Check out the companies making headlines in midday trading. Union Pacific – Shares of the freight operator rose 2.1% after the company reported earnings per share of $2.51, while analysts polled by LSEG, formerly known as Refinitiv, reported earnings of $2.44. dollars forecast. However, the company’s third-quarter revenue of $5.94 billion missed analysts’ estimates of $5.99 billion. Las Vegas Sands – The casino operator rose 2.8% after beating third-quarter revenue estimates and pointing to a recovery in Macau and Singapore. Las Vegas Sands posted revenue of $2.8 billion, beating the $2.73 billion expected by analysts surveyed by LSEG. American Airlines – Shares rose 0.7% in midday trading despite the airline reporting weaker-than-expected third-quarter earnings and revenue. However, better-than-expected operating results and margins helped lift shares and sales in the Atlantic and Pacific regions. AT&T – The telecommunications giant rose 6.4% after a third-quarter profit surge. The company reported adjusted 64 cents per share and revenue of $30.4 billion, while analysts polled by LSEG forecast 62 cents per share and $30.19 billion. Netflix – The streaming giant rose 16% after reporting a third-quarter profit surge driven by stronger-than-expected subscriber growth. Netflix added 8.76 million subscribers in the quarter, while analysts polled by StreetAccount forecast 5.49 million. Lam Research – Semiconductor stocks fell more than 6.2% after Lam’s fiscal second-quarter forecast fell short of Wall Street expectations. This beat the previous quarter’s earnings and revenue, which beat estimates. Tesla – Shares of the electric vehicle maker fell 9.3% on Thursday after the company missed third-quarter profit and sales expectations. Several Wall Street analysts lowered their price targets on the company following the disappointing results, citing that more pressure on margins is likely ahead. Zions Bancorporation – Shares fell 9.6% after third-quarter earnings fell short of Wall Street estimates. The company reported earnings per share of $1.13, while analysts polled by LSEG forecast $1.15. Zscaler – Shares of the cloud security company fell about 1% after Jefferies upgraded to “buy” on Thursday, citing upside on 2024 earnings estimates. Blackstone – Shares fell 7.9% after the investment firm’s weaker-than-expected report. Blackstone reported earnings per share of 94 cents and revenue of $2.32 billion. Analysts surveyed by LSEG had expected earnings per share of $1.01 and revenue of $2.51 billion. —CNBC’s Alex Harring, Hakyung Kim, Samantha Subin and Tanaya Macheel contributed reporting.
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October 20, 2023
October 28, 2023