It was a strong day for the healthcare industry and the U.S. stock market as a whole, while analysts noted that the U.S. economy is improving. The S&P 500 surged 0.5%, while the Dow Jones Industrial Average climbed 0.4% higher.
It was a busy Wednesday afternoon as Western Digital Corp (NASDAQ:WDC) announced a personnel change, MGM Resorts International (NYSE:MGM) expanded its commitment to renewable energy and Chemours Co (NYSE:CC) is on the wrong end of a lawsuit.
Here’s how these stocks did after the bell Wednesday:
Chemours Co (CC)
E I Du Pont De Nemours And Co (NYSE:DD) spinoff Chemours is paying for its parent company’s legal troubles.
The company is being hit with at least 3,500 lawsuits over a toxic chemical in Teflon — a coating chemical found in paint — that was discovered in water in Ohio and West Virginia.
Potable water sources from both states were contaminated with the chemical, causing a man testicular cancer, in addition to a slew of other health issues.
The cancer case was the second to go to trial, and a jury in Columbus, Ohio found Chemours was negligent and awarded $5.1 million in damages.
The company also lost the first case that went to court, shelling out $1.6 million to a woman back in October.
After a free-fall during the trading day, CC stock grew 2% after hours yesterday.
MGM Resorts International (MGM)
MGM Resorts International has created the largest assemblage of solar panels on a rooftop.
The Mandalay Bay Convention Center — located in the Las Vegas Strip with a capacity of 12,000 — now has 26,000 solar panels in its rooftop.
The panels amount to 28 acres of space, and are capable of producing 25% of the hotel’s total needed energy. MGM also donated $10,000 to the Energy Choice Initiative.
Mandalay Bay president Chuck Bowling said the move is designed to show the company’s commitment to renewable energy in its locations.
MGM shares fell 1% after the bell Wednesday.
Western Digital Corp (WDC)
Western Digital shares rose on the announcement that its CFO is departing.
Olivier Leonetti — who served as the CFO and executive vice president (EVP) of the company for nearly two years — will leave Western Digital.
The company has tabbed current company EVP and Chief Strategy Officer Mark Long to take over the position.
Western Digital also updated its fourth-quarter forecast, reporting that revenue is slated to come in at $3.46 billion, above its previous estimate of about $3.4 billion.
WDC stock soared 4.7% after hours yesterday.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
