The headquarters of the German immunotherapy company BioNTech is located on April 22, 2020 in Mainz, Germany.
Thomas Lohnes | fake pictures
Look at the companies that make headlines after the bell:
Tesla – Tesla shares fell 2% in extended trading. During the day, the shares rose and then fell in a volatile session, and at one point Tesla’s market value reached $ 321 billion. Musk is the seventh-richest person in the world, beating investor Warren Buffett as of Friday. Over the weekend, CEO Elon Musk tweeted that the company is abandoning plans for a Model Y SUV at a bargain price.
BioNTech: Biotech company shares rose 1% during extended trading after jumping 10.55% earlier in the day. The increase follows Monday’s news that BioNTech and Pfizer had two of their experimental coronavirus vaccines receive “fast-track” designation status from the Food and Drug Administration. The companies expect to have 100 million doses of a vaccine by the end of 2020 and possibly more than 1.2 billion doses by the end of 2021.
Modern – Shares of the biotech company rose 3% after hours. A senior Trump administration official said Monday afternoon that US drug makers will begin production of the coronavirus vaccine in late summer. Moderna is a leading developer of a Covid-19 vaccine and its development efforts are being supported by the federal government. Moderna’s shares rose nearly 15% on the day on news that the company will join the Nasdaq 100 index starting July 20, according to Reuters.
Mohawk Industries: Mohawk shares fell 10% after the closing bell. The flooring company’s shares continue a downward trend as it faces a class action lawsuit by shareholders alleging sales fraud. The company confirmed that it has been subpoenaed by the United States Attorney’s Office and the SEC and addressed the allegations in an 8-K, saying it “intends to defend itself vigorously.”
Spartan Energy – Spartan Energy shares rose 3% in extended trading after falling nearly 10% earlier in the day. On Monday morning, the electric vehicle startup Fisker announced that it will go public through a merger with Spartan Energy, which is backed by private equity firm Apollo Global Management. The deal is expected to close in the fourth quarter.
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