Stocks moving around midday: PTON, AMD, SNAP
A sign hangs over the entrance of a Foot Locker store in Chicago, Illinois, on August 02, 2021.
Scott Olson | Getty Images
Check out the companies making headlines on Wednesday afternoon.
foot cabinet — Shares gained 2.6% after Credit Suisse upgraded the stock to above average from neutral. The retailer could see an uptick versus expected earnings in 2024 and 2025 as its strategic plan takes shape, according to the company.
modern micro devices — Shares in chipmaker Advanced Micro Devices rose 7.9% after the company reported earnings that beat Wall Street expectations, according to Refinitiv. AMD also showed relative strength after rival Intel’s disappointing quarter, analysts said.
snap — Shares of the social media company plunged 14% after the company reported quarterly earnings that fell short of Wall Street expectations, according to Refinitiv. Snap had a tough 2022 as a slowing economy prompted many companies to cut their digital advertising budgets. For a third straight quarter, Snap declined to provide guidance. However, his earnings exceeded estimates.
Game — Shares of the online dating company fell 9% after earnings for the most recent quarter fell short of analysts’ expectations, according to FactSet. Match also announced that it is reducing its global workforce by 8% and provided a first-quarter revenue guidance that was lower than analysts had expected.
Strings — Shares rallied about 7% after the company reported adjusted earnings of $3 per share for the fourth quarter, ahead of FactSet’s estimate of $2.84. Revenue also exceeded expectations.
peloton – Peloton shares plummeted nearly 18% after the earnings release this morning. According to Refinitiv, the company’s second-quarter revenue beat analysts’ forecasts. The fitness company saw a jump in subscription revenue. Peloton’s net loss was also its lowest since the fourth quarter of fiscal 2021. CEO Barry McCarthy said the results were a potential “turning point” for the company.
Bricker International — Restaurant stock shares fell 5.5% even as Brinker beat estimates for revenue and earnings for the fiscal second quarter. Chili’s parent company reported adjusted earnings per share of 76 cents on sales of $1.02 billion. Analysts polled by Refinitiv had said 52 cents a share on revenue of $992 million. However, Brinker’s management said during its investor call that its restaurants may have lost some customer traffic share during the quarter.
Scott’s Miracle Gro — Shares rose 4% after the lawn and garden products maker released quarterly results on Wednesday that reflected a smaller-than-expected loss and a hit to analysts’ sales estimates, according to Refinitiv.
altria – Shares of the cigarette and tobacco maker rose more than 4% after earnings for the latest quarter beat estimates, according to Refinitiv. Altria also unveiled a $1 billion share buyback program.
Electronic Arts – Electronic Arts shares fell 12% a day after the company reported adjusted earnings and net bookings that fell short of analysts’ expectations, according to FactSet.
– CNBC’s Samantha Subin, Alex Harring, Jesse Pound, Yun Li, Carmen Reinicke, Michelle Fox Theobald and Hakyung Kim contributed coverage.
https://www.cnbc.com/2023/02/01/stocks-moving-big-midday-pton-amd-snap.html Stocks moving around midday: PTON, AMD, SNAP