Stocks making the biggest moves after hours: Tesla, IBM, Las Vegas Sands and more
Check out the stocks making headlines in extended trading. Tesla — Shares of the electric vehicle company dropped more than 3% after Tesla’s fourth-quarter revenue and profit fell short of analysts’ estimates. Adjusted earnings came in at 71 cents per share, while revenue was $25.17 billion. Analysts polled by LSEG, formerly known as Refinitiv, called for earnings of 74 cents a share and revenue of $25.62 billion. International Business Machines — The computer giant added more than 5% in extended trading. IBM surpassed analysts’ expectations in the fourth quarter , posting adjusted earnings of $3.87 per share on revenue of $17.38 billion. Analysts polled by LSEG anticipated earnings of $3.78 per share and revenue of $17.30 billion. Las Vegas Sands — The casino operator jumped more than 2% after reporting revenue that beat Wall Street estimates. Las Vegas Sands posted $2.92 billion in revenue for the fourth quarter, while analysts polled by LSEG called for $2.90 billion. Adjusted earnings missed the mark, however, coming in at 57 cents a share, while analysts predicted 61 cents a share. Hexcel — The carbon fiber maker slid 9% postmarket as fourth quarter EPS and revenue both missed analysts’ consensus estimates, according to FactSet. Full-year earnings per share guidance of $2.10 to $2.30 excluding one-time items also missed a consensus estimate of $2.48 per share. United Rentals — The largest equipment rental company in the world rose 3% after hours following a fourth-quarter earnings release that included a $1.5 billion buyback and a 10% dividend increase. United Rentals also said 2024 revenue would rise to a range of $14.65 billion to $15.15 billion from $14.33 billion in 2023, while adjusted EBITDA would grow to $6.9 billion to $7.15 billion from $6.857 billion last year. ResMed — Shares popped 6.5% after the medical device company posted a solid beat on earnings. For the fiscal second quarter, ResMed reported adjusted earnings of $1.88 per share on revenue of $1.16 billion. Analysts expected earnings of $1.77 per share and $1.15 billion in revenue, per StreetAccount. Lam Research — The maker of semiconductor manufacturing equipment rose 1% after hours following the release of fiscal second-quarter results showing earnings per share and revenue both topping analysts’ estimates in the December quarter. Lam also gave 2024 guidance of $6.50 to $8.00 a share in earnings against a consensus estimate of $6.63 per share, according to FactSet. Columbia Banking System — Shares tumbled more than 6% after the company posted net interest income that fell short of analysts’ expectations in the fourth quarter. Columbia reported net interest income of $453.6 million, while analysts anticipated $468.4 million. Operating earnings per share also declined from the year-ago period. ServiceNow — The software company slipped 1%, even as the company posted fourth-quarter beats on the top and bottom lines. ServiceNow reported adjusted earnings of $3.11 per share on revenue of $2.44 billion. Analysts called for earnings of $2.79 per share and revenue of $2.40 billion, per LSEG. — CNBC’s Scott Schnipper and Brian Evans contributed reporting. This post has been syndicated from a third-party source. View the original article here.
