Stocks making the biggest moves after hours: Take-Two, Electronic Arts, Chegg and more

FAN Editor

A drumline performs at the Electronic Arts EA Play event at E3 in Los Angeles, California.

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Here’s a look at some of the companies making headlines after the bell.

Take-Two Interactive — The video game stock slipped 3% in extended trading even after the company reported higher-than-expected revenue for its fiscal third quarter. Take-Two posted $814 million in sales for the period, while analysts surveyed by Refinitiv were expecting revenue of $747 million. Take-Two’s earnings-per-share number was not comparable to Wall Street estimates.

Electronic Arts — The video-game giant announced Monday it will acquire mobile-games developer Glu Mobile for $2.1 billion, or $12.50 per share in cash. That price represents a 36% premium to Glu’s closing price on Friday of $9.19 per share. EA shares rose more than 1% on the news. Glu shares were halted in after-hours trading before jumping toward the offer price. “Mobile continues to grow as the biggest gaming platform in the world, and with the addition of Glu’s games and talent, we’re 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% on the back of stronger-than-expected fourth-quarter results for the education company. Chegg earned an adjusted 55 cents per share on $205.7 million in revenue. Analysts surveyed by Refinitiv were looking for 49 cents per share and $189.6 million in revenue.

Cleveland-Cliffs — The steel stock shed 3% in extended trading after the company announced it was holding a secondary stock offering of 60 million shares. The offering includes 20 million shares from the company and 40 million shares from shareholder ArcelorMittal.

— CNBC’s Rich Mendez contributed to this story.

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