July 18, 2024

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Stocks making the biggest moves after hours: NFLX, TSLA, and IBM

Stocks making the biggest moves after hours: NFLX, TSLA, and IBM

Tesla factory in Tilburg, Netherlands.

Jasper Gwenen | bloomberg | Getty Images

Check out which companies are making headlines in extended trading.

Netflix — Shares of the streaming giant fell more than 5% after publishing its quarterly results Wednesday after hours. The company said it was too early to assess the effects of its campaign on password sharing and revenue from its ad-supported offerings. In the most recent quarter, Netflix posted earnings of $3.29 per share on revenue of $8.19 billion. Analysts surveyed by Refinitiv called earnings of $2.86 per share and revenue of $8.3 billion.

IBM — Shares of the business services company fell 0.7% after its mixed earnings report for the second quarter. The company reported revenue of $15.48 billion, missing Wall Street expectations of $15.58 billion, according to Refinitiv. IBM reported adjusted earnings of $2.18 per share, which was higher than analyst estimates of $2.01 per share.

Tesla – Tesla shares fluctuated near a flatline after announcing its second-quarter earnings. While the company reported record quarterly revenue, operating margins also fell to 9.6%, the lowest in the past five quarters due to price cuts and incentives.

United Airlines Shares of United Airlines jumped 2.5% after its second-quarter profit and revenue beat analyst expectations despite disruption to flights at its Newark, New Jersey, hub. The company reported adjusted earnings of $5.03 per share and total revenue of $14.18 billion. Meanwhile, analysts polled by Refinitiv estimated earnings at $4.03 per share and revenue of $13.91 billion. The company also announced a stronger-than-expected outlook for the current quarter. Shares of American Airlines rose 1.4% after the news.

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Zion Bancorp – The regional bank rose 7% after its earnings results beat analyst estimates. Zions reported earnings of $1.11 per share in the second quarter, while the analyst consensus estimate was $1.08, according to FactSet.

Las Vegas Sands — The resort developer’s stock is down nearly 3%. The beat action came though on the top and bottom lines. Las Vegas Sands reported adjusted earnings of 46 cents per share on revenue of $2.54 billion in the second quarter. Analysts polled by Refinitiv had forecast earnings of 43 cents per share on revenue of $2.39 billion.

Discover Financial – Shares of the digital banking company fell 13% after second-quarter results missed analyst estimates. Discover Financial reported earnings of $3.54 per share on revenue of $3.88 billion in the second quarter. Analysts expected earnings of $3.67 per share and revenue of $3.88 billion, according to FactSet. Find out what has been revealed in discussions with regulators about the issue of ‘misclassified card product’. The company has also temporarily halted share buybacks.