Stocks making the biggest moves after hours: IBM, CSX, Tesla, Lam Research & more
Check out the companies making headlines after the bell:
IBM — The tech company saw its stock dropping more than 5% in extended trading following a revenue miss in the third quarter. its top two business segments — global services and the Cloud & Cognitive Software business — fell short of estimates.
CSX Corporation — Shares of the railroad giant climbed more than 3% after a stronger-than-expected earnings report. CSX posted earnings of 43 cents per share, above Refinitiv estimate of 39 cents per share. Its revenue totaled $3.29 billion, versus $3.11 billion expected, according to Refinitiv.
Las Vegas Sands — Shares of the casino operator dipped over 2% after the company posted wider-than-expected quarterly loss and revenue that was lower than analysts' expectations. Its quarterly revenue came in at $857 million, much lower than a Refinitiv consensus estimate of $1.34 billion.
Lam Research — The semiconductor company's stock fell more than 2% in extended trading following a disappointing quarterly report. Lam Research posted revenue of $4.304 billion in its fiscal first quarter, slightly missing estimate of $4.322 billion, according to FactSet. Its earnings per share came in above expectations, however.
Tesla — Shares of the electric vehicle company edged lower in after-hours trading even after the company posted earnings and revenue in the third quarter that beat expectations. The record results were driven by improved gross margins of 30.5% on its automotive business and 26.6% overall, both of which are records for at least the last five quarters.