Ford, eBay, Tesla, Merck, more
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Ford Motor Co. CEO Jim Farley arrives at the Rouge Complex, Dearborn, Michigan on September 17, 2020, to address a press conference.
Rebecca Cook | Reuters
These are the headline-grabbing companies in midday trading.
Ford Motor — Shares of the automaker soared more than 9% after a stellar earnings report. Ford Motor, which reported earnings Wednesday, nearly doubled Wall Street’s earnings expectations and slightly beat revenue projections for the third quarter. For the second year in a row, Ford Motor raised its annual guidance.
eBay — The e-commerce company’s stock fell roughly 6.3% after a weak fourth-quarter revenue guidance. Refinitiv says that eBay exceeded revenue estimates and beat earnings expectations.
Tesla — Shares of Tesla continued climbing as Piper Sandler hiked its price targetStock of the electric vehicle reached an all-time high on Street. Stock traded at 3.2%. Piper Sandler increased its share price outlook to $1,300, from $1,200. This translates into a 25% upside potential from Wednesday’s close.
Apple Amazon — Big Tech names Apple and Amazon traded higher ahead of their quarterly earnings reports after the bell Thursday. Apple gained 2.3% while Amazon rose by 2.1%
Caterpillar — Shares of Caterpillar rose 3.3% after it reported a third-quarter beat on bottom-line estimates despite a slight revenue miss. Earnings of the heavy equipment producer were $2.66 per share. This beat analysts’ expectations of $2.20.
Merck — The drug maker jumped more tahn 5% after reporting its quarterly earnings. Merck earned $1.75 per Share, surpassing estimates by 20 Cents. The increase in sales from vaccines and other cancer treatments boosted revenue estimates.
Anheuser-Busch — Shares of the beer brewer soared 8.5% after a surprise increase in third-quarter profit. It also increased its year-end earnings outlook.
Northrop GrummanRefinitiv reports that shares of defense contractor fell over 6% following the announcement that the third-quarter revenue for the company was $8.72 Billion, less than the anticipated $8.95 Billion. Year-over-year, sales declined in both its defense and aeronautics segments. Northrop exceeded expectations in earnings per share.
Twilio — Shares of Twilio sunk more than 15% despite better-than-expected quarterly earnings resultsThis is. According to Refinitiv, Twilio made 1 cent per share. This is more than the expected 15 cent share loss. The revenue also exceeded estimates. Twilio, however, predicted a greater-than-expected fourth-quarter loss. George Hu, COO of the company, also announced his resignation.
Teradyne — Teradyne’s stock surged 11% after a better-than-expected earnings report. On revenue of $950.5million, the equipment manufacturer reported an adjusted profit margin of $1.59 per share. StreetAccount polled analysts and predicted earnings of $1.43 per Share on revenues of $932.9 Million. UBS and Cowen upgraded Teradyne following the earnings reports.
Tempur Sealy — The mattress company’s shares fell 3.7% despite reporting strong quarterly results. Tempur Sealy reported earnings of 88c per share in the third quarter. This beat estimates by three cents. Additionally, it reported strong growth in sales to international markets and an increase in revenue.
Teladoc Health — Shares of telehealth company popped more than 8% in midday trading after reporting a smaller-than-expected earnings loss for the third quarter. Teladoc reported a 53-cent loss per share while analysts had expected 65 cents. Refinitiv reports. This company generated $522 million of revenue which was higher than the $517 million estimate.
ServiceNow — Shares of the software company rose 3.6% in midday trading after beating on the top and bottom lines of its quarterly results. ServiceNow earned $1.55 for revenue of $1.51billion. Wall Street had expected earnings at $1.38 per share based on $1.48 trillion in revenue, according to Refinitiv.
American Express — Shares of American Express dipped more than 2% after the company announcedNew fully digital business checking and debit account.
— CNBC’s Tanaya Macheel, Maggie Fitzgerald, Yun Li and Jesse Pound contributed reporting
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