Check out the companies making the biggest moves midday: Tesla – Tesla shares dropped more than 12%, a day after the EV maker reported weak auto revenue and warned of slower growth in 2024. Several firms cut their share price targets on Tesla and have turned more cautious on the stock in the near term. American Airlines – The airline stock popped 10% after topping earnings expectations on the top and bottom lines. American Airlines posted adjusted earnings of 29 cents per share on $13.06 billion in revenue. That came in ahead of the 10 cents per share and $13.02 billion in revenue anticipated by analysts polled by LSEG. IBM — Shares jumped 10% after the company reported an earnings beat postmarket Wednesday. Adjusted earnings per share came in at $3.87 for the fourth quarter, topping the $3.78 expected from analysts polled by LSEG. Revenue was $17.38 billion, versus the consensus estimate of $17.30 billion. Boeing — Shares declined more than 6% after Bank of America lowered its rating to neutral from buy. The company said Boeing is unlikely to meet its production goals for 2025 and 2026 in light of regulators’ move to ground the 737 Max 9 after the Alaska Airlines Flight 1282 incident and the Federal Aviation Administration’s recent decision to halt 737 Max production expansion . ResMed — The medical device company added nearly 7% after topping earnings estimates postmarket Wednesday. ResMed’s adjusted earnings were $1.88 per share for its fiscal second quarter, compared to the $1.77 per share expected from analysts polled by StreetAccount. Revenue came in at $1.16 billion, ahead of the $1.15 billion expected. Humana — The health-care stock tumbled 12% after the insurer warned soaring medical costs would weigh on its earnings. Humana expects adjusted earnings of about $16 per share for 2024, significantly below the $29.10 per expected from analysts polled by LSEG. Lam Research — Shares climbed almost 4% following the company’s earnings and revenue beat after the bell Wednesday. Adjusted earnings in the fiscal second quarter were $7.52 per share, versus the $7.12 per share consensus estimate, per LSEG. Revenue was $3.76 billion, topping the $3.71 billion expected by analysts. Comcast — Shares of Comcast rose 3.8% after the company reported adjusted earnings of 84 cents per share compared to 79 cents per share, expected, according to analysts surveyed by LSEG. Revenue came in at $31.25 billion, while analysts expected $30.51. Comcast also reported fewer broadband customers lost than expected and raised its dividend by 7%. Northrop Grumman — The defense stock fell nearly 7% after Northrop Grumman said it took a $1.17 billion charge related to the U.S. Air Force’s next-generation B-21 bomber. Nokia — U.S.-listed shares of the Finnish telecommunications company popped 11% after Nokia said it would begin a two-year 600-million euro share buyback this quarter. The company also reported a 23% decline in net sales for the fourth quarter from a year prior and comparable operating profit that fell 27% year over year. United Rentals — The stock jumped almost 13%. The equipment rental company beat fourth-quarter estimates after the bell Wednesday. United Rentals’ adjusted earnings per share, revenue and adjusted earnings before interest, taxes, depreciation, and amortization all topped consensus estimates, per FactSet. Avis Budget Group — Shares of Avis Budget Group rose 2.6% after Deutsche Bank upgraded the stock to buy from hold, saying it’s a “steady operator” that can deliver earnings. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. — CNBC’s Hakyung Kim, Samantha Subin, Tanaya Macheel and Sarah Min contributed reporting.
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