After-Hours Buzz: JCP, AA, MNST & More
Check out which companies are making headlines after the bell Monday:
JCPenney - Ron Johnson is out as JCPenney's CEO, a source familiar with the situation told CNBC. Mike Ullman will rejoin the company as CEO. Shares initially jumped following the announcement in extended-hours trading, but quickly turned lower.
Ron Johnson took over as the retailer's CEO in November, 2011. Since then, shares of the company are down more than 50 percent and market cap has tumbled from $6.84 billion to $3.49 billion.
Alcoa - The aluminum producer posted earnings of 11 cents a share, excluding one-time items, topping estimates by 3 cents a share. Meanwhile, the company reported revenue of $5.83 billion, falling slightly short of the expected $5.88 billion. In addition, the company said it expects a 7 percent global aluminum demand in 2013. Shares edged higher in extended-hours trading.
(Read More: Stocks Reverse Losses to End Higher; Alcoa Gains)
Monster Beverage - The energy drink maker's board approved a $200 million share repurchase program, sending shares higher in extended-hours trading.
Gilead - The biotechnology company submitted a new drug application to the FDA for approval of sofosbuvir, a drug for the treatment of chronic hepatitis C virus infection. Shares were unchanged in extended-hours trading.
Global Payment - The Nomura Securities upgraded the electronic transaction processing services provider to "buy" from "neutral." Shares ticked higher in extended-hours trading.
BMC Software - The computer software company announced it is reducing its workforce as part of a company-wide operational review that was announced in January, according to an 8K filing. The cut is expected to result in pre-tax charges of approximately $33 to $38M for severance and related termination costs, which will be future cash expenditures. Shares were largely unchanged in extended-hours trading.
Starwood Property Trust - The real estate investment trust announced a 26.5 million share common stock offering through Credit Suisse, Deutsche Bank, and Wells Fargo. Shares declined in extended-hours trading.
Sourcefire - The network security hardware and software company appointed John Becker as CEO, effective immediately. Martin Roesch, founder of the company who has served as interim CEO will continue in his role as Chief Technology Officer and remain a member of the board.
The Advisory Board - The global research and consulting company appointed CEO Robert Musslewhite to serve as the company's Chairman.