Check out the corporations making headlines in noon buying and selling.
Twitter – Shares dropped 21.1% after the social media firm reported person progress that fell wanting expectations amid heightened scrutiny and the problem of dealing with posts round the U.S. election. Twitter advert income grew 15% yr over yr to $808 million, however the firm warned that the U.S. presidential election makes advertiser habits “hard to predict.”
Apple — Shares of the shopper tech big fell 5.6% after fiscal fourth-quarter iPhone gross sales missed estimates and Apple declined to present steerage. The firm reported 73 cents in earnings per share and $64.7 billion in income, topping the 70 cents per share and $63.7 billion in income Wall Street anticipated, in keeping with analysts surveyed by Refinitiv.
Alphabet – The inventory climbed 3.81%, bucking the destructive development for the tech sector on Friday, after the Google dad or mum firm reported a blowout quarter. The firm posted an EPS of $16.40 in the third quarter, versus $11.29 anticipated, in keeping with Refinitiv estimates. Alphabet additionally beat Wall Street’s income expectations throughout every main part with robust promoting progress.
Exxon — The vitality big slid 1.06% after it reported its third straight quarter of losses. Exxon misplaced 18 cents per share throughout the quarter on an adjusted foundation, which was smaller than the 25 cents per share loss that analysts surveyed by Refinitiv anticipated. Revenue was additionally forward of forecasts, though it represented a roughly 30% decline from the similar quarter a yr earlier.
Starbucks – Shares dropped 1.52% regardless of the firm beating prime and backside line estimates for its fiscal fourth quarter. Starbucks mentioned its two largest markets, the U.S. and China, are rebounding from the pandemic more rapidly than anticipated.
Square — The fee inventory fell 8.8% as The Wall Street Journal reported that Square is in talks with Credit Karma to amass the agency’s tax prep enterprise. Credit Karma’s pending sale to TurboTax dad or mum Intuit has drawn regulatory scrutiny, and promoting a part of the enterprise to Square would additionally require Justice Department approval, the report famous.
Skechers — The retailer slid 9.17% after the firm didn’t present ahead steerage resulting from ongoing uncertainty stemming from the pandemic. Skechers did, nevertheless, report EPS of 53 cents on an adjusted foundation, which was 17 cents above estimates.
Newell Brands — Shares superior 4.99% after the firm mentioned it earned 84 cents per share on an adjusted foundation throughout the third quarter, which was forward of estimates. “We delivered very strong third quarter results, including broad-based sales growth underpinned by strong consumption, and significant improvement in operating margin and cash flow generation, as the organization rallied behind our strategic priorities,” the firm mentioned in a press release.
Amazon — Shares of the e-commerce big misplaced 5.45% regardless of the firm reporting better-than-expected third quarter outcomes. Amazon earned $12.37 per share throughout the interval on income of $96.15 billion. Revenue forecast for the fourth quarter was robust, however the firm issued a large revenue steerage vary for the fourth quarter resulting from increased prices from the coronavirus pandemic.
AbbVie — The drug firm gained 5.49% following third-quarter outcomes. AbbVie earned an adjusted $2.83 per share, which was forward of the anticipated $2.76, in keeping with analysts surveyed by FactSet. Revenue additionally exceeded expectations.
Facebook — Shares of Facebook dropped 6.3% after the firm mentioned its person base in the U.S. and Canada declined throughout the third quarter. The social media firm mentioned day by day lively customers between the two international locations fell to 196 million from 198 million 1 / 4 earlier. Facebook reported revenue of $2.72 per share for the third quarter, beating the consensus estimate of $1.91, with income additionally above Street forecasts.
– CNBC’s Yun Li, Maggie Fitzgerald and Jesse Pound contributed reporting.
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