Check out which companies are making headlines after the bell Tuesday:

Apple - UBS initiated coverage of the iPad maker with a "buy" rating and a $740 price target. The stock was largely unchanged in extended-hours trading after slumping almost 1 percent in the regular session, finishing near $608 a share. (Click here for after-hours quote.)

EMC , IBM - UBS also initiated coverage of EMC with a "buy" rating and a $30 price target and IBM with a "neutral" rating and a $205 price target. (Click here for after-hours quotes.)

Cliffs Natural Resources - The mining company announced it will sell its Sonoma coal mine interest. In addition, the company also announced a quarterly dividend of $0.625 a share. Shares edged higher in extended-hours trading. (Click here for after-hours quote.)

Weight Watchers - The weight loss and packaged food company named Nicholas Hotchkin as its new CFO effective Aug. 20. Hotchkin was previously the senior vice president of finance at Staples . (Click here for after-hours quote.)

—By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC )

Questions? Comments? Email us at marketinsider@cnbc.com

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