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Stocks making the biggest moves after hours: Tesla, IBM, T-Mobile and more

Garry Wills by Garry Wills
October 23, 2024
in Business Finance
Stocks making the biggest moves after hours: Tesla, IBM, T-Mobile and more
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Check out the companies making headlines after the bell : T-Mobile U.S. — The telecommunications giant rose about 3% after posting a third-quarter earnings surprise to the upside. T-Mobile reported earnings per share of $2.61 on $20.16 billion in revenue, while analysts polled by LSEG had been looking for earnings of $2.42 per share on revenue of $20.01 billion. Tesla — Shares leapt 9%. The electric vehicle manufacturer reported third-quarter adjusted earnings of 72 cents per share, beating Wall Street’s estimates of 58 cents, per LSEG. Revenue came in slightly below expectations at $25.18 billion, while analysts were looking for $25.37 billion. Mattel — The toymaker added 3% after adjusted earnings came in at $1.14 per share for the third quarter. That is well ahead of the consensus forecast of 95 cents from analysts polled by LSEG. On the other hand, Mattel saw $1.84 billion in revenue for the quarter, slightly below the $1.86 billion estimate from analysts. International Business Machines — The tech giant fell 3% on Wednesday after reporting mixed third-quarter results. While the company’s adjusted earnings of $2.30 per share outpaced the consensus estimate of $2.23 per share reported by LSEG, revenue fell short. IBM said revenue rose 1.5% to $14.97 billion from a year ago, but that was shy of the $15.07 billion. The company has been seeing strong artificial intelligence demand but its consulting revenue was flat. Las Vegas Sands — The casino operator added nearly 3% despite disappointing analysts’ expectations on both the top and bottom lines. Las Vegas Sands reported adjusted earnings of 44 cents per share, while analysts had expected 53 cents, per LSEG. The company’s $2.68 billion revenue also fell short of the expected $2.78 billion figure. Lam Research — The semiconductor company climbed nearly 5% after reporting fiscal first-quarter adjusted earnings and revenue that beat the Street’s estimates. Lam Research also issued strong guidance for earnings and revenue in the current quarter. Viking Therapeutics — The biopharmaceutical company added less than 1% after reporting a third-quarter loss of 22 cents per share, which was narrower than the FactSet consensus estimate of 24 cents per share. The company’s third-quarter R & D expense of $22.8 million was also less than the expected $24.9 million. LendingClub — The financial services firm jumped 6% after posting third-quarter earnings of 13 cents per share, almost double the 7 cents per share analysts were seeking, according to FactSet. LendingClub’s revenue of $201.9 million also exceeded the expected $190.4 million. ServiceNow — Shares slipped about 1% after the software company posted its third-quarter results. ServiceNow reported adjusted earnings of $3.72 per share on revenue of $2.80 billion. That topped Wall Street’s estimates for $3.46 per share in earnings and $2.74 billion in revenue, per LSEG. Western Union — The money transfer service provider saw shares tick up 1%. Western Union narrowly topped estimates in the third quarter, reporting adjusted earnings of 46 cents per share on revenue of $1.04 billion. Analysts were looking for 44 cents per share in earnings and revenue of $1.03 billion. The upper end of its full-year guidance came in slightly higher than consensus estimates. Whirlpool — The home appliance company climbed more than 3% after reporting third-quarter earnings that topped expectations. Whirlpool reported $3.43 in adjusted earnings per share, while Wall Street analysts were looking for $3.19, according to LSEG. Net sales were down year over year for the firm. Newmont — The gold mining company tumbled nearly 6%. Newmont reported adjusted earnings of 81 cents per share in the third quarter, while analysts polled by FactSet sought 86 cents per share. Revenue also missed the mark, arriving at $4.61 billion, versus the Street’s expectation for $4.67 billion. Molina Healthcare — Shares surged 10% after the managed care company posted third-quarter earnings results that beat analysts’ expectations on the top and bottom lines. Molina Healthcare posted adjusted earnings of $6.01 per share, better than the LSEG consensus estimate of $5.81 in earnings per share. Revenue of $10.34 billion exceeded the forecast $9.91 billion. Peloton — Peloton shares were down more than 1% in extended trading. However, during the regular session, the connected fitness company’s stock spiked 11% after Greenlight Capital’s David Einhorn told investors at a conference that the stock was undervalued , a person familiar with the hedge fund manager’s remarks told CNBC. — CNBC’s Christina Cheddar-Berk, Alex Harring, Darla Mercado, Sarah Min and Jesse Pound contributed reporting.



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