Stock Groups

Alphabet, PayPal, General Motors, AMD & more

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Google logo at entrance to Google Cloud Campus in Seattle.

Getty Images| SOPA Images | LightRocket | Getty Images

You can see the top companies in Wednesday’s midday trades.

Alphabet – Shares of Alphabet popped 8.6% after the Google parent posted blowout quarterly resultsAnd announced as 20-for-1 stock split. Alphabet beat analysts estimates in every major metric except YouTube advertising revenue. The company posted a profit margin of $30.69 per Share for the fourth quarter compared to the $27.34 consensus estimate by Refinitiv.

PayPal – PayPal plunged 25.9% after issuing disappointing guidance for the current quarter — which it blamed on inflation — and missing bottom-line forecasts by a penny per share. The payments giant also pointed to challenges with the transition of former owner eBay to its own payments platform.

General Motors – GM shares fell 2.6% after a mixed quarterly report. Refinitiv’s consensus estimate was 16 cents lower than the automaker’s adjusted quarterly earnings. However, GM revenue was below Wall Street’s expectations.

Advanced Micro Devices – AMD shares added 5.9% after the chipmaker beat earnings expectations. Refinitiv’s consensus estimate of 16 cents was exceeded by the company’s adjusted quarterly profit, which came in at 92 cents per shared. AMD predicts higher-than-expected revenue for the full year, due to continued demand for data center chips.

Capri Holdings Shares of the company behind Michael Kors and other luxury brands jumped 6.1% after a stronger-than-expected earnings report. Capri’s adjusted earnings for the past quarter were $2.22 each, which beat the consensus Refinitiv estimate of $1.69 per shares. Capri also increased its profit projections due to strong demand for handbags.

Boston Scientific – Shares of the medical device manufacturer ticked 4.2% lower after reporting a disappointing outlook. Boston Scientific reported quarterly earnings at 45 cents per share. This is 1 cent more than expected. Refinitiv estimates that revenue was $1 billion less than the actual company.

Match Group – Match Group shares rose 5.1% even after the Tinder-parent company issued a weaker-than-expected full-year revenue forecast, as it projects pandemic will continue to hinder dating activity.

Under Armour – Shares of the apparel company rose 2.9% after Morgan Stanley upgraded the stock to overweight. According to the investment company, Under Armour was a good buy after January’s weak start. The firm also stated that Under Armour should have a better supply chain management system than its competitors.

— CNBC’s Yun Li, Maggie Fitzgerald, Jesse Pound and Tanaya Macheel contributed reporting.

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