Stocks making the biggest moves after hours: Meta, IBM, Chipotle, ServiceNow and more

Published Wed, Apr 24 20245:04 PM EDTUpdated Wed, Apr 24 20245:17 PM EDT

Check out the companies making headlines after the bell : Align Technology — The orthodontics technology company added 3.6% after beating analysts' expectations for its first-quarter results. Align posted adjusted earnings of $2.14 per share on revenue of $997.4 million, higher than the $1.97 in earnings per share on revenue of $974 million that analysts polled by LSEG had expected. Meta Platforms — Shares of the tech titan plummeted about 12% after the parent company of Facebook issued lighter-than-expected second-quarter revenue guidance . However, Meta beat analysts' expectations on both its top and bottom lines in the first quarter of the year. Ford Motor — The automobile stock rose 2% after posting a first-quarter adjusted earnings beat and raising its adjusted free cash flow outlook for 2024. On the other hand, Ford's first-quarter revenue came in below expectations. Ethan Allen Interiors — Shares slipped 4% after the home furnisher reported results from its fiscal third quarter. Ethan Allen's adjusted earnings came out to 48 cents per share, down from 86 cents per share in the year-ago quarter. The company's $146.4 million revenue was also down 21% from the same period in 2023. International Business Machines — The global information technology company slid 6.6% after hours. First-quarter revenue of $14.46 billion missed consensus estimates of $14.55 billion, per LSEG. IBM said foreign exchange would prove a two-percentage-point headwind to 2024 revenue growth. IBM also agreed to buy HashiCorp for $6.4 billion in enterprise value. HashiCorp shares jumped more than 4%. Whirlpool — The home appliance company added 2% after a first-quarter earnings beat. Whirlpool reported adjusted earnings of $1.78 per share on revenue of $4.49 billion, higher than the consensus estimate of $1.68 per share in earnings on revenue of $4.42 billion, according to LSEG. Chipotle Mexican Grill — Shares of the burrito chain rose more than 3% after posting first-quarter profits that were well above analysts' estimates. Chipotle earned $13.37 per share, excluding items, outpacing the $11.68 per share LSEG estimate, as traffic to its restaurants was robust. Lam Research — The wafer fabrication equipment provider slid 2%. For the fiscal third quarter, Lam Research posted adjusted earnings of $7.79 per share on revenue of $3.79 billion. Analysts polled by LSEG anticipated earnings of $7.30 per share and $3.72 billion in revenue. The company also issued strong guidance on adjusted earnings per share for the current quarter. ServiceNow — The digital workflow company dropped 5% after it narrowly beat analysts' expectations for revenue in the first quarter. Revenue came in slightly higher than the Street's forecast at $2.6 billion, versus the $2.59 billion anticipated, per LSEG. Adjusted earnings also surpassed estimates. Churchill Downs — The horse-racing and casino gaming company climbed 5.4% postmarket. First-quarter earnings per share, excluding items, as well as revenue and adjusted earnings before interest, taxes, depreciation and amortization, all exceeded analysts' consensus estimates, according to StreetAccount. United Rentals — The equipment rental company added 2.4% after posting a first-quarter adjusted earnings and revenue beat. United Rentals also lifted its revenue forecast for the full year of 2024. — CNBC's Christina Cheddar-Berk, Darla Mercado and Scott Schnipper contributed reporting.