Activision, Snap, Ford & extra
During the E3 Electronic Entertainment Expo in Los Angeles, California, USA, on Tuesday, June 12, 2018, participants at the company’s booth will play the video game Call Of Duty: Black Ops 4 from Activision Blizzard Inc.
Troy Harvey | Bloomberg | Getty Images
Check out the companies that are making headlines in midday trading.
Ford – The legacy automaker’s stock rose 2% after Ford posted better-than-expected fourth-quarter earnings and informed investors of its plans for electric and autonomous vehicles. The company announced it would spend $ 29 billion on the new technology by 2025. However, sales for the fourth quarter fell short of expectations.
T-Mobile – The telecom company’s shares fell more than 3% despite an unexpectedly strong fourth quarter report. T-Mobile achieved a profit per share of 60 cents and a turnover of 20.34 billion US dollars. Analysts polled by Refinitiv had estimated 51 cents per share and sales of 19.93 billion US dollars. However, the company’s forecast for cash flow metrics in 2021 was not as expected, according to FactSet.
Peloton – Heimfahrrad stock fell more than 7% after the company outlined ongoing problems in the supply chain amid rising demand for its products. However, Peloton posted revenue growth of 128% for the second quarter of its fiscal year, grossing more than $ 1 billion in a single quarter for the first time in company history. Peloton earned 18 cents versus the street expected 9 cents profit. Revenue was $ 1.06 billion, according to Refinitiv, also above the expected $ 1.03 billion.
Activision Blizzard – The video game maker led the S&P 500 up nearly 10% on Friday after reporting fourth-quarter earnings and sales that exceeded Wall Street expectations. Rob Kostich, president of Activision Publishing, said Thursday night that his Call of Duty franchise, including the free Warzone, was a major driver of the company’s 2020 business, and that the game “will be at the forefront” and Center for us for a long time. “
Snap – The social media company saw its shares surge nearly 6% after beating expectations for earnings, revenue, and user growth. According to Refinitiv, Snap achieved adjusted earnings per share of 9 cents, down from 7 cents that analysts had expected. However, the company issued a slight forecast for the first quarter, warning that Apple’s privacy changes “could pose another risk of disruption to demand.”
Estee Lauder – The makeup company saw its shares surge 7.5% in mid-day trading after seeing surprising revenue gains in the second quarter of the fiscal year instead of the expected decline. Estee Lauder said stronger Asia Pacific sales and online sales drove sales growth. Revenue in America declined in the second quarter from $ 1.23 billion a year ago to $ 1.05 billion.
– CNBC’s Yun Li, Maggie Fitzgerald, and Jesse Pound contributed.