Check out the companies making headlines after the bell.
Tesla — Shares slid 3.6% after the electric vehicle maker said income and GAAP earnings tumbled more than 20% from the same quarter a year ago. Adjusted earnings per share were in line with Refinitiv’s consensus estimate, while revenue was ahead of expectations at $23.33 billion compared with the expected $23.21 billion. Competitor Rivian was down 0.7% following news that the company has increased and extended its credit facility. Lucid, which is focused on luxury electric vehicles, slipped 0.1% after hours.
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Las Vegas Sands — The stock rose 4.3% after the casino and resort company issued quarterly results. Las Vegas Sands posted adjusted earnings of 28 cents per share in the first quarter, a larger gain than the 20 cent consensus estimate of analysts polled by Refinitiv. The company also beat expectations for revenue, reporting $2.12 billion compared with the $1.85 billion estimate. Wynn Resorts gained 3%.
IBM — Shares of the technology service company advanced 2.3% after hours following a mixed first-quarter earnings report. The company reported adjusted earnings per share of $1.36, beating the consensus estimate of analysts polled by Refinitiv by 10 cents. But IBM’s $14.25 billion in quarterly revenue was under the $14.35 billion figure anticipated by Wall Street.
Lam Research — The maker of semiconductor equipment slid 0.7% after giving weak guidance. For its fiscal fourth quarter, the company anticipates adjusted earnings of $5 per share and $3.1 billion in revenue. Consensus estimates from Refinitiv show Wall Street expects $5.63 in earnings per share and $3.47 billion in revenue. That guidance overshadowed Lam’s performance in its third fiscal quarter, when it beat expectations on the top and bottom lines.
Zions Bancorporation — Shares dropped 4% after the regional bank reported lower-than-expected earnings for the first quarter. Zions reported earnings per share of $1.33, falling short of analysts’ expectations of $1.53, according to Refinitiv. The bank also reported $679 million in net interest income, while analysts forecasted $687.5 million, per StreetAccount. Zions had rallied on Wednesday, gaining 7.4% during the day’s trading session, as shares of several other regional banks were lifted amid reports that show deposits are stabilizing after the banking crisis last month.
Alphatec — The medical technology stock tumbled 6.9%. Alphatec said it acquired all assets of REMI Robotic Navigation System from Fusion Robotics for $55 million. The company also raised its 2023 revenue guidance on the back of strong preliminary results from the first quarter. Alphabet preliminarily reported between $108 million and $109.5 million in first-quarter revenue, while analysts polled by FactSet estimated $101.6 million.
SL Green Realty – Shares gained 2.7% in extended trading after SL Green said that its Manhattan same-store office occupancy was 90.2% as of March 31, slightly ahead of the company’s expectations. The real estate investment trust, a major office landlord in New York City, posted a first-quarter loss of 63 cents per share, slightly wider than the loss of 61 cents per share that was forecasted by analysts, according to FactSet. Net rental revenue came in at $174.6 million, compared to analysts’ estimates of $182.6 million, per StreetAccount.
— CNBC’s Pia Singh and Darla Mercado contributed reporting