AeroVironment Inc. shares rose in the extended session Tuesday after the drone maker’s results topped Wall Street estimates.

AeroVironment AVAV, -1.81% shares advanced 4.7% to $27.30 on moderate volume as unmanned aircraft sales boosted revenue.

Nike Inc. NKE, -1.18% shares were flat at $108.02 after the company announced it is officially looking for a new chairman to succeed co-founder Phil Knight.

Shares of bond insurers were split following a report that Puerto Rico would make a July 1 payment on its debt. MBIA Inc. MBI, -0.37% shares rose 1.7% to $6.11 on moderate volume and shares of Assured Guaranty Ltd. AGO, +0.62% shares fell 2.2% to $23.47 on moderate volume.

Gainers

Fitbit Inc. FIT, -0.94% shares jumped 15% after Mark Sue, an analyst at RBC Capital Markets, initiated coverage of the stock with an outperform rating and a price target of $45. Since its debut on June 18, Fitbit shares have risen roughly 80% on expectations of further growth of the wearable market.

Pentair PLC PNR, -4.16% shares finished up 6.7% after news that activist-investment firm Trian Fund Management has taken a 7.2% stake in the valve-and-pump maker and is urging it to get bigger, according to The Wall Street Journal.

Wynn Resorts Ltd. WYNN, -7.01% is among the best S&P 500 performers following comments from a Deutsche Bank analyst who noted that while there are no major improvements in Macau’s gambling industry, the situation has stabilized. “We didn’t get the sense another meaningful leg down was around the corner and believe current mass trends are showing stability,” said Carlo Santarelli in a report.

ConAgra Foods Inc. CAG, +1.24% rose after the company reported fiscal fourth-quarter earnings and said that it plans on exiting the private-label business as it focuses on growing its consumer and commercial foods business.

Blackstone Group BX, -1.80% said it would sell its U.S. security services business AlliedBarton to French investment firm Wendel for about $1.67 billion.

Decliners

Michael Kors Holdings Ltd. US:KORS fell for a sixth session in a row and as of midday Tuesday is the worst-performing S&P 500 component in the second quarter. The fashion retailer last month warned that first-quarter results are likely to disappoint.

Apollo Education Group Inc. US:APOL shares dropped 17% after fiscal-third-quarter earnings fell 27% as new enrollments shrank 13% from a year earlier to 29,400. The operator of the University of Phoenix said quarterly profit dropped to $48.1 million, or 44 cents a share, from $66 million, or 59 cents a share, a year earlier. Excluding items, the for-profit educator earned 53 cents a share. Revenue decreased 14% to $681.5 million.