Strauss Zelnick, CEO, Take-Two
Scott Mlyn | CNBC
Check out the companies making headlines after the bell.
Expedia — The travel booking platform’s stock whipsawed and climbed 4% in extended trading after the company gave its first-quarter financial results. Expedia reported a loss of $1.83 per share on revenue of $2.21 billion, while analysts expected a loss of $1.23 per share with revenue of $2.20 billion, according to Refinitiv.
Aurora Cannabis — The medical cannabis company’s shares soared 31% in extended trading after the company said it was buying U.S.-based CBD company Reliva. The move allows the Canadian company to enter the U.S. CBD market. However, Aurora has been struggling, having lost almost 90% of its stock value in the last year. Reliva shareholders will receive $40 million in shares from Aurora.
L Brands — The Victoria’s Secret parent company saw its stock whipsaw in extended trading after L Brands released its earnings for the first quarter. The company said it had a loss of 99 cents per share on revenue of $1.65 billion, while analysts anticipated a loss of 72 cents per share with revenue of $1.72 billion, according to Refinitiv. L Brands reported that its overall comparable sales were up 4%. Its Bath & Body Works stores saw comparable sales increase 41%, while Victoria’s Secret sales fell 13%, according to a company statement.
Take-Two Interactive Software — The video game publisher’s stock whipsawed and fell 5% in extended trading after the company announced its fourth-quarter earnings. Take-Two reported revenue of $729 million, while analysts polled by Refinitiv estimated $584 million. “With more people staying at home, we have experienced, and are continuing to experience, heightened levels of engagement,” the company said in a statement regarding its Covid-19 response. Take-Two’s stock hit a 52-week high on Wednesday.
Disney — Shares of the entertainment giant fell about 1% after the closing bell. Disney was reportedly set to present park reopening plans to the Orange County reopening task force in California Thursday, news that sent shares higher, but the company said that it would not be submitting a proposal at that time. Comcast (Universal Studios) is set to meet with the task force Thursday, but SeaWorld, which was reportedly also set to present, is not on the docket for the meeting.
CORRECTION: This article has been updated to reflect that Disney said it will not present a reopening proposal Thursday to Orange County officials, and that while SeaWorld was also reportedly set to present plans in the Thursday meeting, they are not on the docket.
Disclosure: Comcast is the owner of NBCUniversal, the parent company of Universal Studios and CNBC.