Check out the companies making headlines after the bell.
J.B. Hunt — The transportation company's stock rose 4% in extended trading after the company beat analysts' estimates on first-quarter revenue. J.B. Hunt reported revenue of $2.28 billion, while analysts polled by Refinitiv expected $2.19 billion. The company narrowly missed estimates on earnings, reporting earnings of 98 cents per share while analysts expected 99 cents per share, according to Refinitiv.
American Airlines — Shares of the airline shot up 8% in extended trading after the Treasury Department and U.S. airlines reached an agreement in principle on billions in government aid. The economic relief, which is part of the more than $2 trillion coronavirus stimulus package passed by Congress, comes as the airline industry has been battered by flight cancellations and stay-at-home orders stemming from the pandemic that have kept people from traveling. Other airlines that applied for the bailout, including Delta Air Lines, United Airlines and Southwest Airlines, also saw their stock prices jump after the closing bell.
Procter & Gamble — The consumer goods company's stock rose 2% in extended trading after the company announced that it raised its dividend 6% to 79 cents. The company also said that it is moving up the date for its third-quarter earnings release from April 21 to April 17. Many companies have delayed their earnings releases or withdrawn their financial guidance amid the coronavirus pandemic.
J.C. Penney — The clothing retailer's stock dropped 1% after the market closed. It was reported earlier Tuesday that the company approached consulting firm AlixPartners LLP as it looks for options to manage its debt. Brick-and-mortar retailers have faced difficulties during the Covid-19 pandemic as consumers turn to online shopping. J.C. Penney also had to furlough most of its hourly staff and salaried associates last month as it extended store closures.
GlaxoSmithKline — The pharmaceutical company's stock was up 1% after the closing bell. GSK CEO Emma Walmsley told CNBC Tuesday that the company's Covid-19 vaccine partnership with competitor Sanofi is an "unprecedented collaboration." The company hopes to produce hundreds of millions of vaccine doses by the end of next year, according to Walmsley. She also said the world will likely need more than one kind of vaccine available, considering the state of demand.
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Source: cnbc.com
