Welcome to Extreme Investor Network, where we provide you with exclusive insights and analysis on the latest news in the finance world. Today, we are diving into the companies that made headlines in extended trading and their third-quarter results.
Discover Financial started off with a 1% decrease in their shares, despite surpassing expectations with earnings of $3.69 per share on $4.45 billion of revenue. On the other hand, CSX, the rail transportation company, lost 4% after falling short of Wall Street’s forecasts with earnings of 46 cents per share on revenue of $3.62 billion.
Alcoa, the aluminum producer, saw a significant jump of nearly 9% after posting third-quarter adjusted earnings of 57 cents per share, exceeding analysts’ estimates. Lucid Group, the electric vehicle maker, faced a 10% drop in shares following a public offering of more than 262 million shares and an announcement of an investment from Ayar Third Investment Company.
Kinder Morgan, the energy infrastructure company, experienced a 2.7% decrease in shares due to disappointing third-quarter results, while PPG Industries, the paints manufacturer, slipped less than 1% after missing on both top and bottom lines. SL Green, the office building-focused company, tumbled around 3% after reporting a revenue miss in the third quarter.
Equifax, the consumer credit reporting company, dropped nearly 5% after issuing weak guidance for the fourth quarter. Meanwhile, Steel Dynamics, the steel producer, added 3% with third-quarter earnings beating analysts’ expectations.
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