Stocks making the biggest moves after hours: Netflix, Tesla, J.B. Hunt and more
Check out the companies making headlines after the bell:
Netflix — Shares of the streaming service plummeted 10% in extended trading after releasing its second-quarter financial results. Netflix reported second-quarter earnings of $1.59 per share on revenues of $6.15 billion. Analysts polled by Refinitiv expected earnings of $1.81 per share on revenues of $6.08 billion. Netflix also announced that Chief Content Officer Ted Sarandos will become co-CEO with current CEO Reed Hastings.
Tesla — Tesla's stock fell nearly 2% in extended trading after dropping about 3% during the day. Tesla's vehicle registrations nearly halved in California during the second quarter as the coronavirus hurt production and auto sales, according to a report released earlier Thursday.
J.B. Hunt — Shares of the transportation company climbed 3% after the final bell. J.B. Hunt posted second-quarter earnings of $1.14 per share on revenues of $2.15 billion, beating analysts' expectations. Analysts polled by Refinitiv expected earnings of 80 cents per share on revenues of $2.02 billion.
PPG Industries — PPG Industries' stock jumped 4% in extended trading upon the release of its second-quarter financial results. PPG reported adjusted second-quarter earnings of 99 cents per share on revenues of $3.02 billion. Earnings went above expectations of analysts polled by FactSet, who expected earnings of 70 cents per share on revenues of $2.81 billion. PPG noted one of the strong points for the quarter came from its global architectural coatings businesses, driven by a do-it-yourself demand during the coronavirus.
Norwegian Cruise Lines, Carnival — Shares of cruise lines fell after the market closed and the CDC announced it will ban U.S. cruises through September. Norwegian Cruise Lines and Carnival's stock both fell 1% after hours. The CDC's original order was set to expire July 24 but the agency cited "ongoing" coronavirus outbreaks on ships for its continued ban.
CBL & Associates — The mall owner's stock dropped 2% after the market closed. The move comes after CBL adjusted its forbearance agreement on notes due in 2023 and 2026 after the company missed interest payments on the notes due in June and failed to pay within the 30-day grace period, according to an SEC filing.