Chad Robins, CEO of Adaptive Biotechnologies.
Anjali Sundaram | CNBC
Check out the companies making headlines after the bell.
Adaptive Biotechnologies – The biotechnology company’s stock fell 5% in extended trading after Adaptive gave its first-quarter financial results. The company reported a loss of 25 cents per share on revenue of $20.9 million, while analysts polled by Refinitiv expected a loss of 20 cents per share with revenue of $21.5 million.
Facebook – The social media giant’s stock dipped 1% after the closing bell. Law firm Burns Charest announced Tuesday that it was seeking approval of a $52 million class-action settlement by the California Superior Court, San Mateo County. The settlement would go to content moderators who suffered psychological trauma while working for Facebook. ”We are grateful to the people who do this important work to make Facebook a safe environment for everyone,” a Facebook spokesperson said in a statement to CNBC. “We’re committed to providing them additional support through this settlement and in the future.”
Vir Biotechnology – Shares of the biotech company dropped more than 2% in extended trading after Vir released its first-quarter earnings. The company said it had a loss of 71 cents per share on revenue of $5.7 million. The company reported revenue of $3.7 million in the same quarter last year. Vir also said it saw an increase in operating expenses, which came in at $77.6 million compared to the total of $34.4 million reported a year ago. The company has been working on treatments for the coronavirus.
Tesla – The automaker’s stock dropped 1% after the market closed. Tesla employees went back to work this week at the company’s manufacturing plant in Fremont, California. CEO Elon Musk began reopening the facility despite local health orders prohibiting manufacturing there and received support from President Donald Trump. Workers at the newly reopened plant described new safety precautions such as wearing masks and staggered shift times.
Gilead Sciences – The pharmaceutical company’s stock whipsawed in extended trading after Gilead announced that it had executed a licensing agreement to make the antiviral drug remdesivir in 127 countries, not including the United States. Gilead will work with five generic drugmakers to produce the potential coronavirus treatment.