Check out the companies making headlines after the bell on Wednesday:
Share price of Tailor Brands plummeted nearly 20 percent after the bell, despite reporting first quarter earnings and revenue that beat analyst expectations. The retail holding company reported earnings per share of 48 cents on $794 million in revenue, compared to the 50 cents on revenue of $818 million that Wall Street expected. Tailor Brands missed on sales, however, reporting 2.1 percent comparable same-store sales, falling short of the 2.5 percent analysts expected. Tailor Brands, which owns brands like Men’s Wearhouse and Jos. A Banks, also reduced its debt by 110 million in the first quarter.
Shares of Mylan fell more than 4 percent in the extended session. The Pennsylvania pharmaceutical company announced that U.S. health regulators were unable to approve its generic version of the asthma medication Advair, citing “minor deficiencies” with the drug. Mylan did not clarify whether it would be able to resolve the issues and snag an approval this year.
Shares of GlaxoSmithKline, which produces name-brand Advair, climbed 2.2 percent after the announcement, before paring its gains.
Comcast whipsawed in extended trading, before trading up less than 1 percent. The telecommunications company announced a $65 billion bid for Twenty-First Century Fox units that are currently in an agreement to be acquired by Disney. The bid, announced Wednesday, represents a 19 percent premium to Disney’s offer.
Disney stock edged up slightly after the announcement.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.
–Thomson Reuters contributed to this report.
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