Jen Van Santvoord rides her Peloton exercise bike at her home in San Anselmo, California on April 7, 2020.
Ezra Shaw | Getty Images
Check out the companies that hit the headlines on Wednesday after hours.
Tesla – The electric car maker fell 3% after Tesla reported third-quarter earnings and sales that beat analysts' expectations at 76 cents per share, or $ 8.77 billion. The earnings results represent the fifth quarter in a row that Tesla has posted positive earnings. This is the result of 139,300 vehicles delivered in the three months ended September 30th.
Chipotle Mexican Grill – The burrito chain saw its after-hours inventory decrease by more than 5% after the company increased a shift in delivery orders and led to a decline in beverage sales in the third quarter. Chipotle beat earnings expectations with earnings per share of $ 3.76. However, net income fell to $ 80.2 million from $ 98.6 million in the year-ago period.
Las Vegas Sands – Las Vegas Sands stocks rose about 5% in after-hours trading after the casino operator posted a less-than-expected loss in the third quarter and earnings were above Wall Street's consensus estimate. On sales of $ 586 million, the company posted a loss of 67 cents per share in the third quarter. Analysts had expected a loss per share of 73 cents on sales of 579 million US dollars.
Align Technology – Shares in Align, the company that owns Invisalign tooth aligners, rose more than 20% after the bell as clear aligners shipped better than expected in the third quarter. Align reported earnings of $ 2.25 per share, far beating consensus estimates of less than $ 1.
Peloton – The exercise equipment manufacturer's shares fell 3% after Goldman Sachs downgraded the stock from buy to neutral. While Goldman analyst Heath Terry said he was still bullish on peloton over the longer term, he advised clients to stay away from the highly rated equity for the next few months, as investors are already increasing the price by more than 330% in 2020 to have.
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