Stocks making the biggest moves after hours: IBM, Moderna, Tesla and more

Market Insider

Traders work on the floor of the New York Stock Exchange.

Brendan McDermid | Reuters

Check out the companies making headlines after the bell

IBM — IBM shares rose more than 6% in extended trading following the release of the company’s second quarter earnings. The technology company reported second quarter earnings of $2.18 per share excluding items on revenues of $18.12 billion. This beat what Refinitiv analysts had predicted as earnings of $2.07 on revenues of $17.72 billion.

Moderna — Moderna’s stock fell 1% after the closing bell after falling 12.83% earlier in the day. The stock saw a drop after Pfizer and BioNTech reported promising data from their experimental coronavirus vaccine, showing their vaccine was safe and induced an immune response in patients. Moderna’s stock was also downgraded by JPMorgan to neutral from overweight. Another coronavirus vaccine maker, Novavax, saw its shares climb 3% in extended trading.

Nikola — Shares of electric truck maker rose 1% and whipsawed in after hours. Nikola’s stock fell 10% earlier during the day after the company filed a new stock offering related to warrants and Deutsche Bank analysts said there could be more selling ahead.

Tesla — The automaker’s stock gained 1% in extended trading after jumping 9.5% earlier Monday. CNBC contributor Jim Cramer said in a tweet that Tesla’s big move, as well as those of Amazon and Microsoft, which rose 7.4% and 4.3% earlier Monday, was “truly insane.” Tesla is scheduled to report its quarterly earnings results Wednesday. 

Noble Energy — Shares of the oil and gas company rose 1% after the closing bell. Noble’s stock rose 5.4% earlier Monday after Chevron announced it will acquire the company in an all-stock deal valued at $5 billion.

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