Stocks making the biggest moves after the bell: Tesla, Netflix, LendingClub and more

Market Insider

The Tesla dealership in Eatonville, Florida is seen on March 1, 2019, the day after Tesla announced that it was closing its retail stores as a cost-cutting measure, in a shift to on-line only sales.
Paul Hennessy | NurPhoto | Getty Images

Check out the companies making headlines after the bell Wednesday:

Netflix — Shares of Netflix jumped more than 5% after hours after Pershing Square’s Bill Ackman said his firm “recently” purchased more than 3.1 million Netflix shares, making it a top-20 holder of the stock.

LendingClub — Shares of LendingClub slid 14.7% despite reporting strong earnings and revenue for the most recent quarter. The fintech company’s first-quarter income and revenue guidance were both lower than analysts had expected, according to Refinitiv.

Intel — The tech company saw its shares fall 2% after hours despite reporting better-than-expected results and delivering upbeat guidance. The company’s gross margin forecast or 52% in the first quarter missed estimates of almost 53%.

Tesla — Shares of the electric vehicle maker fell 2.6% after the company said its supply chain issues could persist throughout 2022, in its quarterly earnings report. Tesla beat analysts’ expectations on both earnings and revenue for the most recent quarter.

Levi Strauss — The apparel retailer’s shares gained 2.6% after the company reported its quarterly results. It reported earnings of 41 cents per share, beating estimates by 1 cent. Revenue beat expectations as well.

ServiceNow — Cloud company ServiceNow jumped 8.5% after it named Chirantan “CJ” Desai, its chief product and engineering officer, its new chief operating officer. It also reported earnings excluding items that beat Wall Street forecasts.

Lam Research — The semiconductor company’s shares fell 4.9% after Lam reported a revenue miss in its most recent quarter’s results. It logged $4.23 billion in revenue for the quarter, compared to expectations of $4.42 billion, according to FactSet.

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