Check out the companies making headlines following the announcement: Align Technology. The orthodontic technology company gained 3.6% after its first-quarter results beat analysts’ expectations. Align posted adjusted earnings of $2.14 per share on revenue of $997.4 million, higher than the $1.97 earnings per share on revenue of $974 million that analysts polled by LSEG expected. Meta Platforms – Shares of the tech giant fell about 12% after parent company Facebook posted weaker-than-expected second-quarter revenue guidance. However, Meta beat analysts’ expectations on both revenue and profit in the first quarter of the year. Ford Motor — Auto stocks rose 2% after reporting first-quarter adjusted earnings and raising its 2024 adjusted free cash flow forecast. On the other hand, Ford’s first-quarter revenue was below expectations. Ethan Allen Interiors — Shares fell 4% after the home furnishings company reported fiscal third-quarter results. Ethan Allen’s adjusted earnings were 48 cents per share, compared with 86 cents per share in the year-ago quarter. The company’s revenue of $146.4 million was also down 21% from the same period in 2023. International Business Machines, a global information technology company, fell 6.6% in after-hours trading. First-quarter revenue of $14.46 billion missed the LSEG consensus estimate of $14.55 billion. IBM said foreign exchange would be a two percentage point drag on revenue growth in 2024. IBM also agreed to buy HashiCorp for a $6.4 billion enterprise value. HashiCorp shares jumped more than 4%. Whirlpool — The home appliance company gained 2% after rising first-quarter profit. Whirlpool reported adjusted earnings of $1.78 per share on revenue of $4.49 billion, above the consensus estimate of $1.68 per share on revenue of $4.42 billion, according to LSEG. Chipotle Mexican Grill – Restaurant Chain Stock burritos rose more than 3% after reporting first-quarter earnings that significantly beat analysts’ estimates. Chipotle earned $13.37 per share excluding merchandise, beating LSEG’s estimate of $11.68 per share as traffic to its restaurants was strong. Lam Research – Supplier of wafer production equipment fell in price by 2%. For its fiscal third quarter, Lam Research reported adjusted earnings of $7.79 per share on revenue of $3.79 billion. Analysts surveyed by LSEG expected earnings of $7.30 per share on revenue of $3.72 billion. The company also issued strong guidance for adjusted earnings per share for the current quarter. ServiceNow — Shares of the digital workflow company fell 5% after it barely beat analysts’ expectations for first-quarter revenue. Revenue was slightly above Street forecasts at $2.6 billion versus LSEG’s $2.59 billion estimate. Adjusted earnings also beat estimates. Churchill Downs — Shares of the horse racing and casino gaming company rose 5.4% after the sale. First-quarter earnings per share before items, as well as revenue and adjusted earnings before interest, taxes, depreciation and amortization, exceeded analysts’ consensus estimates, according to StreetAccount. United Rentals – The equipment rental company gained 2.4% after reporting adjusted earnings and revenue for the first quarter. United Rentals also raised its full-year 2024 revenue forecast. — CNBC’s Christina Cheddar-Burke, Darla Mercado and Scott Schnipper contributed reporting.
