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After-hours buzz: IBM, LRCX, RARE & more

Rachel Cao
Lucas Jackson | Reuters. U.S. stock futures were hovering near breakeven this morning as investors wait for further word on the fate of tax reform.

Check out which companies are making headlines after the bell on Tuesday:

Shares of IBM (NYSE: IBM) dipped more than four percent after hours following mixed first-quarter results. The enterprise tech company reported first quarter earnings of $2.38 a share on revenue of $18.16 billion while the Street expected per-share earnings of $2.35 on revenue of $18.39 billion, according to Thomson Reuters consensus estimates. This is the fifth straight year of declining year-over-year quarterly revenues for the company.

Intuitive Surgical (NASDAQ: ISRG) shares ticked up more than 3 percent during extended trading after reporting an earnings and revenue beat for its first quarter. The surgical instruments company reported first quarter earnings of $5.09 revenue of $674 million while Wall Street projected earnings of $4.97 on revenue of $667 million, according to Thomson Reuters consensus estimates.

Lam Research (NASDAQ: LRCX) shares rose more than 4 percent during after-hours following its third quarter earnings report that beat analyst's expectations for earnings and revenue. The semiconductor manufacturer reported third quarter earnings of $2.80 on revenue of $2.15 billion, while the Street expected earnings of $2.55 on revenue of $2.13 billion, according to Thomson Reuters consensus estimates.

Shares of Ultragenyx Pharmaceutical (NASDAQ: RARE) surged nearly 20 percent during extended-trading following positive Phase 3 results for its drug, burosumab, to treat X-linked hypophosphatemia, a disease that can cause bone deformity like short stature and bow-leggedness due to inadequate levels of available phosphate, calcium, and vitamin D. Ninety-four percent of patients treated with burosumab demonstrated significant improvement in serum phosphorus levels, compared to just eight percent on placebo. Patients reported significant improvement in stiffness, physical function and pain.



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