Check out the companies making headlines in midday trading. Starbucks — Shares jumped 9.5% after the company posted an earnings and revenue beat in the fiscal fourth quarter. Management also reported better-than-expected performance in China, its second-largest market. Roku — The streaming video platform rallied 30.7% after its latest quarterly announcement. The company’s third-quarter revenue and guidance for the fourth quarter came above analysts’ expectations. Roku reported $912 million in revenue, versus the $855 million Wall Street had forecast, according to LSEG, formerly known as Refinitiv. SolarEdge — The solar stock dropped 4% a day after SolarEdge posted disappointing third-quarter results and slashed its outlook for the current quarter’s revenue. The company was downgraded Thursday by multiple firms, including Truist, BMO Capital Markets and Guggenheim, on the back of its earnings. Shopify — Shares of the e-commerce company soared 22.4% after Shopify beat on the top and bottom lines for the third quarter. Shopify, which makes tools for companies to sell products online, also gave upbeat guidance for the remainder of the year. The stellar earnings report came after Shopify sharpened its focus on costs. Palantir — Shares surged 20.4% after the company’s third-quarter results topped estimates from strong demand for its artificial intelligence offerings. Palantir also raised its revenue guidance to between $2.216 billion and $2.22 billion for the full year. Moderna — Shares of the drugmaker tumbled 6.5% after Moderna posted a steep third-quarter earnings loss amid a decline in demand for its Covid vaccine. The company said it took a big write-down because of unused vaccines. e.l.f. Beauty — The cosmetics company added 3.7% a day after beating expectations of analysts polled by LSEG for its fiscal second quarter. The company also raised its full-year outlook for the second quarter in a row. Eli Lilly — Shares of the drug maker jumped 4.7%…
Read the full article here
Leave a Reply