In midday trading, several companies have been making headlines. One of these is Union Pacific, the freight operator, whose shares have increased 2.6% following a report of earnings per share of $2.51. This result exceeded the forecasted $2.44 analysts. However, the company’s third-quarter revenue of $5.94 billion fell short of the estimated $5.99 billion.
Another company on the rise is Las Vegas Sands, the casino operator, which saw a 3.8% increase after surpassing revenue estimates for the third quarter. The company also pointed towards a recovery in Macao and Singapore. Las Vegas Sands reported a revenue of $2.8 billion, exceeding the expected $2.73 billion forecasted analysts.
Despite posting weaker-than-expected earnings and revenue for the third quarter, American Airlines saw a 2% surge in their shares. This was largely due to better-than-expected operating income and margins, as well as increased revenue in their Atlantic and Pacific regions.
AT&T, the telecommunications giant, experienced a notable increase of 7.5% after beating third-quarter earnings expectations. The company reported an adjusted 64 cents per share on $30.4 billion in revenue, surpassing the forecasted 62 cents per share and $30.19 billion.
Netflix, the streaming giant, had an impressive increase of 15% following third-quarter earnings that exceeded expectations. This was primarily driven stronger-than-anticipated subscriber growth, with the addition of 8.76 million subscribers during the quarter. Analysts had only forecasted 5.49 million.
However, not all companies had positive outcomes. Lam Research, a semiconductor stock, saw a decline of over 5% as their forward guidance for the fiscal second quarter fell short of Wall Street’s expectations. This overshadowed their previous quarter’s earnings and revenue, which had beat estimates.
Tesla, the electric vehicle maker, experienced a significant drop of more than 8% after missing earnings and revenue expectations for the third quarter. As a result, several Wall Street analysts lowered their price targets for the company, foreseeing increased pressure on margins.
Zions Bancorporation also faced a setback, with shares pulling back 4.6% after third-quarter earnings fell short of Wall Street estimates. The company reported earnings per share of $1.13, while analysts had forecasted $1.15.
On a more positive note, stock in the cloud security firm Zscaler increased 1% after receiving an upgrade to buy from Jefferies. The upgrade was based on the potential upside to 2024 earnings estimates.
Finally, Blackstone, the investment firm, saw shares drop over 5% due to a weaker-than-expected report. Blackstone reported earnings per share of 94 cents and revenue of $2.32 billion, falling short of the anticipated $1.01 earnings per share and $2.51 billion in revenue.
As the trading day progresses, these companies will continue to shape the market, and investors will closely monitor their performance.