Check out which companies are making headlines after the bell on the first day of trade in 2017:
Shares of Tesla fell as much as 4 percent in extended trade Tuesday after the company missed its own guidance for vehicle deliveries in 2016. The electric automaker delivered 76,230 vehicles, falling just shy of its 80,000 goal. The electric carmaker said in a press release issued Tuesday that the numbers “should be viewed as conservative” because Tesla only counts a car as delivered if it is transferred to the customer and all of the paperwork is correct.
As a result, the company said it did not count 2,750 vehicles as fourth quarter deliveries because they were delayed in transport or because the customer was unable to take the delivery. An additional 6,450 vehicles were on their way to customers at year’s end — the company will count them at the end of the first quarter of 2017.
Shares of Regeneron Pharmaceuticals fell more than 1 percent after a federal judge refused to throw out a court verdict from March upholding two Amgen patents for its cholesterol drug. Amgen’s shares rose about 1 percent after the news. In the October 2014 lawsuit, Amgen sought to stop Regeneron and Sanofi from both selling Praluent, a drug intended to lower bad LDL cholesterol.
Gilead saw its stock fall more than 1 percent in choppy trade after the biopharmaceutical company announced that Alessandro Riva will join the company in a senior role. Riva was named senior vice president for hematology and oncology therapeutic area head. In the position, he will be responsible for Gilead’s hematology and oncology programs. Previously, Riva served as head of global oncology development for Novartis Oncology, where he was responsible for the development of more than 20 cancer compounds.
source”cnbc”
