After-hours movers: Tesla disappoints, IBM shines
After-Hours Stock Movers:
Tesla (NASDAQ:TSLA) shares fell 3% after fourth quarter results missed consensus estimates on the top and bottom line. Tesla said its vehicle volume growth rate may be notably lower in 2024 than the growth rate achieved in 2023, as its teams work on the launch of the next-generation.
IBM (NYSE:IBM) stock gained 4.8% after it reported earnings and revenue that beat consensus estimates. Looking forward, the company expects constant currency revenue growth consistent with its mid-single digit model.
Las Vegas Sands (NYSE:LVS) climbed 2% after it reported fourth quarter revenue that was slightly higher than consensus, while EPS was slightly lower than expected. Management said results reflect the ongoing improvement in the operating environment in both Macao and Singapore.
Lam Research (NASDAQ:LRCX) climbed 1.4% after it reported better than expected earnings per share in the second quarter, along with solid guidance. The stock trended higher for days heading into the print.
ServiceNow (NYSE:NOW) declined 1.6% despite reporting EPS that was better than the average analyst estimate.
Seagate Technology (STX) climbed 1% after reporting a surprise profit instead of a loss for the quarter, while revenue was in-line. Seagate also issued guidance that didn’t disappoint relative to published expectation.
Hexcel Corp . (NYSE:HXL) declined 9% after reporting fourth quarter results that were worse than expected, along with 2024 guidance that trailed estimates.
By Louis Juricic
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