Check out the companies making headlines after the bell:
Netflix shares rose more than 1.5 percent after UBS upgraded the company to buy from neutral and raised its price target to $410. It said that after six months of under-performing, the investment bank thinks that the stock will rise as subscriber numbers grow.
Activision Blizzard shares dropped as much as 7 percent after hours as the video game company announced it was transferring publishing rights for its Destiny franchise to Bungie. Therefore, Activision will not include revenue, operating income or operating loss from the Destiny franchise in 2019.
Urban Outfitters shares fell as much as 2 percent despite the company announcing an increase in sales for the past two months of 2018 compared to 2017. The company said that its net sales increased 5 percent in 2018’s last two months compared to 2017’s. These sales were driven by double-digit growth digitally, which was partially offset by negative retail store sales.
Embraer shares rose 4 percent during after hours after the Brazilian government approved its partnership with Boeing. The two companies agreed on a joint venture last month. Boeing will have 80 percent ownership in the new company and Embraer will have 20 percent.