Stocks making the biggest moves after hours: American Outdoor Brands, Lululemon and more

National Rifle Association members look over pistols in the Smith & Wesson display at the 146th NRA Annual Meetings & Exhibits on April 29, 2017 in Atlanta, Georgia.
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National Rifle Association members look over pistols in the Smith & Wesson display at the 146th NRA Annual Meetings & Exhibits on April 29, 2017 in Atlanta, Georgia.

Check out the companies making headlines after the bell:

American Outdoor Brands shares skyrocketed 20 percent in the extended session after a first-quarter earnings beat. The Smith & Wesson parent company earned 21 cents per share for the quarter, up 9 cents from Wall Street's expectations of 12 cents per share. It also beat estimates on sales, reporting $138.8 million in revenues versus the $134.5 million expected by analysts.

The company also issued a strong earnings forecast of 11 to 15 cents per share for its second quarter, beating Wall Street's estimates of 8 cents per share.

Lululemon's stock rose more than 7 percent during after-hours trading following the release of strong quarterly results. The athletic apparel retailer earned 71 cents per share, 22 cents higher than Wall Street estimates of 49 cents per share. It also reported revenues of $724 million versus analysts' estimates of $668 million.

Additionally, the Vancouver-based company beat estimates for comparable sales, reporting an increase of 20 percent versus analysts' estimates of 9.6 percent.

Ulta Beauty shares dropped more than 4 percent in the extended session after issuing weak guidance and missing analysts' estimates for comps. Wall Street expected the company to report comparable sales to increase by 6.9 percent, but Ulta reported an increase of only 6.5 percent.

The beauty chain earned $2.46 per share, beating Wall Street estimates of $2.41. Its revenues of $1.49 billion for the quarter were in line with analysts' expectations.

Ambarella's stock plunged more than 14 percent during after-hours trading after issuing weak revenue guidance for the next quarter. The semiconductor designer said it expects sales to reach $55.5 million to $58.5 million, while Wall Street expected a forecast of $73.4 million in sales.