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Gymboree Corp. plans to close about 350 stores as part of its restructuring effort following its chapter 11 bankruptcy filing in June, the children’s apparel retailer said late Tuesday. “With the right size store base, the company will be able to focus resources on locations with the greatest potential and improve the profitability of the overall business,” it said in a statement. Most of the stores targeted for closure are Gymboree and Crazy 8. Gymboree has contracted with Great American Group and Tiger Group to handle the closing sales which will begin on July 18. It did not say how many employees will be affected.

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The Dow Chemical Co. said late Tuesday it has agreed to sell a portion of its corn-seed business in Brazil to an arm of China’s CITIC Ltd. conglomerate for $1.1 billion. The deal is meant to satisfy commitments to Brazilian regulators in connection to Dow’s merger with DuPont , the company said in a statement. The deal is contingent upon the closing of the Dow and DuPont merger, in addition to other closing conditions, it said. The merger is expected to generate cost synergies of approximately $3 billion and growth synergies of $1 billion, and both companies have reaffirmed their expectation to close the merger in August, with the intended spin-offs to occur within 18 months of closing. Shares of Dow were down 0.7% in late trading after ending the regular session up 0.1%.

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Shares of Ocular Therapeutix Inc. were halted in the extended session Tuesday after the Food and Drug Administration told the drug maker that it could not approve a marketing application for an eye-pain drug in its current form. Ocular Therapeutix shares were halted at $7.55 after hours, following a 17% gain during the regular session. That gain followed the company’s announcement late Monday that it had amended a marketing application for its drug Dextenza to address FDA concerns with its manufacturing process.

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Zimmer Biomet Holdings Inc. shares declined in the extended session Tuesday after the maker of orthopedic and spinal medical devices announced its chief executive was stepping down and said it expects second quarter earnings to be at the low end of its guidance. Zimmer shares declined 2% to $124 after hours. Zimmer said CEO David Dvorak is stepping down effective immediately, and that Chief Financial Officer Daniel Florin will serve as interim CEO until a successor is named. In a separate statement, the company said it expects per-share earnings “to be at or near the bottom of its previously issued guidance range of $2.08 to $2.13”. Analysts polled by FactSet expect $2.11 a share.

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The American Petroleum Institute reported Tuesday a much larger-than-expected drop of 8.1 million barrels in U.S. crude supplies for the week ended July 7, according to sources. “We are finally seeing the impact from cumulative OPEC cuts, lower U.S. output and strong demand,” said Phil Flynn, senior market analyst at Price Futures Group. The API data also showed a fall of 801,000 barrels in gasoline supplies, while inventories of distillates were up 2.1 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a decline of 2.6 million barrels in crude inventories. August crude was at $45.71 a barrel in electronic trading, up from the contract’s settlement of $45.04 on the New York Mercantile Exchange.

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Logitech International said late Tuesday it has agreed to buy Astro Gaming, a maker of headsets for video games, for $85 million in cash. The acquisition is expected to close in early August, Logitech said in a statement. The deal is expected to be “slightly dilutive to the bottom line” in the first year as Logitech integrates the business and invests to expand Astro internationally, the company said.

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Shares of Cohu Inc. rallied in Tuesday’s extended session after the semiconductor equipment company posted unaudited second-quarter results that beat expectations. Cohu reported preliminary second-quarter revenue of $93 million, ahead of its forecast of $86 million and beating an average estimate of $86.2 million projected by analysts in a FactSet survey. The company cited strong demand in the automobile and mobility industries for the strong revenue growth. Cohu is scheduled to release second-quarter earnings on Aug. 2. Shares rose more than 4% after hours.

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Twitter Inc. announced Intuit executive Ned Segal as its chief financial officer Tuesday. Segal will be taking over in late August from Anthony Noto, who had been working as Twitter’s chief financial officer as well as its chief operating officer. Noto will remain with Twitter as its chief operating officer. Segal was most recently senior vice president of finance for the small business group at Intuit Inc. Before that, he was the CFO at RPX, a patent risk management solutions company. “I’ve long admired Twitter’s impact in the world, and I’m committed to helping the company build on its recent momentum, allocate resources against its greatest priorities, and continue toward its goal of GAAP profitability and beyond,” Segal said in the press release. Segal will receive an annual salary of $500,000 as well as close to 800,000 restricted stock units over four years and close to 400,000 performance-based restricted stock units. Alongside the COO appointment, Twitter announced that it would release its second-quarter earnings on July 27 before the market opens. Shares of Twitter were up 0.5% in after hours trading. Twitter shares have gained 30% in the past three months, compared to the S&P 500’s gain of 3%.

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