Stocks making the biggest moves after hours: KB Home, Hertz, Ally Financial and more

Finance

A construction worker walks past new homes under construction by developer KB Home in Valencia, California.

Jonathan Alcorn | Bloomberg | Getty Images

Check out the companies making headlines after the bell.

KB Home — The home construction company’s stock dipped 13% in extended trading after KB Home released its second-quarter earnings. The company reported earnings of 55 cents per share with revenue of $914 million, while analysts polled by Refinitiv anticipated earnings of 49 cents per share and revenue of $1.06 billion. KB Home said the coronavirus pandemic elevated the company’s order cancellation rate, and as a result, gross orders and net orders in the second quarter decreased 36% and 57%, respectively.

American Airlines — The airline’s stock fell 1% after the closing bell. Earlier on Wednesday, airline shares plunged after state officials in New York, New Jersey and Connecticut said they were requiring a two-week quarantine for travelers coming from coronavirus hot spots that include Alabama, Arkansas, Arizona, Florida, North Carolina, South Carolina, Washington, Utah and Texas. United Airlines also saw its shares drop about 1% in extended trading. 

Ally Financial — The financial services company’s stock rose 10% in after-hours trading after Ally and CardWorks announced a mutual agreement to terminate a proposed merger that was announced in February of this year. Covid-19’s impact on global markets and the economy was a major consideration for the boards of both companies, who approved the termination.

Hertz — Shares of bankrupt car rental company Hertz spiked 7% in extended trading. Jefferies said earlier Wednesday in a note that it believes AutoNation and Carmax are considering buying cars from Hertz.

Envista Holdings — The dental products company rose 6% in after-hours trading. John Rogers, chairman and co-CEO of Ariel Investments, labeled Envista one of his “value picks” on Closing Bell Wednesday. Rogers praised Envista’s products and reasoned, “People have to go to the dentist again.”

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