People walk past a video sign with the logo of Roku, a Fox-backed video streaming company that went public on the Nasdaq Marketsite in New York on September 28, 2017.
Brendan McDermid | Reuters
Check out the companies making the headlines in Friday mid-day trading.
Amazon — Shares of the e-commerce giant rose more than 11% after the company, bolstering the broader market Reported better-than-expected second-quarter revenue and posted an optimistic outlook. Revenue growth of 7% in the second quarter beat estimates, increasing the trend among Big Tech peers.
Year – Year stocks fell 25% after streaming company reported disappointing results for the second quarter as it faces a slowdown in advertising. The company shared disappointing guidance for the current quarter, noting that declining ad spend and recession fears could continue to impact its business going forward.
Apple — Shares of Apple rose 3% after the company beat Wall Street’s profit and revenue estimates, and CEO Tim Cook says he expects growth to accelerate despite the “pockets of softness”. iPhone sales saw double-digit growth in new customers.
First Sun — Shares of First Solar rose more than 10% after the company reported better-than-expected earnings for the second quarter. Oppenheimer too upped the stock to outperform neutral Referring to an agreement reached between Sen on Friday. Joe Manchin, DW.V. and Senate Majority Leader Chuck Schumer, DN.Y., on a bill that includes climate spending.
strip, ExxonMobil — Energy stocks jump from behind record profits reported in second-quarter earningssupported by higher oil and gas prices. Chevron was up 8.2% and Exxon Mobil was up 4.3%.
blooming 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 were expecting 61 cents per share on revenue of $1.1 billion, according to Refinitiv.
stanley black and tiered — Shares of the toolmaker fell 4% on Friday, building on the 16% loss that followed the disappointing quarterly report and guidance cut on Thursday. Wolfe Research downgraded the stock from better to peer-reviewed, saying “negative news likely dominated” by the end of this year.
Procter and Gamble — Consumer goods company published mixed second quarter results, sending shares down 5%. Procter & Gamble also said it expects rising commodity costs to continue to be a challenge going forward.
Church and Dwight — Stocks fell 8.4% after the consumer goods company behind Arm & Hammer reported a loss in revenue in its most recent quarter, citing higher inflationary pressures.
Intel — Chipmaker shares down 8.8% after second-quarter report far below expectations. Intel reported 29 cents adjusted earnings per share on revenue of $15.32 billion. Analysts surveyed by Refinitiv penned earnings per share of 70 cents on revenue of $17.92 billion. Third-quarter guidance also came in below expectations. Susquehanna downgraded the stock from neutral to negative, warning that free cash flow “could remain under significant pressure for at least the next few years.”
— CNBC’s Yun Li, Jesse Pound, Samantha Subin, Tanaya Macheel, and Carmen Reinicke contributed to the reporting
