Business

Amazon, Snap, Ford, Clorox and more

The Amazon logo can be seen at the company’s logistics center in Lovin Planck in northern France.

Pascal Rossignol | Reuters

Check out the companies that make headlines in the afternoon trade.

Amazon. Amazon shares are up more than 14% after a great quarterly report. The company said its investment in electric vehicle company Rivian brought in nearly $12 billion in the fourth quarter. Amazon Web Services posted nearly 40% year-over-year growth in the fourth quarter, beating Wall Street estimates. Amazon also announced that it will be raising the price of Prime to $139 from $119 for an annual membership. The cost of a monthly Prime membership will also rise to $14.99 from $12.99.

Ford Motor – Ford shares fell more than 10% after a weaker-than-expected quarterly report. The automaker reported earnings of 26 cents per share on revenue of $35.3 billion. Analysts polled by Refinitiv had expected earnings of 45 cents per share on revenue of $35.52 billion.

Snap – The social media platform’s shares are up a whopping 52% after the company reported its first quarterly net income. Snap’s quarterly results also showed faster-than-expected progress on the move from advertisers to Apple’s iOS privacy changes. Its shares just lost 23.6% on Thursday ahead of the earnings report.

Clorox – Shares of cleaning products fell more than 14% after Clorox’s second-quarter earnings of 66 cents a share, 18 cents below expectations, according to Refinitiv data. Clorox also released a full-year earnings guidance that is not in line with estimates. Atlantic Equities has downgraded the stock rating to negative.

Pinterest – Pinterest is up more than 6% after a better-than-expected quarterly report. The social media platform reported earnings of 49 cents per share, 4 cents higher than Refinitv’s consensus estimate. Revenue also exceeded Wall Street’s expectations.

Unity Software – Shares of the video game platform rose more than 16% after the company reported better-than-expected quarterly results and issued an upbeat outlook for the current quarter. Unity also stated that it has great room for growth in the coming decades with real-time, interactive 3D gaming.

Skechers – Shares of Skechers added 6.4% after the shoe retailer beat Wall Street expectations on its highs and lows. Skechers reported record sales in 2021 amid strong demand for casual and comfortable footwear.

Meta Platforms – Shares in Facebook’s parent company fell another day after the tech giant’s disappointing quarterly report on Wednesday, down about 1.2%. Friday’s decline came after other social networks like Snap showed more-than-expected progress in adapting their digital ads to Apple’s iOS privacy changes.

Penn National Gaming – Shares of Penn National Gaming fell almost 3% after the company’s earnings report on Thursday. Penn was also downgraded from Mouth to Neutral from Buy. “While we remain optimistic about PENN’s digital capabilities long-term, we see several negative catalysts in 2022 that could undermine confidence in its market share trajectory,” the company said.

– CNBC’s Yoon Lee, Jesse Pound and Tana Machil provided reporting.


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