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After-hours buzz: Kohl's, Activision Blizzard, Yahoo & more

Shoppers walk in front of a Kohl's store in Mount Kisco, New York.
Scott Mlyn | CNBC
Shoppers walk in front of a Kohl's store in Mount Kisco, New York.

Check out the companies making headlines after the bell Monday:

Kohl's stock dropped after the bell on the first trading day of 2016. The apparel retailer fell 22 percent over the course of 2015, and analysts are expecting another disappointing year for department store chains like Kohl's.

Baxalta stock inched slightly higher in after-hours trading. The drugmaker jumped more than 5 percent in the regular session after inking a deal with privately held Symphogen. The potentially $1.6 billion deal allows both companies to develop immuno-oncology drugs to treat rare cancers.

Shares of GameStop dipped in extended hours trading pushing the video-game retailer's stock nearly $20 below its 52-week high.

Meanwhile, shares of gaming company Activision Blizzard climbed in after-hours trading. The company announced its acquisition of Major League Gaming, noting the deal will serve as the foundation for its eSports broadcast network.

Yahoo stock inched upward after the bell. On Monday, the Internet company announced that it was shutting down Screen, an online video portal that merged professional content from media partners as well as original programming. Yahoo was also ordered by a Chicago federal judge on Monday to face a class-action lawsuit. The suit accused Yahoo of violating the Telephone Consumer Protection Act by sending unsolicited text messages to more than 500,000 Sprint cellphone users. Yahoo could owe up to $1,500 per message if the violations are deemed willful.

— Reuters contributed to this report.