After-hours buzz: JCPenney, Tesla, Yum & more
Check out which companies are making headlines after the bell Monday:
JCPenney - JCPenney and Pershing Square's Bill Ackman could be in talks to resolve their differences as early as Monday evening, according to a Reuters report. Earlier, CNBC learned that major shareholder Glenview Capital said it has not chosen sides in the JCPenney boardroom fight and has a "passive" stake in the retailer. Shares were slightly lower in extended-hours trading.
Yum Brands - The parent company of KFC and Pizza Hut said same-store sales in China fell 13 percent in July. The company said its KFC sales were negatively impacted by the residual effects of adverse publicity surrounding the poultry supply incident in December. However, the company said it expects same-store sales in the region to be positive in the fourth quarter. Shares dropped in extended-hours trading.
Tesla Motor - Tesla CEO Elon Musk unveiled the details of his superfast transportation system, Hyperloop. Musk proposed a system of tubes built either above or below ground that will move people between cities that are less than 900 miles apart. The system could also be self-powering by placing solar panels on top of the tube. Shares edged higher in extended-hours trading.
Iamgold - The gold producer posted earnings of 8 cents a share, excluding one-time items, on sales of $301 million, missing expectations for 9 cents a share on revenue of $324 million. Still, shares rose slightly in extended-hours trading.
Avanir Pharmaceuticals - The pharmaceuticals company said it has entered into an exclusive, multi-year deal with Merck to co-promote Merck's type 2 diabetes therapies. Avanir soared in extended-hours trading.
Sonic - The drive-in fast-food restaurant chain increased its share repurchase program up to $40 million. Shares ticked higher in extended-hours trading.
WageWorks - The employer-sponsored services provider filed a 7.2 million share secondary offering. Shares slumped in extended-hours trading.
The Medicines - The pharmaceutical company announced a 5.5 million share secondary offering through JPMorgan and Bank of America/Merrill Lynch. Shares dipped in extended-hours trading.