See which companies are trending in noon trade.
Shares of Capital One Financial increased by 4%, setting a new 52-week high. While LSEG’s poll of experts predicted $9.46 billion in sales, Capital One reported $9.51 billion in revenue for the fourth quarter on Thursday.
Spirit Airlines: Following JetBlue’s announcement that conditions could prevent the $3.8 billion merger from moving forward, shares of the low-cost carrier fell by about 12%. Meanwhile, shares of JetBlue increased by 2.3%.
Booz Allen Hamilton — According to FactSet, the company’s shares surged 12% following its third-quarter fiscal earnings and revenue beat. In addition, Booz Allen Hamilton increased its forecast for revenue and full-year profitability as well as its quarterly dividend by 8.5%. Strong demand and expanding headcount, according to CEO Horacio Rozanksi, are driving ongoing growth.
Colgate-Palmolive: Following the release of a fourth-quarter earnings and revenue beat, the consumer products business saw a rise of more than 2%. A LSEG poll of analysts predicted that Colgate-Palmolive would earn 85 cents per share on $4.90 billion in revenue, but the company instead reported adjusted earnings of 87 cents per share on $4.95 billion in revenue.
With first-quarter forecast that was below Wall Street’s expectations, Intel, the chipmaker, saw an 11% decline in stock price. Intel reported fourth-quarter earnings that above both expectations and the market on Thursday. However, the company stated that on $12.2 billion to $13.2 billion in sales, it anticipates earnings per share to be 13 cents. On revenue of $14.15 billion, LSEG had projected an earnings per share of 33 cents.
The KLA Corporation The maker of semiconductor equipment had a 5.8% decline on the release of cautious fiscal third-quarter guidance. KLA announced lower earnings than a year ago on Thursday, while exceeding Wall Street’s expectations for revenue and earnings in the fiscal second quarter.
Visa—Despite exceeding expectations on both the top and bottom lines in the first quarter of the company’s fiscal year, the shares fell by almost 2%. Following an increase in operational expenditure estimates, the digital payments company’s stock price dropped.
The company’s full-year outlook exceeded expectations, and American Express’s shares surged by almost 7%. Instead of the $12.38 per share StreetAccount consensus forecast, American Express is expecting full-year earnings between $12.65 and $13.15. Its fourth-quarter results were, indeed, less favourable than anticipated.
Western Digital: Despite the firm reporting a sales beat and a smaller-than-expected loss in earnings per share for the fiscal second quarter, shares of the maker of data storage devices fell by almost 3%. Analyst estimates for Western Digital’s revenue and profit were $2.99 billion and $1.13 per share, respectively, according to LSEG. Instead, the company reported $3.03 billion in revenue and an adjusted loss of 69 cents per share. A positive fiscal third-quarter projection was also provided by the corporation.
Coinbase: The cryptocurrency services provider saw a more than 2% increase in Friday morning trading, aided by a spike in the price of bitcoin. Oppenheimer also upgraded the stock from perform to outperform due to a number of promising catalysts that could materialise this year.
Source (CNBC)
