Stocks making the biggest moves after hours: Tesla, Ford, PayPal and more

Market Insider

SpaceX owner and Tesla CEO Elon Musk reacts during a conversation at the E3 gaming convention in Los Angeles, June 13, 2019.

Mike Blake | Reuters

Check out the companies making headlines after the bell:

Tesla shares surged more than 14% during extended trade after a big earnings beat. Tesla reported earnings of $1.86 per share excluding certain items, far more than the 42 cent loss per share analysts anticipated. Revenue came in at $6.30 billion, just shy of the $6.33 billion Wall Street had expected, according to Refinitiv.

“We are highly confident in exceeding 360,000 deliveries this year,” said the company in its earnings report.

Shares of Ford sank nearly 4% after the company cut its full year outlook and posted mixed earnings for its third quarter. Ford cited fourth-quarter headwinds like lower China volume and higher warranty costs since its last full year guidance.

For its third quarter, the automaker reported earnings of 34 cents, exceeding the 26 cents Wall Street expected, according to Refinitiv. Automotive revenue came in at $33.93 billion, just shy of the $33.98 billion analysts expected.

PayPal shares jumped more than 9% after the bell following its third-quarter earnings that topped Wall Street’s expectations. The online payments giant posted earnings of 61 cents on revenue of $4.38 billion, exceeding the earnings of 52 cents on revenue of $4.35 billion analysts expected, according to Refinitiv consensus estimates.

Microsoft shares slipped 1% before recovering most of those losses after the company reported better-than-expected earnings for its first quarter. The tech giant posted earnings of $1.38 per share on revenue of $33.06 billion, while Wall Street expected earnings of $1.25 per share on revenue of $32.23 billion, according to Refinitiv consensus estimates.

Shares of eBay dropped more than 3% despite the company reporting a third-quarter earnings beat on the top and bottom line. The e-commerce retailer reported earnings of 67 cents per share, while analysts expected 64 cents. Revenue came in at $2.65 billion, just above the $2.64 billion expected, according to Refinitiv consensus estimates.

Shares of Las Vegas Sands slipped 1% then settled near its closing price after the company’s third-quarter revenue fell short off expectations. The casino and resort company brought in $3.25 billion in revenue, compared to the $3.29 billion Wall Street forecast, according to Refinitiv. Las Vegas Sands matched earnings estimates of 75 cents per share.

Spirit Airlines shares jumped nearly 5% after the bell following the company’s announcement that it will purchase 100 Airbus aircraft, with the option to buy an additional 50 planes. Spirit’s memorandum of understanding includes a mix of Airbus A319, A320, and A321 models, according to a press release. The aircraft are planned for delivery through 2027.

The budget airline also reported third-quarter adjusted earnings of $1.32 per share on revenue of $992 million, while analysts anticipated a $1.23 EPS and revenue of $987 million, according to Refinitiv.

Align Technology shares spiked nearly 9% after the bell following the company’s third-quarter earnings beat. The manufacturer of orthodontic equipment reported earnings of $1.28 per share on revenue of $607 million, compared to the $1.14 EPS and $594 million Wall Street expected, according to Refinitiv.

Align expects fourth-quarter revenue between $640 million and $650 million, above the $639 million analysts had forecast.

Shares of Lam Research rose 5% after the bell following its first-quarter earnings that topped analyst estimates. The chip-maker reported earnings of $3.18 per share excluding certain items and revenue of $2.17 billion. Analysts expected earnings of $3.01 per share and revenue of $2.16 billion, according to Refinitiv consensus estimates.

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