Global Courant 2023-04-20 02:04:23
Electric Vehicles (EV) stand in front of a Tesla dealership in Melbourne on April 19, 2023.
William West | AFP | Getty Images
Check out the companies making headlines after the bell.
Tesla — Shares fell 3.6% after the electric vehicle maker said revenue and GAAP earnings fell more than 20% from the same quarter a year ago. Adjusted earnings per share were in line with Refinitiv’s consensus estimate, while revenue beat expectations at $23.33 billion compared to the expected $23.21 billion. Competitor Rivian fell 0.7% following news the company has enlarged and expanded its credit facility. Brightwhich focuses on luxury electric vehicles fell 0.1% after hours.
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Las Vegas sand — The stock rose 4.3% after the casino and resort company released quarterly results. Las Vegas Sands posted adjusted earnings of 28 cents per share in the first quarter, larger than the consensus estimate of 20 cents from analysts polled by Refinitiv. The company also beat expectations for revenue, reporting $2.12 billion compared to the $1.85 billion estimate. Wynn Resorts gained 3%.
IBM — Shares of the technology services company rose 2.3% after hours after a mixed first-quarter earnings report. The company reported adjusted earnings per share of $1.36, beating the consensus estimate of analysts polled by Refinitiv by 10 cents. But IBM’s quarterly revenue of $14.25 billion was below the $14.35 billion figure expected by Wall Street.
Lamb research — The semiconductor equipment maker fell 0.7% after weak guidance. For the fiscal fourth quarter, the company expects adjusted earnings of $5 per share and $3.1 billion in revenue. Consensus estimates from Refinitiv show that Wall Street expects earnings per share of $5.63 and revenue of $3.47 billion. That outlook overshadowed Lam’s performance in the third fiscal quarter, when it beat sales and profit expectations.
Zion Ban Corporation — Shares fell 4% after the regional bank reported lower-than-expected first-quarter earnings. Zions reported earnings per share of $1.33, which Refinitiv said fell short of analyst expectations of $1.53. The bank also reported $679 million in net interest income, while analysts forecast $687.5 million, per StreetAccount. Zions had recovered on Wednesday, gaining 7.4% during the day’s trading session as shares of several other regional banks lifted amid reports showing deposits are stabilizing after last month’s banking crisis.
Alphatec — The share of medical technology plummeted 6.9%. Alphatec said it had acquired all assets of REMI Robotic Navigation System from Fusion Robotics for $55 million. The company also raised its 2023 revenue guidance based on strong preliminary results from the first quarter. Alphabet tentatively reported between $108 million and $109.5 million in first-quarter revenue, while analysts polled by FactSet estimated $101.6 million.
SL Green Real Estate – Shares rose 2.7% in extended trading after SL Green said office occupancy at the same store in Manhattan was 90.2% as of March 31, slightly above the company’s expectations. The Real Estate Investment Trust, a major New York City office lessee, reported a loss of 63 cents per share in the first quarter, slightly above the 61 cents per share loss analysts had predicted, according to FactSet. Net rental income was $174.6 million, compared to analyst estimates of $182.6 million per StreetAccount.
— CNBC’s Pia Singh and Darla Mercado contributed reporting
