Business

Twitter, Robinhood, GM, Microsoft and more

Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Sq. speaks on stage on the Bitcoin 2021 Conference, a crypto-currency convention held on the Mana Conference Middle in Wynwood on June 04, 2021 in Miami, Florida.

Joe Raedle | Getty Photographs

Try the businesses making headlines in noon buying and selling.

Coca-Cola — Shares of Coca-Cola gained 1.8% after the beverage large’s quarterly results beat on each prime and backside strains. Coca-Cola reported adjusted earnings of 65 cents per share, 7 cents increased than the Refinitiv consensus estimate. The corporate additionally hiked its full-year forecast.

McDonald’s — McDonald’s shares ran up 2.7% after the fast-food chain beat earnings estimates. The corporate reported adjusted quarterly earnings of $2.76 per share, in contrast with the anticipated $2.46 per share. Larger costs and new menu gadgets helped enhance the corporate’s income.

Boeing — Shares of Boeing dipped 1.1% after a wider-than-expected quarterly loss. The plane maker posted an adjusted quarterly lack of 60 cents per share, in contrast with 20 cents per share anticipated. Income additionally missed expectations.

General Motors — GM shares fell 4.3% regardless of an earnings beat. The automaker posted revenue of $1.52 per share on income of $26.78 billion, whereas Wall Road anticipated earnings of 96 cents per share on income of $26.51 billion.

Harley-Davidson — Shares of the motorbike producer jumped greater than 8% after it reported its quarterly outcomes. The corporate reported $1.18 per share in adjusted diluted earnings per share, in comparison with analysts’ estimate of 77 cents per share, based on FactSet. Harley additionally topped income forecasts.

Spotify — Spotify shares rose 6.4% after the audio streaming service posted a wider-than-expected quarterly loss, however income and consumer progress topped estimates. The corporate stated its podcast section boosted income.

Microsoft — Shares of the tech large popped 4.6% following a stronger-than-expected quarterly report. Microsoft reported adjusted earnings of $2.27 per share for its fiscal first quarter, exceeding analysts’ estimates of $2.07 per share, based on Refinitiv. Complete firm income climbed nearly 22% 12 months over 12 months, marking the quickest progress since 2018.

Alphabet — Shares of Alphabet gained 6.2% after the Google-parent company beat on earnings. Alphabet reported earnings of $27.99 per share, in contrast with $23.48 anticipated, based on Refinitiv. Administration stated Apple’s privateness options solely had a “modest impression” on YouTube revenues.

Twitter — Shares of Twitter fell greater than 9% regardless of the corporate’s third-quarter report, which met analysts’ expectations for revenue and user growth. Twitter additionally stated Apple’s privateness adjustments had much less of an impression than anticipated. Nonetheless, the corporate stated bills, similar to investing in head rely progress, will bleed into 2022.

Robinhood — Shares of the brokerage slipped greater than 10% after Robinhood reported a prime and backside line miss for its third-quarter earnings and delivered a bleak outlook for the present quarter. Income was dragged down by a slowdown in crypto buying and selling and Robinhood warned that the headwinds in buying and selling will persist into year-end. The shares is now buying and selling under its IPO value of $38 per share.

Visa — The funds large noticed shares fall 5.3% after it issued a conservative income outlook throughout as a part of its quarterly earnings report. Visa introduced in $1.62 per share, beating expectations by 8 cents. It additionally exceeded income expectations, due to a rise in on-line and journey spending.

Enphase Energy — Shares of the photo voltaic firm surged 27.9% after Enphase reported record revenue through the third quarter. The microinverter maker posted gross sales of $351.5 million through the interval, which was up 11% quarter over quarter. Enphase additionally issued upbeat steerage for the present quarter.

Six Flags — Shares of Six Flags dropped 10.6% after the corporate’s quarterly outcomes bested expectations. Six Flags reported earnings of $1.80 per share on income of $638 million, whereas analysts surveyed by Refinitiv anticipated earnings of $1.55 per share on income of $587 million.

F5 Networks — F5 Networks shares added 7.4% after a stable earnings report. The corporate reported adjusted earnings of $3.01 per share on income of $682 million. Analysts surveyed by StreetAccount anticipated earnings of $2.75 on income of $672 million.

Fiserv — Fiserv shares sank 11% after the corporate beat earnings-per-share expectations by simply 2 cents and income got here in as anticipated, based on StreetAccount.

— CNBC’s Tanaya Macheel, Yun Li, Maggie Fitzgerald, Pippa Stevens contributed reporting

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