After-Hours Stock Movers:

First Foundation (NYSE: FFWM) fell over 20% after it announced affiliates of Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, North Reef Capital and other investors have agreed to make individual investments aggregating to $228 million in the company. The company faces heavy commercial real-estate exposure, noted a report from the Wall Street Journal.

Simulations Plus (NASDAQ: SLP) fell 8% after it announced third quarter EPS that was slightly better than expected and updated guidance. Management said they continue to be cautiously optimistic about the funding environment for its biotech clients.

Rivian Automotive (NASDAQ: RIVN) declined 1.7%, paring gains after climbing 7% during the regular session following strong delivery figures for the second quarter.

Tesla (NASDAQ: TSLA) fell 0.7% after closing higher by over 10%. Earlier it published production and deliveries results for the second quarter. Analysts characterized its performance as a "positive surprise."