Market Insider

After-hours buzz: HTZ, WYNN, MYL & more

New York Stock Exchange
Chip East | Reuters

Check out which companies are making headlines after the bell on Election Day:

Hertz Global Holdings was down slightly after news that billionaire investor Carl Icahn increased his stake in the company. Icahn had an earlier stake of 15.24 percent as of June 30. Tuesday's purchase more than doubled his stake, bringing it to 33.77 percent of the company. The stock closed down 22.5 percent on Tuesday.

Wynn Resorts ticked lower after it said in a regulatory filing it intends to use the net proceeds of any securities sold for general corporate purchases. The company said general corporate purposes may include repayment of debt, acquisitions, additions to working capital, capital expenditures and investments in subsidiaries. The Las Vegas-based company is currently constructing Wynn Boston Harbor in Massachusetts.

Mylan shares fell in extended trading after a law firm announced a class action lawsuit has been commenced on behalf of shareholders. The securities litigation law firm of Brower Piven encouraged investors who have losses in excess of $100,000 from investment in Mylan to contact the firm before the December 12 deadline. The complaint accuses the defendants of violating the Securities Exchange Act of 1934, citing the defendants' failure to disclose that Mylan incorrectly classified EpiPen as a generic drug under the Medicaid Drug Rebate Program.

Smith & Wesson shares were up nearly 2 percent after the bell. The stock is up more than 12 percent over the last month amid talk of tighter gun control measures on the ballot for Election Day. In Maine and Nevada, for example, residents will vote on whether to mandate universal background checks for firearm sales, including private handgun transactions. If those two measures pass, half of all Americans would live in states that have such expanded checks.

—Reuters contributed to this report.