Business

Moderna, Robinhood, Boeing and others

The Moderna sign is visible outside their headquarters in Cambridge, Massachusetts on March 11, 2021.

Boston Globe | Getty Images

Pay attention to the companies that hit the headlines at noon.

United Airlines, Boeing – Shares in travel-related companies fell after Austria announced earlier in the day that it would reintroduce full national isolation due to a spike in Covid cases. United Airlines fell 2.8% and American shares fell 0.6%. Boeing fell 5.8%.

Devon Energy, Hess Corporation – E&P companies fell more than 5%, causing the energy sector as a whole to plunge amid falling oil prices. All components of the S&P 500 energy sector were trading in the red on Friday, with oil falling for the fourth straight week.

Robinhood – Shares in the brokerage fell 5% after Deutsche Bank said it expects Robinhood’s client accounts and assets to fall again in the fourth quarter, with growth continuing to slow in 2022. For this reason, Robinhood is Deutsche Bank’s new “Selling Idea”.

Moderna – Moderna shares jumped 4.9% after the FDA authorized the Moderna and Pfizer Covid booster vaccines for all U.S. adults. Pfizer shares were higher early in the session but closed 1.2% lower.

Foot Locker – Shares in the athletic footwear and apparel retailer fell about 12% after the company said it expects global supply chain constraints to continue this quarter. The sell-off came despite lower profit and loss for the last quarter of Foot Locker and higher-than-expected LFL sales.

Applied Materials – Applied Materials fell 5.5% after the semiconductor equipment maker did not approve its quarterly earnings estimate. The company posted adjusted quarterly earnings of $ 1.94 per share, one cent less than expected, and reported revenue below Wall Street’s forecasts. Applied Materials also gave a weaker-than-expected forecast for the current quarter, citing a supply shortage.

Ross Stores – Ross Stores fell 5.6% despite declining earnings. The cut-price retailer posted quarterly earnings of $ 1.09 a share, beating the Refinitiv consensus of 78 cents. However, the discount retailer said it sees major supply chain problems and uncertainty ahead of the holiday shopping season.

Workday – Workday fell 4.2% despite better-than-expected earnings from the software company. The company posted earnings of $ 1.10 a share, up 24 cents from the Refinitiv consensus. Workday said the fallout from the Covid-19 pandemic will impact growth in the coming year.

Buckle – Buckle’s shares fell 6.5% despite beating Wall Street’s estimates in its quarterly income statement. The fashion retailer earned $ 1.26 a share for the quarter, beating the Refinitiv consensus of 92 cents.

Intuit – Shares in business software jumped 10.1% after strong growth in online accounting revenue led to a decline in profit and loss in the first quarter of Intuit’s fiscal year. The company reported adjusted earnings of $ 1.53 per share on revenues of $ 2.01 billion. Analysts polled by Refinitiv estimated earnings per share at 97 cents and revenues at $ 1.81 billion.

– CNBC’s Yoon Lee, Jesse Pound, Maggie Fitzgerald, and Tanaya Mashil provided reporting.


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