Stocks making the biggest moves midday: Meta, Apple, Intel, Amazon, Clorox and more
Check out the companies making headlines in midday trading. Meta Platforms — The Facebook and Instagram parent soared 20.3% after reporting a threefold rise in fourth-quarter profit and declaring its first dividend, to be paid in late March. Revenue jumped 25% from a year earlier, the fastest rate of growth for any period since mid-2021. Apple — The iPhone maker’s shares inched down 0.5% after Apple provided financial guidance for the current quarter that hinted at weak iPhone sales. The company reported $2.18 in earnings per share in its fiscal first quarter ending in December, above the $2.10 expected by analysts according to LSEG, formerly known as Refinitiv, despite a sales decline in China. Amazon — Shares of the dominant e-commerce platform jumped more than 7% on the back of an earnings and revenue beat in the fourth quarter. Amazon posted $1 in earnings per share on $169.96 billion in revenue, according to LSEG. Analysts had forecast 80 cents in earnings per share on $166.21 billion in revenue. Skechers — The stock slumped 10.3% one day after the sneaker maker posted mixed fourth-quarter results and issued light guidance for the full year. Skechers forecast 2024 revenue in a range between $8.6 billion and $8.8 billion and earnings of $3.65 to $3.85 per share. Analysts polled by LSEG had estimated $8.9 billion in revenue and earnings of $4.18 per share this year. Bristol Myers Squibb — The pharmaceutical stock added 0.1% after fourth-quarter earnings and revenue at the maker of the Opdivo anti-cancer treatment beat analysts’ estimates. Adjusted earnings per share came in at $1.70, topping the $1.53 expected from analysts polled by LSEG. Revenue reached $11.48 billion, versus the consensus estimate of $11.19 billion. Deckers Outdoor — Shares of the maker of the Ugg and Teva footwear brands surged 14.1% after the company’s fiscal third-quarter results exceeded Wall Street estimates, and it announced a new CEO. In response, several Wall Street analysts raised their price targets on the stock. Deckers’ earnings per share came in at $15.11, beating analysts’ estimates by $3.63, according to LSEG, while revenue for the quarter totaled $1.56 billion versus estimates of $1.45 billion. Cigna — The health services company saw its shares rise more than 5% after reporting stronger-than-expected financial results for the fourth quarter and giving upbeat revenue guidance for the year. Cigna posted earnings of $6.79 per share on revenue of $51.15 billion, beating estimates of $6.54 per share on revenue of $48.91 billion, according to FactSet. Full-year revenue guidance was $235 billion compared to estimates of $228.65 billion. Mattel — Shares of the Barbie toymaker added 4.1% on news that activist investor Barington Capital has built an undisclosed stake in Mattel and is urging the sale of its American Girl and Fisher-Price units. Clorox — The bleach manufacturer jumped 5.6% Friday, one day after surpassing Wall Street expectations for its fiscal second quarter. Clorox earned $2.16 per share, excluding items, on $1.99 billion in revenue. Analysts polled by LSEG had expected $1.10 per share on $1.80 billion in revenue. Chevron — Shares jumped nearly 3% after the nation’s second-largest oil company raised its dividend by 8%. Chevron posted mixed fourth-quarter results, with adjusted earnings per share of $3.45 topping the $3.21 expected by analysts polled by LSEG. ExxonMobil , the largest oil company in the U.S., rose 1% after its fourth-quarter earnings per share topped analysts’ estimates. Revenue at both companies trailed Wall Street estimates. Intel — The chipmaker fell 1.7% after The Wall Street Journal reported that Intel is delaying construction of its $20 billion chip factory in Ohio due to market challenges. Microchip Technology — The semiconductor stock slid more than 1% after the company issued a weak outlook for its fiscal fourth quarter ending March 31. The company also posted revenue in line with analysts’ expectations. — CNBC’s Alex Harring, Yun Li, Tanaya Macheel, Michelle Fox and Tanaya Macheel contributed reporting. This post has been syndicated from a third-party source. View the original article here.
