Business

Ford, eBay, Tesla, Merck, more

Ford Motor Co. CEO Jim Farley walks to talk at a information convention on the Rouge Complicated in Dearborn, Michigan, September 17, 2020.

Rebecca Prepare dinner | Reuters

Try the businesses making headlines in noon buying and selling.

Ford Motor — Shares of the automaker soared greater than 9% after a stellar earnings report. Ford Motor, which reported earnings Wednesday, practically doubled Wall Avenue’s earnings expectations and barely beat income projections for the third quarter. The automaker additionally elevated its annual steerage for the second time this yr.

eBay — The e-commerce firm’s inventory fell roughly 6.3% after a weak fourth-quarter income steerage. eBay topped earnings expectations by 1 cent per share and beat income estimates, based on Refinitiv, nevertheless.

Tesla — Shares of Tesla continued climbing as Piper Sandler hiked its price target on the electrical car inventory to a brand new Avenue excessive. The inventory traded up 3.2%. Piper Sandler raised its share value forecast to $1,300 from $1,200, implying 25% potential upside from Wednesday’s shut.

Apple, Amazon — Massive Tech names Apple and Amazon traded increased forward of their quarterly earnings stories after the bell Thursday. Apple gained 2.3%, whereas Amazon rose 2.1%.

Caterpillar — Shares of Caterpillar rose 3.3% after it reported a third-quarter beat on bottom-line estimates regardless of a slight income miss. The heavy gear maker recorded earnings of $2.66 per share, beating analysts’ estimates of $2.20.

Naked Wines — Shares of Bare Wines leapt about 50% after hedge fund supervisor Glen Kacher revealed the company as a high decide on CNBC’s “Halftime Report” Thursday. Kacher has constructed a 9.9% stake within the wine distributor.

Merck — The drug maker jumped greater than 5% after reporting its quarterly earnings. Merck introduced in $1.75 per share, beating estimates by 20 cents, and topping income estimates due to stronger gross sales of vaccines and most cancers medicine.

Anheuser-Busch — Shares of the beer brewer soared 8.5% after a shock enhance in third-quarter revenue. The corporate additionally raised its earnings forecast for the yr.

Northrop Grumman – Shares of the protection contractor dropped greater than 6% after the the corporate’s third-quarter revenues got here in at $8.72 billion, brief the anticipated $8.95 billion, based on Refinitiv. The corporate noticed year-over-year gross sales declines in its aeronautics and protection segments. Northrop did beat expectations for earnings per share.

Twilio — Shares of Twilio sunk greater than 15% despite better-than-expected quarterly earnings results. Twilio earned 1 cent per share, higher than the 15 cent loss per share anticipated, based on Refinitiv. Income additionally got here in above estimates. Nevertheless, Twilio forecast a wider-than-expected loss within the fourth quarter. COO George Hu additionally introduced his departure.

Teradyne — Teradyne’s inventory surged 11% after a better-than-expected earnings report. The gear maker reported adjusted revenue of $1.59 per share on income of $950.5 million. Analysts surveyed by StreetAccount anticipated earnings of $1.43 per share on income of $932.9 million. Teradyne additionally acquired upgrades from Cowen and UBS following the earnings report.

Tempur Sealy — The mattress firm’s shares fell 3.7% regardless of reporting sturdy quarterly outcomes. Tempur Sealy recorded earnings of 88 cents per share for the quarter, beating estimates by 3 cents. It additionally reported a income beat and a robust gross sales enhance in worldwide markets.

Teladoc Health — Shares of telehealth firm popped greater than 8% in noon buying and selling after reporting a smaller-than-expected earnings loss for the third quarter. Teladoc misplaced 53 cents per share, whereas analysts anticipated a lack of 65 cents per share, based on Refinitiv. The corporate made $522 million in income, topping estimates of $517 million.

ServiceNow — Shares of the software program firm rose 3.6% in noon buying and selling after beating on the highest and backside traces of its quarterly outcomes. ServiceNow reported earnings of $1.55 on income of $1.51 billion. Wall Avenue anticipated earnings of $1.38 per share on income of $1.48 billion, based on Refinitiv.

American Express — Shares of American Specific dipped greater than 2% after the corporate announced a brand new absolutely digital enterprise checking account and its first ever enterprise debit card.

— CNBC’s Tanaya Macheel, Maggie Fitzgerald, Yun Li and Jesse Pound contributed reporting

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