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After-hours buzz: Alphabet, LendingClub, Target & more

NYSE end of day, after hours
Brendan McDermid | Reuters

Check out the companies making headlines after the bell Tuesday:

Google-parent Alphabet saw its shares drop in extended trading ahead of the company's annual developer conference Wednesday. The technology giant is expected to drop news of several major products at the annual event, with speculation ranging from a voice assistant named Chirp to an Android virtual reality platform to a convergence of operating systems across Android and Chrome.

LendingClub's stock continued to slide after the bell, after falling 8.6 percent lower as the company faces a regulatory probe. The company said Monday it had received a Justice Department subpoena last week, following Renaud Laplanche's resignation as chairman and CEO. The company's leadership said a review of loans discovered that staff knowingly sold $22 million in loans in March and April that did not meet the buyer's requirements.

Target shares popped ahead of the retailers' upcoming earnings report. Wall Street is expecting the retail giant to post earnings per share of $1.19 on revenue of $16.31 billion, according to a Thomson Reuters consensus estimate.

Shares of Chinese discounter Vipshop Holdings fell after the company reported earnings. The company reported net revenue of $1.89 billion, a 41 percent year-over-year increase, as active users and orders both increased. The company has 20 million active customers, said CEO Eric Shen, in a statement.

"After several quarters of fine-tuning our strategy of balancing revenue growth and marketing and promotion expenses, we now have improved control between these competing levers and aim to achieve more stabilized growth going forward," Shen said.

Shares of Regeneron dipped as Centers for Medicare and Medicaid Services officials debate changes to the Part B drug payment plan. A Tuesday hearing proceeded amid backlash to the proposed changes. Certain modifications of the proposal could have upside for Regeneron, says Geoffrey Porges, an analyst at Leerink.

— CNBC's Fred Imbert contributed to this report.