Stocks making the biggest moves after hours: Meta Platforms, Chipotle Mexican Grill, ServiceNow and more

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Meta headquarters in Menlo Park, California, US, on Thursday, July 21, 2022.
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Check out the companies making headlines after the bell

Meta Platforms – Shares of Meta Platforms jumped nearly 6% on stronger-than-expected quarterly results. The social media company issued optimistic sales guidance for the third quarter and showed an 11% uptick in revenue.

Chipotle Mexican Grill — The burrito chain’s stock tumbled 9% in extended trading after sales fell short of Wall Street expectations. Chipotle reported adjusted earnings of $12.65 a share on $2.51 billion in revenue. Analysts polled by Refinitiv had expected EPS of $12.31 and revenues of $2.53 billion.

Imax — Imax shares added 5% after reporting better-than-expected quarterly results. The entertainment technology company reported adjusted earnings of 26 cents a share. That topped the 16 cents expected by analysts, per Refinitiv. Revenue came in at $98 million, above the $86.6 billion expected.

Lam Research – Shares of the semiconductor firm got a more than 2% boost after the company reported a strong quarter. Lam posted adjusted earnings of $5.98 per share, beating estimates by 91 cents per share, per Refinitiv. Revenue of $3.21 billion beat expectations of $3.13 billion. Financial guidance topped estimates as well.

ServiceNow — ServiceNow dropped 3% despite reporting a beat on the top and bottom lines. The cloud computing company posted second-quarter adjusted earnings of $2.37 per share on revenue of $2.15 billion. Analysts had expected per-share earnings of $2.05 on revenue of $2.13 billion. The company also unveiled new generative artificial intelligence tools.

eBay – The e-commerce stock slid about 5% after eBay issued weak guidance for the current quarter. The company said it anticipates third-quarter adjusted earnings per share of 96 cents to $1.01 per share, while analysts polled by FactSet anticipated $1.02 in earnings. The company posted $1.03 in adjusted earnings per share on revenue of $2.54 billion. Analysts called for earnings of 99 cents per share on revenue of $2.51 billion, according to Refinitiv.

Sunnova Energy – Shares of the solar company slid more than 7% after hours following weaker-than-expected financial results for the second quarter. Sunnova posted a wider-than-expected loss of 74 cents per share, while analysts expected a loss of 42 cents per share, according to FactSet. Revenue came in at $166.4 million compared to expectations of $195.5 million.

Align Technology – The orthodontics company saw its shares pop 12% after it posted adjusted earnings of $2.22 per share for the second quarter, beating estimates of $2.03 per share, according to Refinitiv. Revenue for the quarter also topped estimates, and revenue guidance for the year was above analyst expectations.

Mattel – Shares of the toymaker were flat. Mattel announced the departure of Richard Dickson, chief operating officer, who is leaving to become CEO of Gap. The company also posted second-quarter adjusted earnings of 10 cents a share on revenue of $1.09 billion. Analysts called for a per-share loss of 2 cents and revenue of $1 billion, according to Refinitiv.

Seagate Technology — Shares fell 2% in extended trading. The data storage company posted revenue for the fourth fiscal quarter that came in at $1.60 billion, while analysts called for revenue of $1.68 billion, per FactSet.

L3Harris Technologies — The aerospace and defense stock fell more than 2% even after earnings came in above expectations. L3Harris reported adjusted earnings of $2.97 a share on $4.69 billion in revenue, and lifted earnings and revenue guidance. Analysts anticipated $2.94 in EPS on revenue of $4.37 billion for the latest quarter, according to Refinitiv. Aerojet Rocketdyne shares added more than 1% on news the Federal Trade Commission will not block its acquisition by L3Harris.

— CNBC’s Tanaya Macheel, Sarah Min and Darla Mercado contributed reporting

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