Check out the companies making headlines in afternoon trading.
seagate technology — Shares of the data storage company soared more than 10% a day after Seagate posted beats on the top and bottom line for its fiscal second quarter. Seagate reported earnings of 16 cents per share on revenue of $1.89 billion. Analysts were calling for earnings of 10 cents per share on $1.83 billion in revenue, according to Refinitiv.
purlin Shares of the energy giant rose 4% a day after the company announced $75 billion buyback And said it would boost its dividend payout.
Tesla – Electric vehicle company shares climbed over 8% That came a day after Tesla posted quarterly results that were better than expected. The company beat analysts’ expectations on the top and bottom lines, according to Refinitiv.
Albemarle – Shares were up 2.6% later Piper Sandler launches coverage Of the stock being overweighted, the stock has been called a “lithium pure play on a going forward basis.”
joint rent Shares of the equipment rental company jumped 7% a day after posting its latest quarterly results. Although United Rentals didn’t meet analysts’ expectations for earnings per share, it was in line with Wall Street’s forecasts for revenue per FactSet. The company anticipates 2023 revenue of between $13.7 billion and $14.2 billion, according to FactSet, beating analysts’ estimates.
EVGO Electric charging company down 2.6% Downgraded by JP Morgan Neutralize overweight. The firm cited slower growth and higher capital intensity than earlier.
steel dynamics – The steel producer’s stock soared 9.5% after the company announced fourth-quarter earnings. The company posted adjusted earnings of $4.37 per diluted share, compared to analysts’ forecasts of $3.76, according to FactSet. Steel Dynamics also beat revenue expectations.
viasat — The satellite company fell 8% after William Blair outperformed the market. William Blair said the company sees a more balanced risk-reward ratio for the stock in 2023 after its outperformance so far.
Mobileye — Its shares jumped 2.5% after the autonomous driving tech company posted earnings and revenue that beat analysts’ expectations. Mobileye posted adjusted earnings per share of 27 cents on $565 million in revenue for the fourth quarter. Analysts expected earnings of 17 cents per share on $530.2 million in revenue, according to FactSet.
peloton – Digital Workout Company added 1% later Bank of America reiterates the stock as a buy ahead of its earnings report next week. The firm said it expects modest growth in subscription and churn numbers and expects the company to move closer to positive cash flow by 2024, says the company.
las vegas sands — Shares of the hotel and casino company rose more than 6% despite a weaker-than-expected fourth quarter. Las Vegas Sands reported an adjusted loss of 19 cents per share on revenue of $1.12 billion. Analysts polled by Refinitiv were expecting a loss of 9 cents per share on revenue of $1.18 billion. However, management struck a positive tone about the outlook for 2023 in Asia, particularly Macao, as China lifts travel restrictions.
AT&T — The telecom stock fell more than 2% on Thursday, giving some of its post-earnings pop back. The stock gained about 6.6% on Wednesday after reporting more wireless subscribers than expected for the fourth quarter.
Sherwin-Williams — Shares of the paintmaker fell more than 8% after reporting lower-than-expected sales in the fourth quarter. According to Refinitiv, Sherwin-Williams earned an adjusted $1.89 per share last quarter, which topped estimates by 2 cents. But revenue of $5.23 billion was less than the expectation of $5.26 billion. Guidance for sales and earnings was also lighter than expected as the company warned of limited visibility into the back half of 2023.
IBM — IBM shares plunged 4.9% after the company reported quarterly earnings on Wednesday. The computing company also said it would cut 3,900 jobs, hinting at possible attrition. It also said it expects revenue growth at the low end of its mid-single-digit model in 2023.
Southwest Airlines – Southwest Airlines shares fell 4.7% after the company reported Fourth quarter net loss of $220 million, partly because of the holiday debacle when it canceled 16,700 flights. This cost the company millions in revenue.
pfizer — Pfizer shares fell 1.7% UBS downgrades ratings on pharma stocks to neutral from buy rating. The firm said the estimates for the company’s Covid segment are very high.
Levi Strauss Levi Strauss shares rose 5.9% after the denim maker beat Wall Street estimates And shared optimistic sales guidance for the new fiscal year.
tractor supplies — Shares soared more than 5% after the company reported fourth-quarter earnings and revenue before the bell that beat expectations. Tractor Supply’s EPS came in at $2.43 versus analysts’ estimates of $2.35, according to Refinitiv.
— CNBC’s Michelle Fox, Alex Harring, Jesse Pound, Carmen Reinicke, Samantha Subin and Darla Mercado contributed reporting.