Nikola Motor Company Two truck
Source: Nikola Motor Company
Check out the companies making headlines after the bell:
Nikola — Shares of Nikola fell about 1% in extended trading, adding to steep losses on Monday. The decline came after Nikola founder and executive chairman Trevor Milton announced his resignation overnight. Milton’s departure follows short seller Hindenburg Research’s report accusing him of making false statements about the company’s technology to attract investors and partnerships with other automakers. Milton agreed to forfeit up to roughly $166 million of equity as well as a two-year, $20 million consulting contract as part of his abrupt departure.
Tesla — Shares of Tesla dropped nearly 6% in overnight trading after CEO Elon Musk said in a tweet that the electric car-maker’s “Battery Day” event would not reach “serious high-volume production” until 2022.
Comcast — Shares of Comcast gained sightly in after-hours trading after Trian Fund Management took a stake in the cable giant. The hedge fund bought 7.16 million class A common share of Comcast, a regulatory filing showed. “Trian believes Comcast’s stock is undervalued. We have recently begun what we believe are constructive discussions with Comcast’s management team and look forward to continuing those discussions,” a Trian spokesperson told CNBC
Roku — Shares of Roku rose slightly in extending trading, building on its recent momentum. The streaming video company jumped more than 17% on Monday to hit an all-time high after striking a deal with NBCUniversal, CNBC’s parent company, which will make NBC’s Peacock streaming service available on Roku devices. Comcast CEO Brian Roberts said last week that the new streaming service has 15 million sign-ups.
Carnival, United Airlines — Shares of airlines and cruise operators rebounded slightly in extended trading after big losses. These stocks were among Monday’s biggest laggards as fears of a worsening coronavirus pandemic weighed on sentiment. Carnival gained 0.8% after dropping 6.6%, while United Airlines rose 0.9% following a 8.6% decline.
Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC.
See which stocks are posting big moves after the bell.