Shares of Men’s Wearhouse (NYSE:MW) are surging more than 6% after the closing bell. The apparel company announced strong third quarter earnings. Net income was $39.9 million (77 cents per share), compared to $25.3 million (47 cents per share) last year.
After falling almost 3% during regular market hours, shares of Netflix (NASDAQ:NFLX) jumped 1.09% in late trading. Reports indicate that Verizon (NYSE:VZ) is preparing to launch an online streaming video service to compete with Netflix and Amazon (NASDAQ:AMZN).
Investing Insights: 11 Large Cap Stocks Scoring 52-Week Highs as Dow Jones and S&P Climb Upward.
With shares being down 8% year-to-date, General Electric (NYSE:GE) is looking for other ways to provide returns to shareholders. The company announced it was on track to resume paying a dividend next year.
Shares of MetroPCS Communications Inc. (NYSE:PCS) popped nearly 8% on Tuesday. CFO J. Braxton Carter announced that AT&T Inc.’s (NYSE:T) attempt to purchase T-Mobile USE is likely to fail, citing intense opposition by the government. Shares edging lower in extended trading.
LinkedIn (NYSE:LNKD) continues to climb .35% higher in late trading. The social networking firm received upgrades from Morgan Stanley (NYSE:MS) and JP Morgan (NYSE:JPM). Bank of America Merrill Lynch (NYSE:BAC) also raised its 2012 and 2013 earnings estimates for the company.
Citigroup (NYSE:C) shares are slipping .50% after the bank announced plans to cut about 4,500 jobs in the coming quarters. Previously, the bank was expected to cut 3,000 jobs. Citigroup will take a charge of about $400 million in the fourth quarter due to the cuts.