Investing.com -- Shares of Coherent extended gains around 11 AM on Monday, trading nearly 13% higher, after Bloomberg reported that the company's Chief Executive Officer Jim Anderson will join President Trump's delegation to a summit with Chinese President Xi Jinping in Beijing.

Elon Musk, Larry Fink, and David Solomon are among executives invited to be part of the U.S. delegation to China, according to a White House official.

Executives from Boeing, GE Aerospace, Cargill, Illumina, Visa, Micron, Qualcomm, Cisco, Coherent, Blackstone, Citi, Mastercard, Meta, and Apple are also expected to join, the White House official said.

Trump will travel to China this week to meet Xi Jinping. The visit, from May 13-15, will be the first to China by a U.S. president in nearly a decade and comes at a pivotal moment for ties between the world's two largest economies.