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This is the closing bell on this stock movers report the company's making moves at the close of US trading with Carol Masser, Tim Stenebeck, Romain Bostick, and Scarlet Food.
The S and P five hundred guys, most names, no surprise lower in today's session after we've seen the major indices under pressure three hundred and two to the downside, Katie one hundred and ninety nine gaining ground to unchanged.
Well, let's take a.
Look at the sectors how they performed today. You did have four sectors managed to finish in the green, seven in the red. You can see that the tech sector was down, and that's certainly taking a bite out of things. But in terms of what did do well, energy outperforming up one point three percent as a sector, consumer staples, healthcare, real estate also managing to finish in the green. But it's going to be hard to actually see the benchmark go green when you have tech weigh on things like that.
Yeah, right, big pressure, lots of pressure. Having said that, Intuitive Surgical definitely an outperformer, guys, top in the S and P and Nasdaq. The Robotic Surgery company you know them. While finishing the day just shy of a fourteen percent gain, the company did boost its worldwide da Vinci procedure growth forecast for the year.
So I use one of those ones.
I know.
We're still cool.
I mean I didn't personally use it, but it's used on me.
Yeah, and I guess it went well.
It did.
I'm still here.
We're so happy.
You know, the dot banks, the thank you doctor Tuari.
It was great.
If you're watching the doctors wear goggles to use these. I was actually having a conversation with a surgeon last night who uses this machine, and he made the point that it actually hasn't changed much since he began using it over the last ten years. It's remained relatively consistent with what it can do and sort of yes, it's gotten smaller a little bit, but it hasn't actually changed that much.
Sounds like a great dinner.
Yeah we had burgers.
Ok, well, I'm going to say, great, gayner, can you.
Go to dinner with me? You talk about stocks that are moving, that's what happens.
Cool, all right, our performance, but still the stock only up about not even quite one percent for a year to date.
Here was you said burgers. Did you mean like a veggie burger?
We did chicken. We just go there of course, Oh my.
God, it always comes back to food when it's always always hey Hilton. I just want to mention Hilton Worldwide up about three point two percent, also a top gainer, I think earlier in the session in the S and P the company boost it's annually adjusted even a forecast and the low end of its net unit growth outlook for the year. So some optimism there. And I was
going to say beyond me, but don't judge me. It was up one hundred and twelve percent earlier in the session, guys, but actually finishing to day down nine to the percent.
But it's hard.
Wait, Whire, that was the range today?
Yes, it was down twenty seven percent and it's lost today.
So talk about that was like the widest I was taken of the widest range we've seen on that stock at least since twenty twenty two, and on a percentage basis, I mean what we've seen this week basically the widest sense it's been a public company.
But it's still up right, Like let me, oh no, it's down, it's down percent for the year. I was going there, all right.
It's meaning yeah to talk about some non meme stocks. Let's talk about Netflix down ten percent today, biggest decline going back to April of twenty twenty two. This after we learned about a tax dispute with Brazil cutting into third quarter earnings and hey.
I'll go to revee here. Tesla Earning's crossing the wire right now. Let's get right to it here. My apologies. Tim adjusted EPs in the most recent quarter for Tesla coming in at fifty cents a share. The street on average was looking for fifty four cents. Revenue did come in above estimates, though, at twenty eight point one billion, so a beat on the revenue side, a slight miss on the EPs side. For cash flow well above what the street was looking for three point nine to nine
billion dollars in free cash flow. Now the estimate based on Bloomberg reporting is one point twenty five, so that's almost four times what the street was expecting. We'll have to dive a little bit deeper into that gross margin. A slight beat at eighteen percent here, and operating income coming in relatively in line with estimates one point six to two Street was looking for one point sixty five.
Yea, and you can see that the stock is kind of deciding what to do with this information. As you mentioned, of course, a big miss when it comes to adjusted EPs, but that free cash flow certainly is an eye popping figure here when you take a look at it, being forty six percent higher year over year and more than double the estimates. Shares down just a little bit after hours.
The volatility on this stock has been pretty incredible as well, up one hundred percent since April's lows, but still only about eight percent higher for the year.
Yeah, we're worth repeating that third quarter of free cash flow number three point nine to nine billion, massively exceeding estimates of one point twenty five billion, third quarter adjusted earnings per share of fifty cents the estimate was fifty four cents. Third quarter operating income one point six two billion dollars estimates for one point six five billion dollars. Shares those still moving lower in the after hours, down about one and a half percent.
