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Check out the companies that make headlines for noon trading.
Ford — US carmakers’ share has fallen by about 1%, down from a record hit in the last session. Thursday’s share price surged 6.2% following positive comments from Deutsche Bank and Barclays on Ford’s product plans and a report on its fourth-quarter earnings on February 4. JPMorgan also upgraded Ford from the same weight to overweight on Friday. This week’s stock price has risen by more than 16% at the fastest weekly pace since June.
IBM — IBM’s share price fell 10% following earnings reports that showed a larger than analyst expectation of a decline in earnings. According to Refinitiv, IBM generated $ 20.37 billion in revenue in the fourth quarter, but missed an estimated $ 20.67 billion. However, revenue exceeded the estimate.
Intel — Chipmaker share has fallen by more than 8% Better results than the company expected For that fourth quarter. According to Refinitiv, Intel generated $ 1.52 adjusted earnings per share with $ 20 billion in revenue, surpassing Wall Street’s forecast of $ 1.10 per share and $ 17.49 billion. Part of the decline in stock prices was a reversal of the surge in late Thursday’s session following the early release of Intel’s results.
CSX Corp. — Despite CSX surpassing top-line and bottom-line estimates in the fourth quarter, rail companies’ share fell by more than 2%. The company reported adjusted earnings per share of $ 1.04, which is three cents above consensus expectations. FactSet estimates that revenue is $ 2.83 billion, higher than expected at $ 2.77 billion.
Seagate Technology — Seagate’s share price fell nearly 6% in noon trading, despite decent earnings results. Analysts and investors may have expected the company prior to the quarterly report, which could put downward pressure on the company. Wedbush analyst Matt Bryson said on Friday morning:
PPG Industries — Paint maker inventories also fell in noon trading, despite higher-than-expected profits and sales in the fourth quarter. Atlantic Equity analyst Sam Hudson noted that the company was unable to provide guidance for fiscal year 2021 and said recent high raw material costs could impact second-quarter results. I did.
— CNBC’s Pippa Stevens, Yun Li, Maggie Fitzgerald and Jesse Pound contributed to the report
Ford, IBM, Intel, Seagate
https://www.cnbc.com/2021/01/22/stocks-making-the-biggest-moves-midday-ford-ibm-intel.html Ford, IBM, Intel, Seagate