Check out the companies that made headlines after the bell: International Business Machines — The tech giant fell 6% after IBM failed to raise its full-year earnings outlook despite beating earnings. According to LSEG, IBM’s first quarter earnings per share excluding items were $1.91, beating expectations of $1.81. Sales also exceeded expectations of $15.62 billion at $15.92 billion. Tesla — Shares fell more than 2% after CEO Elon Musk warned of a significant increase in capital spending to fund self-driving and humanoid robot ambitions. Shares rose as much as 4% shortly after the company announced first-quarter adjusted earnings per share of 41 cents, beating the 37 cents expected by analysts compiled by LSEG. However, Tesla’s revenue of $22.39 billion fell short of the consensus estimate of $22.64 billion. CSX — Transportation shares surged 6% after posting a profit of 43 cents per share in the first quarter, beating the 39 cents expected by analysts surveyed by FactSet. However, CSX’s revenue of $3.48 billion was slightly below expectations of $3.49 billion. Texas Instruments — Semiconductor shares soared 10% after LSEG said it expected current-quarter earnings to be in the range of $1.77 to $2.05 per share, compared to a consensus of $1.57. Similarly, the company expects revenue to be between $5.0 billion and $5.4 billion, compared to analysts’ expectations of $4.86 billion. Texas Instruments also had its best performance in the first quarter, both in terms of sales and bottom line. Southwest Airlines — Shares fell 3% after the airline reported first-quarter adjusted earnings of 45 cents per share on revenue of $7.27 billion, falling short of analysts’ expectations of 47 cents per share and revenue of $7.27 billion, according to FactSet. Lam Research — According to LSEG, the global tipped tool maker posted a 2% increase in its fiscal third quarter adjusted earnings of $1.47 per share and revenue of $5.84 billion, beating analyst estimates of $1.36 billion and $5.78 billion, respectively. Lam Research’s earnings and revenue outlook for the current quarter also exceeded analysts’ expectations. ServiceNow — The AI-powered software company reported first-quarter revenue and revenue that beat Wall Street expectations. However, the integration of recent acquisition Almis weighed on the company’s outlook, and the stock price fell more than 13%. For the full year of 2026, the company’s subscription revenue, including Almis’ cybersecurity business, is expected to increase more than 22% to a range of $15.74 billion to $15.78 billion. Previously, the company had expected subscription revenue to be $15.55 billion. Molina Healthcare — The managed healthcare company’s stock rose slightly after reaffirming its 2026 forecast. Molina had first-quarter sales of $10.8 billion and earned earnings of $2.35 per share, excluding items. Analysts surveyed by FactSet expected Mr. Molina to post earnings of $10.87 billion and revenue of $1.90 per share. United Rentals — Shares rose more than 15% after the equipment rental company raised its full-year revenue forecast to a range of $16.9 billion to $17.4 billion. The company said it expects momentum heading into its busiest season. Churchill Downs — The racetrack owner added 2% after posting first-quarter adjusted earnings of $1.21 per share and revenue of $663 million. Analysts polled by FactSet expected revenue of $661.2 million, compared to $1.01 million. Knight-Swift Transportation — The transportation stock fell nearly 3% after reporting first-quarter revenue of $1.85 billion, but below analysts’ expectations of $1.86 billion, according to FactSet. The company’s operating profit for the quarter was $49.8 million, compared to the consensus estimate of $87 million. —CNBC’s Christina Cheddar Berk contributed reporting.
