Stocks making the biggest moves after hours: GameStop, Chewy, Nikola and more

Check out the companies making headlines after the bell.

GameStop — The video game retailer’s stock dipped 6% in extended trading after the company released its financial results for the first quarter. GameStop reported a loss of $1.61 per share excluding some items with revenue of $1.02 billion, while analysts polled by Refinitiv expected a narrower loss of $1.27 per share on revenue of $1.07 billion. The retailer’s comparable store sales declined 17%, excluding stores closed due to the coronavirus pandemic, but e-commerce sales jumped 519% compared to the same quarter last year, according to a company statement.

Chewy — The online pet supplies retailer’s stock tumbled 3% in extended trading after the company provided first-quarter financial results. Chewy said it had a loss of 12 cents per share with revenue of $1.62 billion, while analysts expected a wider loss of 16 cents per share with revenue of $1.57 billion, according to Refinitiv. This is the first quarter the company has reported positive adjusted EBITDA, according to a statement from Chewy CEO Sumit Singh. Chewy’s stock hit a 52-week high earlier Tuesday. 

Nikola — Shares of the electric truck company dropped 8% after the closing bell. The stock has experienced major swings after it went public last week through a reverse merger. Nikola’s shares more than doubled on Monday even though the auto manufacturer does not expect to have any revenue until next year.

Five Below — The retailer’s stock rose 10% in after-hours trading after the company announced its first-quarter financial results. Five Below reported a loss of 91 cents per share on revenues of $200.9 million, whereas FactSet analysts had expected a loss of 34 cents per share on revenues of $230.6 million. The company said it is not releasing further earnings guidance given the uncertainty related to the Covid-19 pandemic but expects to add 100 to 120 net stores this year.

AMC Entertainment — Shares of the movie theater company climbed 6% in extended trading after AMC released its first-quarter financial results. The company reported $942 million in revenue, while analysts polled by Refinitiv had expected $951 million.