After-Hours Stock Movers:
Facebook parent Meta Platforms (NASDAQ:) declined 12% it published revenue guidance for the second quarter of 2024 that disappointed investors, along with plans for higher than expected capital expenditures.
Snap (SNAP) declined 5% and Pinterest (NYSE:) declined 6% in sympathy with Meta. Alphabet (NASDAQ:) shares were also lower.
Ford Motor (NYSE:) climbed 2% after the automaker reported solid first quarter results and issued better than expected guidance for the year.
IBM (NYSE:) declined 6% after it published lackluster first quarter results and announced a deal to buy HashiCorp, Inc (NASDAQ:) for $6.4 billion.
ServiceNow (NYSE:) slumped 5% after it issued second quarter guidance for subscription revenue that missed estimates.
Chipotle Mexican Grill (NYSE:) rose 3.5% after it reported first quarter results that easily beat consensus figures, with comps outpacing estimates.
