Tesla, Chevron, ServiceNow, Levi Strauss, IBM and more
A customer fills up at a Chevron gas station with prices above $4 per gallon in Seattle, Washington, U.S., Monday, March 7, 2022.
David Ryder | Bloomberg | Getty Images
Check out the companies making headlines by the hour.
Tesla — Shares rose 0.4% in volatile trading after the electric car maker reported fourth-quarter earnings and revenue that beat analysts’ expectations. However, Tesla’s gross margins came in at the lowest levels in the last five quarters.
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Chevron — Shares rose 2.7% after the oil company announced a $75 billion share buyback program.
Service Now — The software stock fell 4% after ServiceNow released its latest quarterly numbers. ServiceNow posted earnings per share of $2.28, beating a Refinitiv forecast of $2.02 per share. Revenue, meanwhile, matched a consensus estimate of $1.94 billion.
Levi Strauss — The denim company jumped 7% after earnings and revenue for the fourth quarter exceeded expectations. The company also shared full-year guidance showing earnings per share between $1.30 and $1.40, compared to StreetAccount’s estimate of $1.35.
Las Vegas Sands — Shares of the casino operator rose more than 4% after Las Vegas Sands posted its latest quarterly results. The company lost 19 cents per share on revenue of $1.12 billion. Analysts expected a loss of 9 cents per share on revenue of $1.18 billion. However, the company’s adjusted real estate EBITDA of $329 million beat a StreetAccount forecast of $319 million.
International Business Machines — IBM beat quarterly results and revenue forecasts, but stock fell more than 2%. Management said it expects constant currency revenue for 2023 to be consistent with the mid-digit model. IBM also said it would cut nearly 4,000 jobs, or about 1.5% of its workforce.
CSX — CSX reported earnings and revenue figures that just beat analysts’ expectations, but the stock fell 0.2%. The rail freight company earned 49 cents a share on revenue of $3.73 billion. Analysts polled by Refinitiv expected earnings of 46 cents per share on revenue of $3.72 billion.
