Here’s a look at the companies making headlines after the bell: Align Technology — The orthodontic technology company’s first-quarter results topped analysts’ expectations, sending shares up 3.6%. Align reported adjusted earnings of $2.14 per share on revenue of $997.4 million, above the $1.97 per share on revenue of $974 million expected by analysts polled by LSEG. Meta Platforms – Shares of Facebook’s parent company plunged about 12% after the tech giant issued lower-than-expected second-quarter revenue guidance. However, Meta’s first-quarter revenue and profit exceeded analysts’ expectations. Ford Motor — The auto stock rose 2% after reporting better-than-expected first-quarter adjusted profit and raising its outlook for 2024 adjusted free cash flow. Ethan Allen Interiors — Shares fell 4% after the home improvement company reported fiscal third-quarter results. Ethan Allen’s adjusted earnings were 48 cents per share, down from 86 cents per share in the same period last year. The company’s revenue of $146.4 million was also down 21% from the same period in 2023. First-quarter revenue was $14.46 billion, below consensus estimates of $14.55 billion, according to LSEG. IBM said foreign exchange will hinder revenue growth by two percentage points in 2024. IBM also agreed to acquire HashiCorp for an enterprise value of $6.4 billion. HashiCorp shares rose more than 4%. Whirlpool — Shares of Whirlpool rose 2% after the appliance company beat first-quarter profit expectations. Whirlpool reported adjusted earnings of $1.78 per share on revenue of $4.49 billion, beating consensus estimates of $1.68 per share on revenue of $4.42 billion, according to LSEG. Chipotle Mexican Grill — Shares of Chipotle Mexican Grill rose more than 3% after the burrito chain reported first-quarter profit well above analysts’ expectations. Chipotle earned $13.37 per share, excluding items, beating LSEG’s estimate of $11.68 per share on strong traffic at its restaurants. Lam Research — a supplier of wafer manufacturing equipment fell 2%. Lam Research’s third-quarter adjusted earnings per share were $7.79 on revenue of $3.79 billion. Analysts polled by London Stock Exchange Group (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 quarter. ServiceNow — The digital workflow company’s first-quarter revenue slightly topped analysts’ forecasts, sending its shares down 5%. Revenue was $2.6 billion, slightly ahead of Wall Street’s forecast of $2.59 billion, according to LSEG. Adjusted earnings also beat expectations. Churchill Downs — The horse racing and casino gaming company’s shares rose 5.4% in after-hours trading. First-quarter earnings per share, excluding items, as well as revenue and adjusted EBITDA beat analysts’ consensus estimates, according to StreetAccount. United Rentals — Shares of United Rentals rose 2.4% after the equipment rental company reported better-than-expected first-quarter adjusted profit and revenue. United Rentals also raised its full-year 2024 revenue forecast.
