Amazon, Snap, Ford, Clorox and more
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At the Lauwin-Planque logistics centre in northern France, you can see the Amazon logo.
Pascal Rossignol – Reuters| Reuters
Take a look at the top midday traders.
Amazon — Shares of Amazon popped more than 14% following a stellar quarterly report. According to the company, its investments in Rivian electric vehicle company gained nearly $12 billion during the fourth quarter. Amazon Web Services delivered almost 40% year-over-year growth in the fourth quarter, beating Wall Street estimates. Amazon had also stated that they would increase the price of Prime to $139 from $119 for annual memberships. Monthly Prime Memberships will cost $14.99 instead of $12.99.
Ford Motor — Ford fell more than 10% after a weaker-than-expected quarterly report. For revenue of $35.3 billion, Refinitiv reported earnings of 26c per share. Refinitiv surveyed analysts and forecasted a profit at 45 cents per share for revenue of $35.52 trillion.
Snap — Shares of the social media platform soared a whopping 52% after the company reported its first-ever quarterly net profit. Snap’s quarterly results also showed it’s seeing quicker-than-expected progress on its transition with advertisers around Apple’s privacy changes on iOS. The shares of the company had suffered a sell-off of 23.6% on Thursday just before the release.
Clorox — The cleaning products stock tumbled more than 14% after Clorox’s second-quarter earningsRefinitiv reported that the shares were 66 cents each, an 18-cent drop from expectations. Clorox provided full-year earnings guidance which was below expectations. Atlantic Equities downgraded it to underweight.
Pinterest — Pinterest popped more than 6% following a better-than-expected quarterly report. Earnings for the social media platform were 49 cents per share. This is 4 cents more than what Refinitv had predicted. Wall Street also saw revenue surpass expectations
Unity Software – Shares of the video game platform surged more than 16% after the company reported better-than-expected quarterly results and issued upbeat current-quarter guidance. Unity said that it sees strong opportunities for growth over the next decades based on 3D interactive gaming.
Skechers — Shares of Skechers added 6.4% after the footwear retailer beat Wall Street expectations on its top and bottom lines. Skechers saw record sales in 2021, thanks to strong demand for comfortable and casual shoes.
Meta Platforms — Shares of Facebook’s parent company fell for another day after the tech giant’s disappointing quarterly report WednesdayThis is down by about 1.2%. Snap and other social media platforms like Snap have made better than expected efforts to adapt their digital advertising strategies to Apple’s privacy policies.
Penn National Gaming — Shares of Penn National Gaming dropped nearly 3% following the company’s earnings report Thursday. Penn’s stock was downgraded by Roth from Neutral to Buy. The firm stated that while we are bullish for PENN’s digital potential longer-term, we see many negative catalysts 2022 which could erode our confidence in its market share trajectory.”
— CNBC’s Yun Li, Jesse Pound and Tanaya Macheel contributed reporting
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