Stocks making the biggest moves after the bell: Levi Strauss, Twitter, Meredith and more
Check out the companies making headlines after the bell Wednesday:
Levi Strauss & Co — Shares of the denim manufacturer rose nearly 3% after reporting quarterly earnings and sales that topped analyst expectations as back-to-school drove consumer demand. While many apparel companies are being hit hard by global supply chain bottlenecks, Levi Strauss said less than 4% of its global volume comes from Vietnam, where production facilities have suffered from periodic shutdowns during the pandemic.
Meredith Corp. — Meredith gained more than 6% after hours on news that IAC's Dotdash will acquire the company's digital and magazine businesses for $42.18 per share in an all-cash transaction. The combined company will be called Dotdash Meredith and be led by Dotdash CEO Neil Vogel.
Twitter — The social media company's shares added nearly 2% after it announced plans to sell its MoPub mobile advertising network to mobile game developer AppLovin for $1.05 billion in cash. Twitter bought MoPub for a reported $350 million in September 2013.
Citrix Systems — The cloud company gained 1% after it announced that CEO and President David Henshall has stepped down and that board chair Bob Calderoni is replacing him, effective immediately. The company also said it expects third-quarter revenue to be at the midpoint to high end of its previous guidance range.
Rocket Lab USA — Shares of the space company soared more than 20% after announcing it won a NASA contract to launch an Advanced Composite Solar Sail System, which will launch as part of a rideshare mission scheduled for lift-off in mid-2022.
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