Check out the companies making headlines after the bell:
Moderna — Shares of Moderna whipsawed in extended trading after rising nearly 7% earlier Wednesday. The stock has been on an upward progression since the biotechnology company released data Tuesday that shows its coronavirus vaccine produced antibodies in all 45 patients in an early trial.
Virgin Galactic — The space travel company's stock climbed 5% in extended trading after Virgin Galactic announced Michael Colglazier as its new CEO. Colglazier was most recently the president and managing director of Disney Parks International.
American Airlines — Shares of American Airlines fell 2% in extended trading after the company warned 25,000 employees, around 20% of its workforce, about potential furloughs and layoffs coming in the fall as hopes for a rebound in air travel demand look slimmer. Shares of other airlines also fell during extended trade after posting strong gains earlier in the day on positive vaccine news, with Delta falling about 2%, Southwest down 1%, JetBlue moving 1% lower, and United dropping 1% after closing bell.
Carnival, Norwegian Cruise Line, Royal Caribbean — Cruise line stocks fell in extended trading, reversing a boost they saw earlier in the day from promising news on a coronavirus vaccine. Shares of Carnival dropped 2%, Norwegian fell 2% and Royal Caribbean moved 1% lower.
Alcoa — Shares of the aluminum manufacturer spiked 6% after the bell upon posting its second-quarter financial results. Alcoa reported a second-quarter loss of 2 cents per share excluding items on revenues of $2.15 billion. Refinitiv analysts expected a 38 cent loss per share on revenues of $2.11 billion. Alcoa said that some demand was down as customers' production levels diminished due to the coronavirus.
Twitter — The social media company's stock fell 3% in extended trading after hackers appeared to compromise the Twitter accounts of Elon Musk, former president Barack Obama and Bill Gates, among a number of others, in a cryptocurrency scam. Twitter said it was looking into the issue.
Dell, VMware — Dell's stock rose about 8% while shares of VMware climbed 3% during extended trading. Dell said on Wednesday that the tech company is exploring a spin-off of its 81% ownership of VMware. The potential spin-off would not happen until at least September 2021.