Electric vehicles (EV) line up in front of a Tesla dealership in Melbourne on April 19, 2023.
Wilhelm West | AFP | Getty Images
Check out the companies making headlines after the bell.
Tesla – Shares slipped 3.6% after the electric vehicle maker said revenue and GAAP earnings fell more than 20% from the year-ago quarter. Adjusted earnings per share were in line with Refinitiv’s consensus estimate, while revenue came in ahead of expectations at $23.33 billion, compared to the $23.21 billion expected. competitor Rivian fell 0.7% after it was announced that the company had increased and expanded its credit facility. Clearwhich focuses on luxury electric vehicles slipped 0.1% after the close.
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 20-cent consensus estimate by analysts polled by Refinitiv. The company also beat revenue expectations, reporting $2.12 billion versus the estimate of $1.85 billion. Wynn Resorts 3% gained.
IBM – Shares of the technology services company rose 2.3% after the close after a mixed earnings report for the first quarter. The company reported adjusted earnings per share of $1.36, beating the consensus estimate by analysts polled by Refinitiv by 10 cents. But IBM’s quarterly revenue of $14.25 billion was below the $14.35 billion Wall Street had been expecting.
Lam Research — The semiconductor equipment maker slipped 0.7% after issuing weak guidance. For the fourth fiscal quarter, the company expects adjusted earnings per share of $5 and revenue of $3.1 billion. Consensus estimates from Refinitiv show Wall Street expecting earnings per share of $5.63 and revenue of $3.47 billion. That guidance overshadowed Lam’s performance in the fiscal third quarter, when it beat expectations for revenue and earnings.
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, according to Refinitiv, falling short of analysts’ expectations of $1.53. The bank also reported $679 million in net interest income, while analysts were forecasting $687.5 million per StreetAccount. Zions rallied on Wednesday, gaining 7.4% during the day’s trading session, as shares of several other regional banks were boosted on reports showing deposits are stabilizing after last month’s banking crisis.
alphatec — The medical technology stock plunged 6.9%. Alphatec said it acquired all of Fusion Robotics’ REMI Robotic Navigation System assets for $55 million. The company also raised its revenue guidance for 2023 on strong preliminary results from the first quarter. Alphabet preliminary reported first-quarter revenue of between $108 million and $109.5 million, while analysts polled by FactSet estimated $101.6 million.
SL Green Realty – Shares rose 2.7% in extended trading after SL Green said its Manhattan office occupancy rate came in at 90.2% on March 31, slightly above the company’s expectations. Real Estate Investment Trust, a major office leasing company in New York City, posted a loss of 63 cents per share in the first quarter, slightly more than the 61 cents per share loss analysts had been expecting, 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 coverage