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