Global Courant 2023-04-29 01:07:12
POLAND – 03/21/2023: In this photo illustration, a First Republic Bank logo is displayed on a smartphone with stock market rates in the background. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images)
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Check out the companies making headlines during midday trading.
First Republic — Shares of the regional bank fell 43.3% after sources told CNBC’s David Faber that the most likely outcome for First Republic is the Federal Deposit Insurance Corporate going into receivership. However, there is still hope that a bailout will be reached before the regulator intervenes, the sources said.
snap — Snapchat’s parent company fell about 17% after missing revenue expectations for the past quarter. Snap’s revenue was down 6% from a year ago.
Amazon — The company fell 4% as investors grapple with concerns about the future of Amazon’s cloud business. The company beat expectations on both adjusted earnings per share and revenue on Thursday.
Intel — Intel shares rose 4% even after the company posted its biggest quarterly loss ever and a 133% year-over-year decline. Still, Intel reported smaller-than-expected loss per share and better-than-expected earnings. Benchmark upgraded the chipmaker and said it is priced the worst in stocks.
pinterest — Shares of Pinterest plummeted 15.7% after sharing disappointing Q2 expectations. The move in stocks came despite the company’s beat for image sharing on the top and bottom lines.
Charter communication – Shares rose 7.6% after Charter Communications beat revenue expectations for the previous quarter, boosted by solid gains within the Internet segment.
First solar energy — Shares of the solar company plummeted 9.1% after first-quarter results fell short of expectations. First Solar posted earnings per share of 40 cents on revenue of $548 million. Analysts had estimated earnings per share of $1.02 on revenue of $718 million, according to Refinitiv data.
Chevron — Energy stock rose 1% after the company beat expectations for first quarter earnings and revenue. The strong results were boosted by the refining activities, which helped offset a drop in oil and gas production due to falling oil prices.
Exxon Mobil — The stock gained 1.3% after the oil giant posted a record profit in the first quarter before the bell, despite the slump in oil prices. Exxon Mobil’s adjusted earnings per share were $2.83, better than the $2.59 expected by analysts polled by Refinitiv. Revenue of $86.56 billion also exceeded the $85.41 billion expected.
Colgate-Palmolive — The consumer giant saw its share price rise 2.4% after the company reported quarterly earnings and earnings that beat expectations. Colgate also raised its annual organic sales forecast, showing consistent price increases and solid demand for its pet food products.
T Mobile — Telecommunications stocks fell 4% after first-quarter revenue disappointed expectations, Refinitiv said. T-Mobile US reported revenue of $19.63 billion, lower than the $19.82 billion estimate.
Bloomin’ Brands — Parent company Outback added 5.1% after its earnings report beat analysts’ expectations. The company reported earnings of 98 cents per share, more than the 89 cents expected by analysts polled by Refinitiv. Sales came in at $1.24 billion, slightly above the $1.22 billion expected.
Alteryx Shares of the data analytics company fell about 19.4% after the company posted first-quarter earnings that fell just short of analyst expectations, according to FactSet, and predicted a larger-than-expected loss for the second quarter. Alteryx also announced an 11% headcount reduction.
Newell Brands — Shares gained 2.3% even after the consumer goods company reported a larger-than-expected loss. Sales exceeded Wall Street expectations.
– CNBC’s Yun Li, Alex Harring, Brian Evans, Jesse Pound, Hakyung Kim, Sarah Min, Tanaya Macheel and Michelle Fox contributed reporting
