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After-hours buzz: Monster, JC Penney & more

Check out Thursday's after-hours buzz:

Monster Beverage surged more than 26 percent in after-hours trading on news that Coca-Cola will take a 16.7 percent ownership stake in the energy drink company.

Coca-Cola also moved higher by 1 percent in extended-hours trading after the report, as it will give Monster a more than $2 billion investment and hand over its worldwide energy business.

JC Penney rose more than 5 percent in after-hours trading after the retailer posted earnings and revenue that beat analyst expectations. The company said same-store sales rose 6 percent in the quarter, prompting hopes that JC Penney is finally on an upward trend. The firm has struggled for profitability after one-time CEO Mike Ullman returned to the retailer to take over from Ron Johnson.

Applied Materials gained more than 2 percent in extended-hours trade after the chip-equipment maker posted a rise in revenue and earnings. The increases came from greater spending on the technology from the firm's clients such as Samsung and Taiwan Semiconductor Manufacturing.

Nordstrom rose slightly before falling nearly 3 percent in extended-hours trade after the luxury department store reported revenue in line with estimates. The retailer also reported that net sales increased 6.2 percent for the second quarter year-over-year, and that it is acquiring Trunk Club, a personalized clothing service for men, for $350 million in Nordstrom stock.

Autodesk rose nearly 5 percent in after-hours trading after the software maker reported a rise in quarterly revenue helped by higher sales. The firm produces professional design software such as AutoCAD.

—By CNBC's Evelyn Cheng