Business

Twitter, Robinhood, GM, Microsoft and others

Jack Dorsey creator, Twitter co-founder and chairman, and Square co-founder and CEO speaks on stage at the Bitcoin 2021 Convention, a cryptocurrency conference held at the Mana Convention Center in Wynwood on June 4, 2021 in Miami. Florida.

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Pay attention to the companies making headlines at noon.

Coca-Cola – Coca-Cola rose 1.9% after the beverage giant surpassed both the top and bottom lines in quarterly results. Coca-Cola reported adjusted earnings of 65 cents per share, 7 cents above the Refinitiv consensus estimate. The company also raised its full-year forecast.

McDonald’s – McDonald’s rose 2.7% after the fast food chain beat profit forecasts. The company reported adjusted quarterly earnings of $ 2.76 per share, compared with an expected $ 2.46 per share. Higher prices and new menu items helped increase the company’s revenue.

Boeing – Boeing shares fell 1.5% after a stronger-than-expected quarterly loss. The aircraft maker reported an adjusted quarterly loss of 60 cents a share, compared with an expected 20 cents a share. Revenue also fell short of expectations.

General Motors – GM shares fell 5.4% despite declining profits. The automaker reported earnings of $ 1.52 a share on revenue of $ 26.78 billion, while Wall Street expected earnings of 96 cents a share on revenue of $ 26.51 billion.

Harley-Davidson – Shares in the motorcycle maker jumped 3.6% after publishing quarterly results. According to FactSet, the company’s adjusted diluted earnings were $ 1.18 per share, compared with an analyst estimate of 77 cents per share. Harley also beat earnings forecasts.

Spotify – Spotify rose 8.3% after the streaming audio service reported a bigger-than-expected quarterly loss, but revenue and user growth topped estimates. The company said its podcast segment has increased revenue.

Microsoft – Shares of the tech giant jumped 4.2% after a stronger-than-expected quarterly report. According to Refinitiv, Microsoft reported adjusted earnings of $ 2.27 per share for the first quarter of the fiscal year, higher than analysts’ estimates of $ 2.07 per share. The company’s total revenue grew nearly 22% year over year, the fastest growing since 2018.

Alphabet – Alphabet rallied 5% after Google’s parent company surpassed earnings. According to Refinitiv, Alphabet reported earnings of $ 27.99 a share, up from an expected $ 23.48. Management said Apple’s privacy features had only “minor impact” on YouTube’s revenues.

Twitter – Twitter shares fell 10.8% despite the fact that the company third quarter report, which met analysts’ expectations in terms of revenue and user growth. Twitter also reported that Apple’s privacy changes had less impact than expected. However, the company said that spending, such as investments in headcount growth, will decline in 2022.

Robinhood – Shares in the brokerage fell 10.4% after Robinhood reported low top and bottom line profits in the third quarter and released gloomy forecasts for the current quarter. Revenue was down on a slowdown in cryptocurrency trading, and Robinhood warned that trade disruptions would persist for the rest of the year. The stock is currently trading below the IPO price of $ 38 per share.

Visa – Shares of the payment giant fell 6.9% after it released a conservative earnings forecast as part of its quarterly income statement. Visa brought in $ 1.62 per share, beating expectations by 8 cents. It also exceeded revenue expectations thanks to increased online and travel expenses.

Enphase Energy – Shares in the solar company rose 24.7% after Enphase reported record third-quarter revenue. The microinverter maker reported sales of $ 351.5 million for the reporting period, up 11% from the previous quarter. Enphase also released an upbeat outlook for the current quarter.

Six Flags – Six Flags fell 8.4% after the company beat expectations in quarterly results. Six Flags reported earnings of $ 1.80 per share on revenue of $ 638 million, while analysts surveyed by Refinitiv expected earnings of $ 1.55 per share on revenue of $ 587 million.

F5 Networks – F5 Networks added 5.9% after a strong income statement. The company reported adjusted earnings of $ 3.01 per share on revenue of $ 682 million. Analysts polled by StreetAccount expected profit of $ 2.75 on revenue of $ 672 million.

Fiserv Shares – Fiserv shares fell 10% after the company beat earnings per share expectations by just 2 cents and came out as expected, according to StreetAccount.

– CNBC’s Tanaya Mashil, Yoon Lee, Maggie Fitzgerald, Pippa Stevens presented reports.


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