Stocks making the biggest moves after hours: Nikola, Twilio, Novavax and more

Check out the companies making headlines after the bell

Disney — Disney's stock jumped 4% after the closing bell. Disney reported third-quarter financial results that beat analysts' expectations for earnings but fell short of revenue predictions. Disney posted earnings of 8 cents per share excluding items on revenue of $11.78 billion compared to estimates of a loss per share of 64 cents on revenue of $12.37 billion, according to Refinitiv. The company's operating income suffered a $3.5 billion hit from parks being closed during the quarter.

Activision Blizzard — Shares of Activision Blizzard fell 1% in extended trading Tuesday following the release of its second-quarter financial results. Activision Blizzard reported revenue of $2.08 billion compared to analysts' estimates of $1.70 billion, according to Refinitiv. The company also reported earnings of 81 cents per share.

Twilio — Twilio's stock dropped 5% in after-hours trading. The cloud communications company posted a double beat of earnings and revenue estimates by analysts polled by Refinitiv. Twilio reported earnings of 9 cents per excluding items, topping analysts' expectations for a loss of 9 cents per share. Twilio also recorded revenue of $401 million, above the $368 million forecast by analysts.

Nikola — The hybrid truck manufacturer's stock tanked 17% in extended trading after the company reported its second-quarter results, the company's first financial report since going public. Nikola posted a loss of 16 cents per share on solar revenue of $36,000. The company said it plans to begin fleet testing Tre electric trucks in 2021.

WW International — Shares of WW International, formerly Weight Watchers, were down 3% during extended trading after the company missed estimates by analysts polled by Refinitiv for the second quarter. WW International reported revenue of $334 million, shy of Wall Street predictions of $340 million. WW reported adjusted earnings of 67 cents per share.

Novavax — The biotechnology company's shares saw a volatile after-hours trading session, at one time plummeting as much as 32%, after releasing early coronavirus vaccine trial data. Novavax announced its vaccine candidate produced neutralizing antibodies in trial participants, but many safety concerns still surround the potential vaccine.

Beyond Meat — Shares of Beyond Meat fell 6% in extended trading after the company reported second-quarter financial results. The meat substitute maker's revenue of $113.3 million surpassed Refinitiv analysts' estimate of $99.7 million.

Walmart — Walmart's stock fell 1.5% in extended trading after it was reported that the company has delayed the launch of Walmart+, a subscription service meant to compete with Amazon Prime, for the second time this year, according to Vox.

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