files for $3.5 bln mixed securities shelf offering), HDS +0.1% (announces $500 mln share repurchase authorization), AMZN +0.1% (gets into virtual tourism, according to GeekWire)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: PRGS -11.9%, MU -3.8%
Companies trading lower in after hours in reaction to news: FCEL -11.7% (stock offering), ARQT -6.6% (files for 4 mln share offering; also announces $35 mln private placement), IMXI -5% (stock offering), OMI -4.5% (stock offering), CPRX -2.5% (announces ruling on lawsuit brought against the FDA; intends to appeal), FROG -1.7% (names new Chief Marketing Officer), DIS -1.5% (to lay off 28,000 employees amid prolonged park closures, according to CNBC), ORCL -0.4% (TikTok launches in-app guide to the 2020 US elections, according to TikTok website), AEM -0.1% (AEM and NEM form JV in Colombia), MD -0.1% (new CFO)