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Check out the companies making headlines after the bell:
Shares of Tiffany & Co. jumped 4% during extended trading after a Reuters report that French luxury goods maker LVMH raised its bid from $120 per share to approximately $130 per share, according to people familiar with the matter. LVMH and Tiffany have reportedly been in ongoing M&A discussions since October.
Victoria’s Secret parent company L Brands rose 4% in extended trading Wednesday after the company posted mixed third-quarter results. L Brands posted adjusted earnings per share of 2 cents on revenue of $2.68 billion, compared with Refinitiv consensus estimates of 2 cents EPS on revenue of $2.69 billion.
The company missed Wall Street estimates on same-store sales, posting a decline of 2% compared with the expected 1% decline.
Smart speaker maker Sonos saw its shares climb more than 2% after hours. The company delivered its fourth-quarter and full-year earnings and announced plans to acquire AI company Snips. The company posted fourth-quarter revenue of $294 million, while its full-year revenue came in at $1.26 billion.
PayPal also announced an acquisition after the market close on Wednesday, sending its shares down roughly 2%. The leading digital payment processor plans to buy Honey, an online deal platform, for approximately $4 billion. PayPal’s shares are up about 24% year to date.
Shares of Bristol-Myers Squibb rose more than 1% in extended trading after the company announced the completion of its acquisition of Celgene. Celgene’s shares also rose 1% following the news. Under the terms of the merger, Celgene shareholders will receive, for each share: 1 share of Bristol-Myers Squibb’s common stock, $50 in cash and one tradeable Contingent Value Right, which will “entitle the holder to receive a payment of $9.00 in cash if certain future regulatory milestones are achieved,” said Bristol-Myers Squibb in a release.
Uber shares rose more than 2% after CEO Dara Khosrowshahi disclosed in an SEC filing that he bought 250,000 of the company’s shares priced at $26.75 per share. Since its opening price of $42 per share in May, shares of the ride-hailing giant have declined roughly 33%.
Shares of Jack in the Box climbed nearly 3% despite the fast-food chain’s third-quarter earnings miss on the top and bottom line. The company reported earnings of 95 cents per share on revenue of $221.2 million, falling short of 96 cent EPS and revenue of $223 million analysts forecast, according to Refinitiv.