IBM, CSX, Tesla, Lam Research and more
The IBM logo displayed on a smartphone.
Rafael Henrique | SOPA Pictures | LightRocket | Getty Images
Find out which companies are hitting the headlines after the bell:
IBM – The tech company saw its shares fall more than 5% in extended trading following a third-quarter shortfall. its two main 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, higher than Refinitiv’s estimate of 39 cents per share. Its revenue was $ 3.29 billion, compared to an expected $ 3.11 billion, according to Refinitiv.
Las Vegas Sands – Shares of the casino operator fell more than 2% after the company posted larger-than-expected quarterly losses and revenue below analysts’ expectations. Its quarterly revenue was $ 857 million, well below Refinitiv’s consensus estimate of $ 1.34 billion.
Lam Research – Shares of the semiconductor company fell more than 2% in extended trading following a disappointing quarterly report. Lam Research posted revenue of $ 4.304 billion in its first fiscal quarter, slightly missing the estimate of $ 4.322 billion, according to FactSet. Its earnings per share, however, are higher than expected.
Tesla – Shares of the electric vehicle company edged down in after-hours trading, even after the company posted better-than-expected third-quarter earnings and revenue. The record results are due to improved gross margins of 30.5% on its automotive business and 26.6% overall, two records for at least the last five quarters.