Roku, DraftKings, Ford & more
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Take a look at the top midday traders.
Roku — Roku shares were down nearly 25%The company has reported its revenue for the quarter ended September 30, 2007. fell short of analysts’ forecasts. Roku issued a less optimistic outlook because of higher components prices and supply chain disruptions.
DraftKings — Sports betting company DraftKings saw shares tumble nearly 17% after it reported a narrower-than-expected quarterly loss and issued guidance projecting a wider-than-expected adjusted lossFor the entire year.
Bloomin’ Brands — Shares of the Outback Steakhouse parent jumped more than 7% after the company reported a quarterly earnings beat and a modest revenue beat. Bloomin’ announced that it would be reinstituting its quarterly dividend as well as a $125 million buyback program.
Virgin Galactic – Shares of Virgin Galactic fell more than 6% following the announcement that Chairman Chamath Palihapitiya will be stepping down from the board of directors, effective immediately. Virgin Galactic went public in 2019 thanks to his company for special purposes acquisitions. Palihapitiya stated that he is leaving to “focus on other current and future public board responsibilities.”
Dollar Tree — Shares of the discount retailer jumped more than 4% and was one of the top gainers in the S&P 500, after the company announcedBob Sasser, executive chairman will be retiring and given the title Chairman Emeritus.
Redfin — The real estate brokerage’s shares tumbled by 25% after RBC Capital Markets downgraded the stock to sector perform from outperform, calling the bull case for the stock “broken.” Redfin on Thursday reported a smaller-than-expected loss for the fourth quarter and beat on revenue. The gross margins and real estate services units missed the expectations.
Shake Shack — The restaurant chain’s shares fell 5% after the company issued quarterly revenue guidance below estimatesThe company closed its restaurants due to labor shortages caused by the omicron variety. Shake Shack estimates that it will generate $196 to $201.4 million revenue in the first quarter, as compared to $210.9 million.
Pilgrim’s Pride — Shares of the poultry producer sank more than 14% after the Brazilian meatpacker JBS withdrew from plans to buy the remaining 20% of the company it doesn’t already own, saying the two sides couldn’t agree on terms of a deal.
Intel — Shares of Intel were down about 5.8%, leading laggards on the Dow Jones Industrial Average. Bank of America reiterated an underperform ratingCheck out the stock.
Ford — The automaker’s shares rose more than 2% following a Bloomberg reportJim Farley, CEO, is exploring options to seperate the electric vehicle unit of the company from its legacy internal-combustion engine business. One possibility could be that Farley might even consider a spinoff.
General Electric — The electric company saw its shares slide almost 6% after it provided a profit outlook for 2022 saying supply chain challenges continue to pressure its health care, renewable energy and aviation businesses and could remain through the first half of 2022. In an 8-K filing, the company stated that supply chain headwinds could continue to partly mask the progress made across all of its businesses.
— CNBC’s Hannah Miao contributed reporting
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