Nikola Motor Company Two truck
Source: Nikola Motor Company
Check out the companies making headlines after the bell:
Virgin Galactic — Shares of the space travel company tumbled 8% in extended trading after the release of second-quarter financial results. Virgin Galactic reported a loss of 30 cents per share and an adjusted EBITDA loss of $54 million for the quarter. The company did not record any revenue for the quarter with Virgin Galactic not yet starting its commercial space tourism yet. The space travel company also announced it anticipates flying found Sir Richard Branson in the first quarter of next year and plans to raise about $460 million in a sale of around 20.5 million shares of common stock.
Nikola — Shares of the hybrid truck manufacturer fell 2% after the closing bell after rising more than 21% earlier in the day. Nikola is scheduled to report earnings Tuesday after the bell. Deutsche Bank said the stock looks attractive, issuing a short term buy rating and maintaining its long-term hold rating.
ADT — ADT’s stock dropped 1% in extended trading following a surge of 56% earlier in the day. The surge happened after Google announced it will invest $450 million for a 6.6% stake in ADT. The partnership will allow ADT to offer Google’s Nest smart home devices to customers.
Take-Two — The video game publisher’s stock jumped 4% in extended trading after hitting an all-time high earlier Monday. Take-Two also reported its first-quarter financial results after the closing bell. The company’s revenues of $996 million surpassed Refinitiv analysts’ estimate of $844 million.
AIG — Shares of AIG whipsawed and fell 1% in extended trading after the insurance company released its second-quarter financial results. AIG’s earnings of 66 cents per share excluding certain items beat the estimated earnings of 50 cents per share expected by Refinitiv analysts.