After-hours buzz: AAPL, GM & more
Check out the companies making headlines after the bell:
Apple slipped about 1 percent in after-hours trading Monday. President Donald Trump suggested in an interview with The Wall Street Journal that the U.S. could levy tariffs of 10 percent on iPhones and laptops imported from China.
Earlier Monday, U.S. Supreme Court justices seemed skeptical of Apple’s arguments and sympathetic to iPhone owners who allege that the company inflates prices in its App store.
General Motors shares fell 1 percent after the bell. The car manufacturer announced Monday it would cut car production at several North American plants and reduce its workforce by 15 percent. The reductions are part of a restructuring plan that the company says will save $6 billion.
Bristol-Myers Squibb shares fell nearly 3 percent after the pharmaceutical company announced that a combination of two of its cancer drugs failed to demonstrate in late-stage trials it could extend lung cancer patients’ lives.
Shares of fashion retailer The Buckle shed over 6 percent after the company reported earnings of 42 cents. Analysts had expected 46 cents per share, according to a consensus estimate from Refinitiv. The company also missed Wall Street’s expectations on revenue, reporting $215 million versus an estimate of $219 million.