Shoppers exit a Bed Bath & Beyond store in New York.
Michael Nagle | Bloomberg | Getty Images
Check out the companies making headlines after the bell:
Bed Bath & Beyond shares surged as much as 22% during extended trade after the company announced that Mark Tritton will take the helm as president and CEO of the company on Nov. 4, succeeding interim CEO Mary A. Winston. Tritton was most recently executive vice president and chief merchandising officer at Target. His immediate focus will be on “accelerating the [c]ompany’s ongoing business transformation,” the home goods retailer said in a press release.
Separately, Target announced that Senior Vice President of Operations Michael Fiddelke will become executive vice president and CFO on Nov. 1. The retailer’s shares dropped 1%, after the company’s stock hit a YTD high earlier Wednesday.
PG&E shares plunged more than 25% after a California judge granted a motion from a group of claimants and senior note-holders led by Elliott Management, which would open the way to a rival restructuring plan. The claimants and creditors must file their plan by Oct. 17, the judge ordered.
Shares of Sprint popped nearly 3% after the bell following Mississippi’s Attorney General Jim Hood’s settlement with T-Mobile to drop his state’s legal challenge against the merger between the two carriers in exchange for new T-Mobile 5G networks, among other commitments. Within six years, New T-Mobile must cover at least 92% of Mississippi’s general population and 88% of its rural population with 5G service, according to the terms of the agreement. So far, more than a dozen other state attorneys general have signed onto the multi-state lawsuit opposing the merger, Reuters reported.
Micron shares sunk 2% following a report from the South China Morning Post that the U.S. and China made no progress in deputy-level trade negotiations this week. Higher-level talks are expected to last for only Thursday, the report added, instead of the Thursday-Friday timeframe that was originally planned.
Shares of NVIDIA and Broadcom also fell following the news. NVIDIA fell 2% while Broadcom dropped 1%.