9 months ago
64 Signage extracurricular Intel office successful Santa Clara, California, Jan. 30, 2023.
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Check retired the companies making headlines successful midday trading.
Intel — The spot banal jumped much than 6% aft the institution posted better-than-expected second-quarter net results. The latest 4th marked a instrumentality to profitability aft 2 consecutive losing periods. Intel's forecast for the 3rd 4th besides came successful supra expert expectations.
Roku – Shares popped much than 25% aft the institution reported a smaller-than-expected nonaccomplishment for the caller quarter. The streaming banal posted a nonaccomplishment of 76 cents a share, up of the $1.26-loss per stock expected by analysts, according to Refinitiv. Revenues came successful astatine $847 cardinal versus the estimated $775 million.
New York Community Bancorp – The determination slope banal added 4.8% aft JPMorgan upgraded shares to overweight from neutral, calling it a "massive marketplace stock taker" successful the adjacent and mean term.
Biogen — The biotech institution roseate astir 1% aft the institution said it's acquiring Reata Pharmaceuticals for $172.50 per share, successful a currency deal valued astatine astir $7.3 billion. Shares of Reata popped much than 50% pursuing the news.
Procter & Gamble — The user giant's banal climbed astir 5%, boosting the blue-chip Dow Jones Industrial Average. The rally came aft the institution reported quarterly earnings and gross that bushed analysts' expectations. P&G did merchandise a gloomy outlook for its fiscal 2024 income that fell abbreviated of Wall Street's estimates, however.
Exxon Mobil — The lipid elephantine saw its shares dip 1.6% aft the institution posted mixed second-quarter results. The institution reported net of $1.94 a share, excluding items, little than the $2.01 estimation by analysts, per Refinitiv. Revenues came successful astatine $82.91 billion, supra the expected $80.19 billion.
Enphase Energy – The star banal dropped astir 10% to deed a 52-week debased aft the institution posted a gross miss. Enphase said its second-quarter gross reached $711 million, falling abbreviated of expert estimates of $722 million, according to Refinitiv. Deutsche Bank, Wells Fargo and Roth MKM downgraded the banal pursuing the disappointing report.
Boston Beer — The intoxicant beverage institution saw its shares soar much than 18% pursuing a stronger-than-expected quarterly report. Boston Beer posted net of $4.72 per share, good supra an estimation of $3.38 per stock from FactSet. Its gross besides came successful supra expectations.
Sweetgreen – Shares of the crockery concatenation slid 10% aft the company posted anemic sales that missed Wall Street expectations successful the 2nd 4th and a nonaccomplishment of nett nonaccomplishment of $27.3 million, oregon 24 cents per share. Sweetgreen besides reported narrowing losses and raised its forecast for restaurant-level margins. It's aiming to crook a nett for the archetypal clip by 2024.
Ford Motors – The automaker saw shares autumn much than 3% aft it said adoption of electrical vehicles is going much dilatory than expected and that it expects to suffer $4.5 billion on the EV concern this year, widening losses from astir $3 cardinal a twelvemonth earlier. Otherwise, Ford posted beardown quarterly net that bushed Wall Street expectations and raised its full-year guidance.
T. Rowe Price – Shares of the plus manager jumped much than 10% aft T. Rowe Price reported stronger-than-expected net for the 2nd quarter. The institution earned an adjusted $2.20 per stock connected $1.61 cardinal of revenue. Analysts surveyed by Refinitiv were expecting $1.73 per stock connected $1.6 cardinal of revenue. CEO Rob Sharps said successful a property merchandise that T. Rowe Price has "identified important outgo savings" that volition dilatory disbursal maturation going forward.
– CNBC's Jesse Pound, Tanaya Macheel and Samantha Subin contributed reporting.
