Jen Van Santvoord rides her Peloton exercise bike at her home on April 07, 2020 in San Anselmo, California.
Ezra Shaw | Getty Images
Check out the companies making headlines after hours Wednesday.
Tesla — The electric car maker’s stock popped 3% after Tesla reported third-quarter earnings and revenue that topped analysts’ expectations at 76 cents per share and $8.77 billion, respectively. The profit results represent Tesla’s fifth consecutive quarter of positive earnings, the result of a record 139,300 delivered vehicles in the three months ended Sept. 30.
Chipotle Mexican Grill — The burrito chain saw its stock drop more than 5% in after-hours trading after the company said a shift to delivery orders ballooned costs and led to reduced drink sales in the third quarter. Chipotle topped profit expectations with per-share earnings of $3.76, but its net income fell to $80.2 million from $98.6 million in the year-ago period.
Las Vegas Sands — Shares of Las Vegas Sands rose about 5% in after-hours trading after the casino operator posted a smaller-than-expected loss for the third quarter and revenues larger than Wall Street’s consensus estimate. It reported a third-quarter loss of 67 cents per share on revenues of $586 million. Analysts had expected a loss per share of 73 cents on revenues of $579 million.
Align Technology — Shares of Align, the company that owns Invisalign teeth aligners, soared more than 20% after the bell thanks to better-than-expected shipments of its clear aligners in the third quarter. Align reported a profit of $2.25 per share, far exceeding consensus estimates of less than $1.
Peloton — Shares of the exercise equipment company shed 3% after Goldman Sachs downgraded the stock to neutral from buy. While Goldman analyst Heath Terry said he’s still optimistic in Peloton in the longer term, he advised clients to steer clear of the richly-valued equity over the next few months as investors have already pushed its price up more than 330% in 2020.
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