Allstate, AT&T, IBM, Tesla and more

Find out which companies are making headlines in the midday business.

AT&T – The telecom giant’s stock jumped 7% after the company beat earnings and revenue estimates for the last quarter. AT&T’s wireless revenue grew 5.6%.

Allstate – Shares of insurer Allstate fell 11% after the company said it would report a third-quarter loss following Hurricane Ian, which hit in September and increased losses related to disasters.

You’re here – Shares of electric carmaker Tesla fell 6% on Thursday, a day after the company reported third-quarter results that fell short of Wall Street revenue expectations. Tesla also warned of a delivery bottleneck in the last week of the quarter, but said it was moving to a smoother delivery pace.

IBM – Shares of the tech conglomerate rose 4.2% after beating high and low estimates for the last quarter, posting adjusted earnings of $1.81 per share on revenue of $14.11 billion. IBM also raised its revenue growth outlook for the year.

Las Vegas Sands – Shares of the hotel and casino operator rose 5.3% after the company reported mixed third-quarter results, including a bigger-than-expected loss and revenue that beat forecasts for analysts, according to Refinitiv. China’s Covid-19 policies have continued to pressure Macau businesses.

Alcoa – Shares of the aluminum producer rose 4.6% even after the company reported an unexpected third-quarter loss on Wednesday. Higher costs and lower aluminum prices weighed on the company’s results.

Datadog – Datadog shares jumped 4.8% after Canaccord Genuity upgraded the company to buy-hold, saying the stock’s beaten price is an attractive opportunity for investors to play in the software sector cloud.

Lam Research Society – Shares of Lam Research Corporation rose more than 5% on Thursday after the company reported an increase in profits amid improving supply chains. Cowen also called their results “impressive.”

Freeport McMoRan – Shares of Freeport McMoRan jumped more than 3% after the mining company announced its results on Thursday. The company reported third-quarter earnings of 26 cents per share on revenue of $5.00 billion, compared with analysts’ expectations of 24 cents per share and $4.88 billion in revenue. business, according to StreetAccount.

Vertiv Holdings – Former Emerson Network Power climbed 12% after reports that activist investor Starboard Value bought a position.

super microcomputer – The IT provider raised its “sales forecast by 15% at midterm, with profits up 42% at midterm”, according to Wedbush Securities. Stocks gained nearly 10%

Quest Diagnosis – Quest shares jumped 5.6% after reporting earnings that beat Wall Street expectations. The company reported third-quarter earnings of $2.36 per share, compared to StreetAccount’s estimate of $2.19. Its revenue of $2.49 billion beat the $2.35 billion expected by analysts, thanks to a rebound in performance from weaker volume trends earlier in the year.

Nvidia – Shares jumped 2.8% after Piper Sandler reiterated the overweight action, saying the tech company had strong performance in business units while facing near-term headwinds from excess inventory.

Nucor – Nucor climbed 3% after third-quarter earnings per share beat its mid-September forecast and sales beat analysts’ estimates.

Union Pacific – The Omaha-based railroad fell more than 5.8% after third-quarter freight revenue and carload volume missed analysts’ estimates, as compiled by StreetAccount.

Knight-Swift Transportation Holdings – The Phoenix-based trucker fell more than 4.5% after third-quarter earnings per share and fourth-quarter guidance missed analysts’ estimates.

Landstar system – Shares rose more than 2.8% a day after the trucker released fourth-quarter EPS and revenue guidance that beat analysts’ estimates.

American airlines – American Airlines shares fell 2.5% after the company reported earnings that beat Wall Street expectations and forecast a fourth-quarter profit, helped by strong travel demand.

Kinder Morgan — Shares fell 3.9% after the oil and gas pipeline operator reported third-quarter earnings per share results that missed analysts’ expectations, according to consensus estimates on StreetAccount. Kinder Morgan cited lower gasoline and diesel volumes in the quarter. The company also exceeded revenue forecasts.

– CNBC’s Samantha Subin, Sarah Min, Scott Schnipper, Alex Harring, Tanaya Macheel and Michelle Fox contributed reporting

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