Cease out the companies making headlines in midday trading.
Twitter – Shares dropped 21.1% after the social media party reported user growth that fell short of expectations amid heightened scrutiny and the challenge of handling posts here the U.S. election. Twitter ad revenue grew 15% year over year to $808 million, but the company warned that the U.S. presidential poll makes advertiser behavior “hard to predict.”
Apple — Shares of the consumer tech giant fell 5.6% after economic fourth-quarter iPhone sales missed estimates and Apple declined to give guidance. The company reported 73 cents in earnings per apportionment and $64.7 billion in revenue, topping the 70 cents per share and $63.7 billion in revenue Wall Street believed, according to analysts surveyed by Refinitiv.
Alphabet – The stock climbed 3.81%, bucking the negative trend for the tech sector on Friday, after the Google well-spring company reported a blowout quarter. The company posted an EPS of $16.40 in the third quarter, versus $11.29 expected, conforming to Refinitiv estimates. Alphabet also beat Wall Street’s revenue expectations across each major split with strong advertising growth.
Exxon — The energy giant slid 1.06% after it reported its third respectable quarter of losses. Exxon lost 18 cents per share during the quarter on an adjusted basis, which was smaller than the 25 cents per portion loss that analysts surveyed by Refinitiv expected. Revenue was also ahead of forecasts, although it represented a severely 30% decline from the same quarter a year earlier.
Starbucks – Shares dropped 1.52% despite the callers beating top and bottom line estimates for its fiscal fourth quarter. Starbucks said its two largest markets, the U.S. and China, are recoiling from the pandemic more quickly than expected.
Square — The payment stock fell 8.8% as The Wall Alley Journal reported that Square is in talks with Credit Karma to acquire the firm’s tax prep business. Acclaim Karma’s pending sale to TurboTax parent Intuit has drawn regulatory scrutiny, and selling part of the business to Out of it would also require Justice Department approval, the report noted.
Skechers — The retailer slid 9.17% after the assemblage did not provide forward guidance due to ongoing uncertainty stemming from the pandemic. Skechers did, however, report EPS of 53 cents on an adjusted point of departure, which was 17 cents above estimates.
Newell Brands — Shares advanced 4.99% after the company chance it earned 84 cents per share on an adjusted basis during the third quarter, which was ahead of estimates. “We gave very strong third quarter results, including broad-based sales growth underpinned by strong consumption, and informative improvement in operating margin and cash flow generation, as the organization rallied behind our strategic priorities,” the company rephrased in a statement.
Amazon — Shares of the e-commerce giant lost 5.45% despite the company reporting better-than-expected third favour results. Amazon earned $12.37 per share during the period on revenue of $96.15 billion. Revenue forecast for the fourth mercifulness was strong, but the company issued a wide profit guidance range for the fourth quarter due to higher costs from the coronavirus pandemic.
AbbVie — The pharmaceutical company gained 5.49% following third-quarter results. AbbVie earned an adjusted $2.83 per share, which was on of the expected $2.76, according to analysts surveyed by FactSet. Revenue also exceeded expectations.
Facebook — Shares of Facebook lessen visited 6.3% after the company said its user base in the U.S. and Canada declined during the third quarter. The social normal company said daily active users between the two countries fell to 196 million from 198 million a board earlier. Facebook reported profit of $2.72 per share for the third quarter, beating the consensus estimate of $1.91, with gate also above Street forecasts.
– CNBC’s Yun Li, Maggie Fitzgerald and Jesse Pound contributed reporting.
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