Check out the companies making headlines after the bell.
Tailored Brands — Shares of the Men's Wearhouse owner saw its stock soar 17% in extended trading after the company gave a business update following rumors that it was filing for bankruptcy. Tailored Brands said it had $201.3 million in cash and cash equivalents and that 44% of its stores are now open in the U.S. and Canada amid the coronavirus pandemic. The company also reported preliminary first-quarter revenue of $286.7 million, which the company said is down 60%. Analysts polled by FactSet had estimated $399.4 million.
Delta Airlines — The airline's stock fell 2% in extended trading after Delta announced it is issuing new debt to raise an additional $1.25 billion. Shares of American Airlines also fell 2% in extended trading. American CEO Doug Parker told shareholders on Wednesday that demand is returning slowly but the airline remains unsure of flight volume in fall 2020 or summer 2021, according to Reuters. United Airlines' stock also fell 2% in after-hours trading. United said Wednesday that passengers will have to answer a health self-assessment as they check-in for flights.
GrubHub — The food delivery service's stock rose 6% in extended trading. GrubHub announced Wednesday that it will merge with the European food delivery company Just Eat Takeaway.com. Sources told CNBC on Wednesday that Uber, which had been in negotiations with GrubHub, was left confused by the decision over disagreements. Uber's stock moved 1% lower after hours.
AMC Entertainment — The movie theater chain's stock climbed 1% after the closing bell. The company announced on its earnings call Wednesday that almost all of its theaters in the U.S. and UK will open with limited capacity for some highly anticipated film releases in July.
Royal Caribbean — The cruise operator's stock dipped 2% after the market closed. Cruise stocks initially saw a big boost earlier this week as the U.S.'s reopening progress gave investors hope about cruise bookings recovering. CNBC's Jim Cramer on Tuesday cautioned against getting into the surging airline and cruise stocks, saying those types of companies need "Category 4 hurricanes to keep moving." Shares of Norwegian Cruise Line and Carnival also dropped in after-hours trading Wednesday.
Source: cnbc.com
