IBM, Tesla, Moderna and more
Check out the companies making headlines in after-hours trading. Southwest Airlines — Shares of the airline gained 2% on the back of a surprise quarterly profit . Southwest also said that demand and fares are both improving. The company reported adjusted earnings of 11 cents per share, while analysts polled by LSEG had expected a loss of 3 cents per share. Revenue came out at $6.95 billion, meanwhile, beating analysts’ consensus estimate of $6.92 billion, per LSEG. Tesla — The electric vehicle stock, which has shone greater attention to its robotics and humanoid ambitions in recent months, fell nearly 2% after reporting mixed third-quarter results. The company beat third-quarter revenue estimates with a 12% increase to $28.1 billion on the back of strong automotive sales. However, earnings of 50 cents per share after adjustments fell short of the LSEG estimate of 55 cents per share. International Business Machines — Shares of the tech company slumped about 4% after its software revenue came out in line with the Street’s estimates, while its consulting and infrastructure businesses exceeded projections. IBM still reported a beat on the top and bottom lines . IBM earned $2.65 per share, excluding items, on revenue of $16.33 billion. Analysts surveyed by LSEG called for earnings of $2.45 per share and revenue of $16.09 billion. Moderna — Moderna announced topline results from a Phase 3 study of its investigational cytomegalovirus, or CMV, vaccine that did not meet its primary efficacy endpoint of preventing CMV infection in select female participants. Shares of the pharmaceutical giant fell nearly 6% on the back of the announcement. Moderna said it doesn’t expect any impact to its 2025 financial guidance. Las Vegas Sands — The casino and resort company’s shares jumped more than 6% after market close. For the third quarter, Las Vegas Sands posted adjusted earnings of 78 cents per share on revenue of $3.33 billion. Analysts surveyed by LSEG had estimated 60 cents in earnings per share and $3.03 billion in revenue. The company’s second-quarter outlook was also upbeat. Knight-Swift Transportation — The freight transportation company’s stock fell more than 2% after reporting mixed third-quarter results. Knight’s adjusted earnings of 32 cents per share fell short of the 37 cents per share analysts had predicted. However, revenue of $1.93 billion topped LSEG estimates of $1.90 billion. Lam Research — Shares of the chip equipment maker rose more than 1% as fiscal first-quarter earnings outpaced estimates. Lam earned $1.26 per share, excluding items, on $5.32 billion in revenue, beating estimates of $1.22 per share in earnings and $5.23 billion in revenue. The company’s forecast for the second quarter of adjusted earnings of $1.05 to $1.25 per share, and revenue of $4.9 billion to $5.5 billion, also topped estimates. Alcoa — Shares of the aluminum production company shed 1% after Alcoa reported mixed results. While the company posted a loss of 2 cents per share, excluding items, narrower than the loss of 3 cents per share expected, revenue of $3 billion came up shy of the $3.13 billion estimate. Molina Healthcare — The managed health services provider plummeted 17% on the back of its significantly weaker-than-expected quarterly results. For the third quarter, Molina posted earnings of $1.84 per share, excluding items, while analysts expected earnings of $3.90 per share. The company’s revenue of $11.48 billion for the period exceeded analysts’ consensus estimate of $10.93 billion, meanwhile. Kinder Morgan — The pipeline operator’s stock fell nearly 2% even as third-quarter earnings rose, helped by increased volumes of natural gas flowing through its system. The company earned 29 cents per share on an adjusted basis, on sales of $4.15 billion. — CNBC’s Christina Cheddar Berk and Sean Conlon contributed reporting.
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