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Stocks making the biggest moves after hours: Netflix, Tesla, IBM and more – UnlistedNews

The Tesla factory in Tilburg, the Netherlands.

Jasper Juinen | Mayor Bloomberg | fake images

Check out the companies making headlines in extended trading.

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

IBM — Shares of the business services company lost 0.7% after its mixed second-quarter earnings report. The company posted revenue of $15.48 billion, below Wall Street’s forecast of $15.58 billion, according to Refinitiv. IBM reported adjusted earnings of $2.18 per share, which was higher than the consensus analyst estimate of $2.01 per share.

tesla — Tesla shares fluctuated near the flatline following its second-quarter earnings announcement. While the company reported record quarterly revenue, operating margins also fell to 9.6%, the lowest level in the last five quarters due to price cuts and incentives.

united airlines — United Airlines shares rose 2.5% after its second-quarter profit and revenue beat 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 surveyed by Refinitiv had estimated earnings per share of $4.03 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% on the news.

Bank of Zions — Shares of regional banks rose 7% after their earnings results beat analysts’ estimates. Zions posted earnings per share of $1.11 in the second quarter, while analyst consensus estimates were $1.08, according to FactSet.

las vegas sands — Shares of the resort developer fell nearly 3%. The action came despite a heartbeat in the top and bottom lines. Las Vegas Sands posted adjusted earnings of 46 cents per 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 earnings per share of $3.54 on revenue of $3.88 billion in the second quarter. Analysts had anticipated earnings per share of $3.67 and revenue of $3.88 billion, according to FactSet. Discover revealed that it is in talks with regulators about a “misclassification of card products” issue. The company has also halted share buybacks.


Sara Marcus
Sara Marcushttps://unlistednews.com
Meet Sara Marcus, our newest addition to the Unlisted News team! Sara is a talented author and cultural critic, whose work has appeared in a variety of publications. Sara's writing style is characterized by its incisiveness and thought-provoking nature, and her insightful commentary on music, politics, and social justice is sure to captivate our readers. We are thrilled to have her join our team and look forward to sharing her work with our readers.


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