Stocks making the biggest moves after hours: Netflix, Tesla, IBM and more
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The Tesla factory in Tilburg, Netherlands.
Jasper Juinen | Bloomberg | Getty Images
Check out the companies making headlines in extended trading.
IBM — The business services company’s shares shed 0.7% following its mixed second-quarter earnings report. The company posted revenue of $15.48 billion, missing Wall Street’s forecast of $15.58 billion, according to Refinitiv. IBM reported adjusted earnings of $2.18 per share, which was higher than analysts’ consensus estimate of $2.01 per share.
Tesla — Tesla shares fluctuated near the flatline following its second-quarter earnings announcement. While the company reported record-high quarterly revenue, operating margins also fell to 9.6%, the lowest level in the past five quarters due to price cuts and incentives.
United Airlines — United Airlines shares jumped 2.5% after its second-quarter earnings and revenue topped analysts’ expectations despite flight disruptions at its Newark, New Jersey, hub. The company posted adjusted earnings of $5.03 per share and total revenue of $14.18 billion. Meanwhile, analysts polled by Refinitiv had estimated $4.03 earnings per share and $13.91 billion in revenue. The company also announced a stronger-than-expected forecast for the current quarter. American Airlines shares gained 1.4% following the news.
Zions Bancorp — The regional bank stock rallied 7% after its earnings results topped analysts’ estimates. Zions posted $1.11 earnings per share in the second quarter, while analysts’ consensus estimates were $1.08, according to FactSet.
Las Vegas Sands — The resort developer’s stock declined nearly 3%. The action came despite a beat on the top and bottom lines. Las Vegas Sands posted adjusted earnings of 46 cents a share on revenue of $2.54 billion in the second quarter. Analysts polled by Refinitiv anticipated earnings of 43 cents per share on revenue of $2.39 billion.
Discover Financial — Shares of the digital banking company plunged 13% after its second-quarter results missed analysts’ estimates. Discover Financial posted $3.54 earnings per share on revenue of $3.88 billion in the second quarter. Analysts had anticipated $3.67 earnings per share and revenue of $3.88 billion, according to FactSet. Discover disclosed it’s in discussions with regulators over a “card product misclassification” issue. The company has also paused share buybacks.
