Business

Roku, Amazon, First Solar, Intel, Apple, etc


People walk past a screen of video signs with the logo of Roku, a Fox-backed video streaming company that held its IPO at Nasdaq Marketsite in New York, September 28, 2017.

Brendan McDermid | Reuters

Check out the companies that hit the headlines in Friday midday trading.

Amazon – The e-commerce giant’s shares rose more than 11%, giving impetus to the broader market, after the company second quarter earnings report better than expected and offer an optimistic outlook. Revenue growth of 7% in the second quarter topped estimates, going against the trend of big Tech peers.

Roku – Roku Stocks fell sharply 25% after the company streaming Disappointing result report in the second quarter, as it faces a slowdown in advertising. The company shared disappointing guidance for the current quarter, noting that falling ad spend and recession fears could continue to affect the company’s business going forward.

Apple Apple shares jumped 3% after the company beat Wall Street profit and revenue forecasts, and CEO Tim Cook said he expects growth to accelerate. although “pocket of soft.” Its iPhone sales saw double-digit growth in new customers.

The first solar energy – Shares of First Solar rose more than 10% after the company reported better-than-expected earnings for the second quarter. Oppenheimer also Upgrade stock to better from neutral on Friday citing an agreement reached between Senator Joe Manchin, DW.V. and Senate Majority Leader Chuck Schumer, DN.Y., on a bill that includes spending on climate.

Chevron, Exxon Mobil – Energy stocks rise thanks to record profits reported in their second quarter earnings, driven by higher oil and gas prices. Chevron was up 8.2% and Exxon Mobil was up 4.3%.

Bloomin’ Brands Stocks rose 2.6% after Bloomin’ Brands reported second-quarter earnings that beat analyst expectations. The restaurant company behind Outback Steakhouse and other brands earned 68 cents per share on revenue of $1.13 billion. Analysts expect a profit of 61 cents per share on revenue of $1.1 billion, according to Refinitiv.

Stanley Black & Decker – Shares of the tool maker fell 4% on Friday, building on Thursday’s 16% loss, following a disappointing quarterly report and guidance cuts. Wolfe Research downgraded the stock to peer-to-better performance, saying that “negative news is likely to prevail” through the end of the year.

Procter & Gamble – Posted by consumer goods company mixed second quarter results, send shares down 5%. Procter & Gamble also said it expected rising commodity costs to continue to be a challenge ahead.

Church & Dwight Shares fell 8.4% after the consumer goods company behind Arm & Hammer reported falling revenue in its most recent quarter, citing greater inflationary pressures.

Intel Chip maker shares drop 8.8% after second quarter report is released very low expectations. Intel reported 29 cents adjusted earnings per share on $15.32 billion in revenue. Analysts surveyed by Refinitiv recorded 70 cents of earnings per share on $17.92 billion in revenue. Third-quarter guidance was also below expectations. Susquehanna downgraded the stock to negative from neutral, warning that free cash flow could “decline significantly for at least the next few years.”

– CNBC’s Yun Li, Jesse Pound, Samantha Subin, Tanaya Macheel, and Carmen Reinicke contributed reporting



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