Check out the companies making headlines in midday trading. Union Pacific – Shares of the freight operator rose 2.6% after the company reported earnings per share of $2.51, while analysts polled by LSEG, formerly known as Refinitiv, forecast $2.44. 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 3.8% 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 2% 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 7.5% 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 15% 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 5% 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 plunged more than 8% on Thursday after the company missed third-quarter profit and sales expectations. Several Wall Street analysts lowered their price targets for the company after the disappointing results, pointing out that even more pressure on margins is likely to come. Zions Bancorporation – Shares fell 4.6% 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 – The cloud security company’s shares rose 1% after Jefferies upgraded to “buy” on Thursday, citing upside on its 2024 earnings estimates. Blackstone – Shares fell more than 5% after the investment firm’s report was weaker than expected. 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.
Source : www.cnbc.com