Yeah, I mean, let's remind everybody, I mean, this stock has been on quite a tear. We've seen a bounce back off of its lows, and so some concerns when it comes to the valuations that we've seen compared with some of the other mag seven. I mean, this is a company remain with a forward pe of almost two hundred and fifty one, so you know, investors want to see some outperformance or get an idea of revenue growth going forward.
Yeah, they talk. I'm just going through the investor statement here, and they talk a lot, not so much about the vehicles, but the idea of new products and looking to launch new products. Of course, they do flag some of the updates to the Model three and the Model Why, but of course a lot of talk about their other businesses, of course in the hardware business, in the energy storage business, and of course when it comes to robotics and automation.
And we are going to continue to keep an eye on Test. Let me just quickly break in and talk about LAMB Research. These results coming out adjusted EPs for the first quarter actually beating estimates here, adjusted EPs coming in at a dollar and twenty six cents. The estimate had been for a dollar and twenty two cents, so a beat there on adjusted EPs. Also beating on revenue as well, coming in in the first quarter five point three two billion dollars. The estimate had been for five
point two three billion dollars. You can see shares up about one person in the after hours.
We'll get back to Tesla in just a moment. Meantime, Las Vegas sans out with numbers. We're seeing the stock higher four point seven percent in the after hours. Third Quarter adjusted EPs came in above estimates at seventy eight cents, third quarter net revenue coming in above estimates at three point three three billion dollars. Once again, shares in the after hours hired by about four point seven percent.
All right, let's go back to Tesla, folks, because we continue to monitor this one and it's been bouncing around here. Just a little bit lower down about six tens of a percent here in the after market. We're looking at Tesla posting third quarter profit that fell short of Wall Street expectations despite record ev sales, assign of the pressure automakers are facing from shifting federal policies and rising costs.
Just eddorings were fifty cents per share in the period, The company said Alice had expected fifty four cents on average, and estimates compiled by US Revenue was twenty eight point one billion. But again, the stock i agree that investors are trying to figure out this one ro made.
Trying to figure it out, and I think it gets at this idea of a company at an inflection point when we talk about the ev side of the business. Of course, the loss of that US tax credit a big issue here, not only for Tesla but for its peers as well. They mentioned that in the shareholder letter, particularly when it comes to lower regulatory credit revenue and lower hurt their overall revenue but also impacted the bottom
line with regards to profitability. They also mention a few one time costs there as well that also did weigh on profitability too. So this is a company that, of course, looking backwards, you can see a lot of the issues that they're having to grapple with. But the big question, particularly when we get to that conference call in less than an hour's time, is what is the future? Is going to be a discussion about new vehicles or is this going to be more discussion about autonomy and robotics.
Well, they're going to try to make it about AI, autonomy and robotics. I'm looking at the twenty nine page Q three quarterly update. The third paragraph in talks about how every Tesla vehicle delivered today is designed for autonomy. Every Tesla energy storage product is capable of being enhanced
and optimized our Virtual power Planner Auto Bidter functionality. We continue to deliver a fleet of products that brings AI into the real world as we pursue a future of sustainable abundances outlined in our master plan.
All right, IBM, crossing the Bloomberg terminal. Here's the red sticky though number that jumps out. Third quarter revenue folks slight beat sixteen point thirty three billion versus an estimate of sixteen point one billion. Software so key third quarter software revenue of seven point twenty one billion. That is smack in line with what the street was expecting. Also, some of the outlook sees fiscal year free cash flow fourteen billion dollars had seen above thirteen point five billion.
The estimate on the street is thirteen point forty eight billion. Consulting revenue also important, third quarter consulting revenue five point thirty two billion, and that two KTI is coming better than expected. A quick check on the stock in the aftermarket, and I'm pulling it up at my Bloomberg and it is down three and a half percent.
Katie interesting. I mean this was another name though where expectations were high, and you can see year to date through the close up thirty three percent on IBM shares. So this goes back to what we were talking about. Beat rates are high. We're getting positive results here, but the reaction to some of these earnings reports certainly has been in the opposite.
Direction, and we should put out the CEO of IBM was at the White House yesterday talking about investing in the United States, so we'll continue to monitor that.
This stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.