In after-hours trading Monday, shares of media company Viacom Inc. dipped after it announced it will take a $785 million pretax charge as part of a reorganization. Meanwhile, shares of biopharmaceutical company Clovis Oncology Inc. leaped more than 7 percent on news its cancer drug has been awarded “Breakthrough” status by the U.S. Food and Drug Administration.
U.S. stocks rebounded Monday, with the blue-chip Dow Jones Industrial Average closing positive for the year, after a weak March jobs report eased investor fears about a June interest rate hike. The Dow Jones Industrial Average (INDEXDJX:.DJI) leaped 117.61 points, or 0.66 percent, to close at 17,880.85. The Standard & Poor's 500 (INDEXNASDAQ:.IXIC) added 13.66 points, or 0.66 percent, to end at 2,080.62. The Nasdaq composite (INDEXSP:.INX) rose 30.38 points, or 0.62 percent, to finish at 4,917.32.
Here are four stocks to watch in after-hours trading:
1. Viacom To Take $785M Pretax Charge In Reorganization
Shares of Viacom Inc. (NASDAQ:VIA) fell around 1 percent to $67.50 in extended-hours trading Monday after the media company announced it will take a $785 million pretax charge during the company’s fiscal second quarter ended March 31 as part of a reorganization. Viacom said it will “temporarily pause” share purchases under its current $20 billion stock buyback program.
2. Clovis Oncology Shares Jump After Cancer Drug Awarded 'Breakthrough' Status By FDA
Clovis Oncology Inc. (NASDAQ:CLVS) leaped more than 7 percent to $74.95 following the closing bell Monday after the biopharmaceutical company announced the U.S. Food and Drug Administration granted its “Breakthrough Therapy” designation for the company’s investigational agent rucaparib treatment for ovarian cancer.
3. Uniqure Shares Surge 47% After Bristol To Buy Stake In Gene Therapy Drug
Shares of Dutch company Uniqure NV (NASDAQ:QURE) surged more than 47 percent Monday to $33.61 after pharmaceutical company Bristol-Myers Squibb Co. (NYSE:BMY) announced it plans to invest a 4.9 percent stake in the company to collaborate on its gene therapies drug, Glybera, for cardiovascular disease.
Under the terms of the agreement, the deal could be valued at more than $2.2 billion. Both companies anticipate the collaboration to be effective during the second quarter of 2015.
In after-hours trading, shares of Bristol-Myers Squibb dipped 0.17 to $62.89, after closing at $63.
4. Herbalife Rebounds Following Report Top Members Contacted By Law Enforcement
After dropping more than 4 percent in morning trading, shares of Herbalife Ltd. (NYSE:HLF) closed 1 percent higher Monday to $43.34, despite a report that U.S. federal law enforcement agencies contacted several of the nutrition company’s top members last week seeking information on their business practices, CNBC reported, citing sources familiar with the matter.
Following the report, however, Bill Stiritz, Herbalife’s fifth-largest investor, told CNBC in an interview Monday he has no plans to sell his stake in the company after changing his status to a passive holder from an active one. Stiritz holds a 8.2 percent stake in the company.
In extended-hours trading Monday, shares of Herbalife edged up 0.02 percent to $43.35.