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Stocks making the biggest moves after hours: Facebook, Tesla, Ford, PayPal and more

Lisa Micheal 6 Jul 24
Employees have lunch at the canteen at Facebook's new headquarters, designed by Canadian-born American architect Frank Gehry, at Rathbone Place in central London on December 4, 2017.

Check out the companies making headlines after the bell:

Shares of Facebook jumped 3.5% in after-hours trading, before falling into the negative then ticking back up, following the release of its second-quarter earnings and announcement that the Federal Trade Commission has opened a new probe into the company. Facebook reported adjusted earnings per share of $1.99 on revenues of $16.89 billion, topping the earnings per share of $1.88 on revenues of $16.50 billion analysts polled by Refinitiv had been expecting. The company also reported 1.59 billion daily active users and 2.41 billion monthly active users, both in line with forecasts by FactSet.

Tesla fell 11% after reporting a loss that was wider than analysts expected in its second-quarter earnings. The electric vehicle company reported adjusted earnings per share of $1.12 on revenues of $6.35 billion. Analysts had expected a loss per share of 40 cents on revenues of $6.41 billion, according to Refinitiv. Tesla had braced investors for a second-quarter loss in its first quarter update.

Ford dropped more than 6% after the auto company released mixed second-quarter earnings. The company reported adjusted earnings per share of 28 cents on revenues of $35.76 billion, versus the earnings per share of 31 cents on revenues of $35.07 billion analysts surveyed by Refinitiv had been expecting. Shares of Ford were up more than 34% year-to-date through Wednesday but still down by about 2.6% over the past 12 months.

PayPal fell by as much as 6% after the payments company's second-quarter revenues missed estimates. The company reported revenues of $4.31 billion, below the $4.33 billion analysts expected, according to Refinitiv.

Shares of Spirit Airlines dropped 13% after the company released mixed second-quarter earnings. Spirit reported adjusted earnings per share of $1.69 on revenues of $1.01 billion. Analysts had expected earnings per share of $1.65 on revenues of $1.01 billion, according to Refinitiv. In a statement, the airline's CEO Ted Christie said the company "experienced numerous storm systems across our network which negatively impacted our operational reliability."

Las Vegas Sands ticked down 2.6% after the casino company's earnings for the second quarter missed Wall Street's estimates. The company reported adjusted earnings per share of 72 cents on revenues of $3.33 billion, falling below the earnings per share of 78 cents on revenues of $3.39 billion analysts polled by Refinitiv had expected.