logo
  

After Market Hours: Herman Miller, Switchback Energy, Steelcase, Moderna Gain; NuCana Slips

Herman Miller Inc. (MLHR) - Shares of the office furniture maker jumped 16% on Wednesday after-hours driven by its first-quarter results. Profit rose to $73.0 million or $1.24 per share from $48.2 million or $0.84 per share. Sales dropped 6.6% to $626.8 million from $670.9 million last year. Analysts polled by Thomson Reuters estimated earnings of $0.26 per share and revenues of $524.83 million.

Switchback Energy Acquisition Corp. (SBE) - Shares of the special-purpose acquisition company gained over 11% in extended session Wednesday. According to a Reuters report, electric vehicle charging network company ChargePoint is nearing a deal to go public via reverse merger with Switchback Energy Acquisition. The deal could value ChargePoint at over $2 billion.

Steelcase Inc. (SCS) - Shares of the office furniture maker gained 7% in after-hours trading despite no stock-related news. Meanwhile, Steelcase's competitor Herman Miller, which is also up 16% in extended session, reported a first-quarter results that trumped Wall Street estimates.

Moderna Inc. (MRNA) - Shares of Moderna gained nearly 3% after the company announced a collaboration with Vertex Pharmaceuticals to treat cystic fibrosis using gene editing. Moderna will receive $75 million upfront, with potential for additional development, regulatory and commercial milestones and royalty payments.

NuCana plc (NCNA) - Shares of the clinical-stage biopharmaceutical company slipped 9% after the bell after NuCana announced a public offering of its American Depositary Shares.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The National Restaurant Association or NRA has urged the U.S. Congress to refill the Restaurant Revitalization Fund or RRF, which is expected to save more than 1.6 million jobs in the restaurant industry hit hard by the surge in Omicron Variant. In a letter to Congress, the association highlighted, based on its survey on 4,200 restaurant operators, the devastating impact so far on the industry... Industrial conglomerate General Electric Co. reported Tuesday a net loss for the fourth quarter compared to a profit last year, hurt by steep debt extinguishment costs and lower revenues. However, adjusted earnings per share topped analysts' expectations, while quarterly revenues missed them. Shares of LM Ericsson were gaining more than 7 percent in Swedish trading as well as in pre-market activity on Nasdaq, after the telecom equipment maker reported Tuesday higher profit and sales in its fourth quarter with strong demand. Further, the company lifted its full-year dividend, and maintained targets for fiscal 2022 EBIT growth as well as long-term target of EBITA margin.
Follow RTT