Check out the companies making headlines after the bell:
Tesla shares fell nearly 12 percent in after-hours trading following news that the Securities and Exchange Commission has sued CEO Elon Musk for fraud.
The suit is related to Musk’s August tweet that stated he was “considering taking Tesla private at $420” and already had “funding secured.” The SEC said in the suit that “Musk knew or was reckless in not knowing that each of these statements was false and/or misleading.”
Progress Software stock plunged nearly 14 percent in the extended session after the company reported mixed third-quarter earnings numbers. The Massachusetts-based company reported earnings per share of 60 cents, according to Reuters, higher than analysts’ estimate of 58 cents per share. However, revenue missed expectations, with the company reporting $95.8 million, Reuters reported, compared to the $97 million expected by analysts.
CalAmp stock jumped more than 7 percent in after-hours trading after the company released its second-quarter earnings report. The technology company reported a earnings per share of 31 cents, according to Reuters, compared to the 28 cents expected by analysts. CalAmp reported $96 million in revenue for the second quarter, per Reuters, higher than analysts’ $95.4 million estimate.
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