Workers load packages into Amazon Rivian electric trucks at an Amazon facility on November 16, 2022 in Poway, California.
Sandy Huffaker | reuters
Check out the companies making headlines in afternoon trading.
Amazon Shares of the e-commerce giant fell by 4%. despite a revenue beat, Late Thursday, Amazon issued weaker-than-expected guidance for the current period. The company also informed growth slowdown Within its cloud business.
Alphabet – The tech giant saw its shares fall 1% after this Disappointing earnings report. Alphabet’s posted earnings per share missed the $1.05 Refinitiv analyst consensus estimate of $1.18 per share. The company’s revenue of $76.05 billion also fell below estimates of $76.53. Despite the tough earnings report, Bank of America reiterates the stock as a buyStating that they expect the results in 2023 to be more encouraging.
Apple – Shares of the iPhone maker rose 3% after analysts said Look at the company’s tough quarter. Apple Missed Profit and Revenue Projections for its latest quarterly print. The company posted its biggest quarterly revenue decline since 2016 as it shrugged off a stronger dollar, China production issues and a tougher macro picture.
nordstrom – 20% increase after retailer The Wall Street Journal reported Activist investor Ryan Cohen is building a stake and will push for changes to the board, citing people familiar with the matter.
clorox — Shares of Clorox rose 7% after the cleaning products company reported earnings. The company made $0.98 per adjusted share on revenue of $1.72 billion, where Wall Street expected $0.65 in adjusted earnings per share and $1.66 billion in revenue, according to Refinitiv.
starbucks Shares of the coffee chain fell more than 3% after the company Wall Street missed expectations to quarterly revenue and reported a hit in its international sales from the Covid surge in China. China is the company’s second largest market.
ford – Ford Motor share shed after 6% Fourth quarter earnings were down of both Wall Street and its own guidance. Deutsche Bank too Automaker shares downgraded to sell ratingciting fourth-quarter misses and doubts over Ford’s 2023 revenue guidance.
bill dot com — Shares tumbled 26% after the market outperformed BMO Capital Markets, which said it was concerned about declines in its core business. The online bill payment company beat analysts’ expectations for the top and bottom lines in its fiscal second quarter, according to FactSet.
Nouveau riche – Shares of AI Lending Platform declined by 1.9% Loup downgraded the stock Prohibition from purchase. Shares have gained nearly 80% year to date. The Wall Street firm said the rally was driven by a short squeeze. Which may not be sustainable.
Generac — The battery backup company slumped 4% after Guggenheim cut the stock to neutral from buy. The firm said that the valuation of the stock is very good after the recent rally.
— CNBC’s Samantha Subin, Hakyung Kim, Tanaya Macheel, Carmen Reinicke and Yun Li contributed reporting