Home / Business / Stocks that make the biggest moves after hours: GM, Snap, Merck

Stocks that make the biggest moves after hours: GM, Snap, Merck

Traders work on May 20, 2019 in New York City on the floor of the New York Stock Exchange.

Spencer Platt | Getty Images News | Getty Images

Take a look at the companies that made headlines after the bell :

Merck & Co's shares traded up to 9% in extended trading on Monday before erasing those losses after Drugs Keytruda did not live up to expectations in Phase 3 of the drug trial. The breast cancer drug Keytruda did not show any results that met the desired requirements compared to chemotherapy-treated patients.

The Snap shares rose slightly after the company announced the appointment of a new CFO for the transition period, CFO Lara Sweet, effective immediately. The social media company promoted Derek Andersen, Snap's current vice president of finance, to the position of chief financial officer. Lara Sweet will assume the role of Chief People Officer.

General Motors' stock was on the verge of announcing that the company will discontinue its Maven car-sharing service in eight of the 1

7 North American cities in which it is currently located. Maven, which was launched in 2016, will be discontinuing service in cities like Chicago and Boston in the coming months. GM has not published the full list of cities where the service will be discontinued. The cities where the service continues to operate include Los Angeles, Washington, DC, Detroit and Toronto.

Shares in Mercury Systems declined more than 5% after the aerospace and defense company announced the issue of 5 million common shares a year, a signed public offering. The Company intends to use the net proceeds of the Offering to refinance or repay debt and future acquisitions and other corporate expenses.

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