Stocks making the biggest moves after hours: Square, Alcoa, American Outdoor Brands & more

Check out the companies making headlines after the bell:

Square — Shares of Square rose nearly 1% in after-hours trading after CEO Jack Dorsey announced the digital payments company will create an open-source, developer platform focused on bitcoin. Dorsey said the platform will have "the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services."

Alcoa — The global aluminum producer saw its equity rise 0.9% after reporting better-than-expected second-quarter earnings. Alcoa posted adjusted earnings of $1.49 per share, topping Wall Street's estimate of $1.29 per share, according to FactSet. The company also reported revenue of $2.83 billion versus analysts' $2.65 billion projection.

Moderna — The pharmaceutical company's stock jumped 8% during extended trading after an announcement that it will be added to the S&P 500, replacing Alexion Pharmaceuticals. Moderna is joining the index prior to the opening of trade on July 21, according to the S&P Dow Jones Indices. AstraZeneca is acquiring Alexion, according to the release announcing the index change.

American Outdoor Brands — Shares of American Outdoor Brands sunk about 12% after the outdoors equipment supplier reported fiscal fourth-quarter sales below what analysts had expected, according to Factset. Per-share profit topped estimates, however.

Valero Energy — The energy producer's stock jumped slightly in after-hours trading after the company's board declared a regular quarterly cash dividend of 98 cents a share. Valero, which operates 15 petroleum refineries, has seen its stock climb 18% in 2021 amid pent-up demand for travel and oil.

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