Wall Street benchmarks raced to new highs on Monday, and after the bell, there were more gainers to be had.
Engineering and procurement firm McDermott International Inc (NYSE:MDR) was like a fiddlers elbow after the bell, adding over 5% and then shedding 1.5% .
"Offshore-focused McDermott International said it would buy onshore-based Chicago Bridge and Iron."
— Airgeadais (@Airgeadais) 19 December 2017
The company announced a US$6bn merger with Chicago Bridge & Iron Company (NYSE:CBI). The latter saw shares add 1% after the bell.
It means McDermott shareholders will have a majority stake in the new company, which will be based in Houston, Texas.
Elsewhere, Roku Inc (NASDAQ:ROKU) added 2.41% to US$57.45 in extended hours. Broker heavyweight Morgan Stanley reported taking a 5.1% passive stake in the streaming device company.
Meanwhile, Kratos Defense and Security Solutions Inc (NASDAQ:KTOS) added nearly 3% to US$11.30 in the extended session. The information technology defense company announced that it received a US$27mln unmanned drone contract from the US government.