Roku, Amazon, First Solar, Intel, Apple and more

People walk past a sign with the logo of Roku, the Fox-backed video streaming company that went public on the Nasdaq marketplace in New York, Sept. 28, 2017. Brendan McDermid | Reuters Check out the companies that made the headlines on Friday afternoon. Amazon – Shares of the e-commerce giant jumped 10.4%, boosting the broader …

Roku, Amazon, First Solar, Intel, Apple and more

People walk past a sign with the logo of Roku, the Fox-backed video streaming company that went public on the Nasdaq marketplace in New York, Sept. 28, 2017.

Brendan McDermid | Reuters

Check out the companies that made the headlines on Friday afternoon.

Amazon – Shares of the e-commerce giant jumped 10.4%, boosting the broader market after the company reported higher-than-expected second-quarter revenue and issued an upbeat outlook. Revenue growth of 7% in the second quarter beat forecasts, contrary to the trend among her peers at big tech companies.

Roku – Shares of Roku fell 23.1% after the streaming company reported disappointing second-quarter results as it faced a slowdown in ad growth. The company shared a disappointing outlook for the current quarter, noting that cuts in advertising spending and recession fears could continue to weigh on its business going forward.

Apple – Apple shares rose 3.3% after the company beat Wall Street’s earnings and earnings guidance, with CEO Tim Cook saying he expects growth to pick up despite “pockets of weakness.” Its iPhone sales saw double-digit growth in new customers.

First Solar – Shares of First Solar rose 12.1% after the company reported higher-than-expected second-quarter earnings. Oppenheimer also upgraded the stock from neutral on Friday, citing a deal reached between Senator Joe Manchin, DW.V. and Senate Majority Leader Chuck Schumer, DN.Y., on a bill that includes climate spending.

Chevron, Exxon Mobil – Energy stocks rebounded on record second-quarter earnings, boosted by higher oil and gas prices. Chevron jumped 8.9% and Exxon Mobil added 4.6%.

Bloomin’ Brands – Shares jumped 3.1% after Bloomin’ Brands reported second-quarter earnings that beat analysts’ expectations. The restaurant company behind Outback Steakhouse and other brands earned 68 cents per share on $1.13 billion in revenue. Analysts were expecting earnings of 61 cents per share on revenue of $1.1 billion, according to Refinitiv.

Stanley Black & Decker – Shares of the toolmaker fell 1.3% on Friday, building on Thursday’s 16% drop following a disappointing quarterly report and lower guidance. Wolfe Research has downgraded the company’s stock from Overweight to Analog, saying “negative news is likely to prevail” through the end of this year.

Procter & Gamble – The consumer goods company posted mixed results for the second quarter, sending shares down 6.2%. Procter & Gamble also said it expects rising commodity prices to continue to be a problem going forward.

Church & Dwight – Shares fell 8.6% after the home goods company behind Arm & Hammer reported lower earnings in the latest quarter, citing rising inflationary pressures.

Intel – The chip maker’s shares tumbled 8.6% after a lower-than-expected second-quarter report. Intel reported adjusted earnings per share of 29 cents on revenue of $15.32 billion. Analysts polled by Refinitiv posted earnings per share of 70 cents on revenue of $17.92 billion. The forecast for the third quarter was also below expectations. Susquehanna downgraded the stock from neutral to negative, warning that free cash flow could be “significantly reduced for at least the next few years.”

– CNBC’s Yoon Lee, Tanaya Macheel, Jesse Pound, Carmen Reinicke, and Samantha Subin provided reporting.


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