Signage for Snapchat’s parent company, Snap Inc., graces the New York Stock Exchange on March 2, 2017 in New York City.
Getty Images
Learn about the companies making headlines in mid-day trading.
American Express Shares of the credit card company climbed 2.9% as growth in travel and entertainment spending helped American Express beat Wall Street estimates. The company reported $2.57 in earnings per share on revenue of $13.40 billion in the second quarter. Analysts surveyed by Refinitiv reported revenue of $12.50 billion, at $2.41 per share.
crack – Snap fell after 38% Disappointing results of the company in the second quarter, Snapchat’s parent company, which also said it plans to slow hiring, cited changes to Apple iOS and slowing demand for its online advertising platform as reasons for the miss on the top and bottom lines. . got snap Wall Street affected by wave of downgrades based on results,
Tech Stocks – Shares of tech companies that rely on online advertising slipped after Snap’s disappointing results. shares of meta platform, Alphabet And Pinterest These names could also be impacted by fears of a drop in online ad sales, falling 7.6%, 6% and 14%, respectively.
Twitter – Social media stock rose nearly 1% higher Even after the company posted disappointing results in the most recent quarter. Twitter cited broader advertising market headwinds and uncertainty related to the Elon Musk acquisition deal as reasons for the drop in revenue.
Verizon — Verizon shares fell more than 7% The company cut its full-year forecast and said it added 12,000 net retail phone customers, far less than the 1,44,000 estimated by StreetAccount. According to Refinitiv, adjusted quarterly earnings fell short of estimates.
mantel — Shares of the toymaker fell more than 6%, despite the company reporting a beat on the top and bottom lines for its most recent quarter. American Girl sales dropped about 20%, Mattel said.
Paramount Global – shares of Paramount drops more than 3% after MoffettNathanson downgrade The company to try and lower its price target for the stock. The firm said its low rating was due to the potential for an upcoming recession, which would slow advertiser spending and put additional pressure on the company.
Capital One Financial Shares of Capital One fell 5.7% after the financial services company missed earnings and revenue estimates in the most recent quarter. The company reported earnings per share of $4.96 on $8.23 billion in revenue.
seagate — The technology stock is down 9.1% in the recent quarter after missing estimates on the top and bottom lines. Seagate reported earnings per share of $1.59 on revenue of $2.63 billion.
spontaneous surgery — The medical device company’s stock dropped 5.7% in the most recent quarter after missing estimates on earnings and revenue. According to Refinitiv, earnings per share were 5 cents below estimates.
Schlumberger Oilfield services stock added 4.8% on the back of quarterly results, beating expectations on the top and bottom lines. Schlumberger also raised his outlook for the full year.
HCA Healthcare — Shares of the hospital operator rose about 12.2% after posting adjusted earnings of $4.21 per share on revenue of $14.82 billion. Analysts forecast earnings of $3.70 per share on $14.72 billion in revenue.
— CNBC’s Tanaya Machiel, Carmen Reinecke and Jesse Pound contributed reporting