Google Inc. shares went up in the extended session Monday after the tech company released the news that it will create a company named Alphabet Inc. under which all its businesses will be run. In a letter released by Google and signed by Larry Page its founder, it states that;
"We've long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes. But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant. Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet. I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President."
According to marketwatch, Google shares jumped almost 5% after the company announced that Larry Page will be the CEO of Alphabet Inc. and Sergey Brin as president. And Sundar Pichai will be CEO of the core Google business.
Another company that made some significant change is the burger chain Shake Shack. The burger chain topped the Wall Street's earnings and revenue last Monday and after such event, according cnbc, Shake Shack shares jump as high as 8 percent. As reported on the same website, "Revenue increased 75 percent from the year-earlier period, while same restaurant sales rose 12.9 percent. The company also announced a secondary offering of 4 million shares of common stock."
Other companies making the headline after the bell but not in same level with Google and Shake Shack are Take-Two Interactive and Norwegian Cruise Lines. Take-Two Interactive, the video game maker, according to cnbc missed earnings estimate but beat on revenue. The company's stock slipped more than 3 percent. And Norwegian Cruise Lines slid more than 1 percent after the company announced a secondary public offering of 20 million shares of common stock, according to cnbc.
