Stocks making the biggest moves after hours: Tesla, Red Rock Resorts, Fitbit and more
Check out the companies making headlines after the bell:
Tesla – The automaker's stock rose 1% in extended trading. Tesla's shares jumped 13.5% and hit a new high earlier Monday on JMP Securities' projection that the company will generate $100 billion in annual revenue by 2025.
Red Rock Resorts – Red Rock Resorts dropped more than 1% in extended trading. The company said Saturday that Red Rock Resorts President Richard Haskins died in a July 4 watercraft accident and that it will release a succession plan in the coming days. The drop also follows a trend of U.S. casino stocks declining over investor concerns that property closings will continue in the coming weeks because of the coronavirus pandemic.
Inovio Pharmaceuticals – Shares of Inovio fell 1% after the market closed. The pharmaceutical company's stock has trended downward since last week when it announced positive results for its coronavirus vaccine clinical trial. Following the release, medical news site Stat said the company did not provide critical data required to evaluate its value.
Fitbit – Fitbit's stock whipsawed in extended trading. Regulators in the European Union are reviewing Google's $2.1 billion acquisition of Fitbit, with continuing concerns over how Google could use Fitbit users' personal data and dominate the market.
Thousands of U.S. Farms Got $6.4 Billion in Small Business Loans
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Agriculture, forestry, fishing and hunting companies got at least $6.4 billion in U.S. coronavirus-related small business loans, government data released Monday showed.
Over 100,000 entities received funds including soybean and corn farmers, beef and dairy operations, hunters and trappers, vineyards and fruit and vegetable growers.
The initial virus outbreak in China threatened American farm-good exports, just after the two countries signed a trade deal in mid-January. By mid-March, U.S. lockdowns walloped demand for food and fuel, forcing ethanol plants to shut down, dairies to dump milk and hog producers to cull animals.
The loans were part of some$521.5 billion issued so far by the Trump administration through the Paycheck Protection Program, which is the government’s biggest virus relief package.
— With assistance by Jason Grotto, and David Ingold
Coronavirus outbreak in South Shore after youth attend multiple parties: official
With Quebec reopening and temperatures rising, it didn’t take long for people on the South Shore to feel the effects of COVID-19 fatigue.
130 new COVID-19 cases in Alberta since Friday
Since the last provincial update on Friday, the province has confirmed an additional 130 new cases of COVID-19 across the province.
On July 3, there were 29 new cases, 52 new cases were confirmed for July 4 and 49 cases were confirmed for July 5.
Impaired driving charges laid after fatal ATV crash: Wakaw RCMP
Police have laid impaired driving charges after a crash involving an all-terrain vehicle (ATV) this past weekend in Saskatchewan.
The rollover took place on a rural property at roughly 10:50 p.m. on July 4, according to Wakaw RCMP.
Fire in Littleton destroys four buildings under construction.
A fire at a construction site in Littleton on Monday burned four three-story buildings and two people were taken to a local hospital to be treated for burns.
The afternoon fire spread to an area of brush along the Highline Canal just south of the original fires, according to South Metro Fire Rescue. A fifth building was partially burned.
The fire broke out near Riverscape Court and Channel Drive south of McLellen Reservoir.
About an hour after the start of the two-alarm blaze firefighters said the structure fires were out and that progress was being made fighting the brush fire.
The cause of the fire is under investigation.
Atlanta Mayor Lance Bottoms tests positive for COVID-19, says she is asymptomatic
- Atlanta Mayor Keisha Lance Bottoms announced Monday that she has tested positive for the coronavirus.
- "COVID-19 has literally hit home. I have had NO symptoms and have tested positive," Bottoms tweeted.
- Now considered a potential vice presidential candidate, Bottoms' national profile has risen sharply since the death of George Floyd as she addressed issues of her racism and unrest in her city, including firing the chief of police after an officer-involved shooting.
- Visit Business Insider's homepage for more stories.
Atlanta's mayor has tested positive for the coronavirus.
"COVID-19 has literally hit home. I have had NO symptoms and have tested positive," Mayor Keisha Lance Bottoms tweeted.
Bottoms' name has been floated as a potential running mate for former Vice President Joe Biden.
Her national profile has risen sharply since the death of George Floyd, with the mayor earning praise for how she handled the subsequent unrest in her city. Bottoms also fired her chief of police in the aftermath of an officer-involved shooting.
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Saskatoon man heading program giving bicycles to those in need
For the past month, Marv Friesen has been fixing up bicycles and distributing them to youth programs and underprivileged kids in Saskatoon.
Those close to Friesen know he loves cars, fixing them, building the and showing them off at the annual Show and Shine in downtown Saskatoon. Mustangs are his favourite.