Courtesy: Lucid Motors
Take a look at the businesses making headlines in noon buying and selling.
Nvidia — The chip inventory spiked 12% after Nvidia topped expectations on the top and bottom lines in its most up-to-date quarter. Wall Road analysts authorised of the outcomes, saying AI opportunities will drive growth for the chipmaker.
Lucid Group — The electrical automobile maker tumbled greater than 18% after posting fourth-quarter revenue that fell in need of analysts’ expectations. Financial institution of America additionally downgraded the stock to neutral from a purchase score, citing near-term demand considerations.
Bumble — Shares added greater than 4% after Bumble beat fourth-quarter income expectations. Nonetheless, the corporate posted a quarterly lack of 85 cents per share, a determine that included an impairment cost from shutting down operations in Russia and Belarus.
Mosaic Company — Shares of the fertilizer mineral firm added 1.4% on Thursday after Mosaic’s quarterly income got here in larger than anticipated. The corporate generated $4.48 billion in income, whereas analysts surveyed by StreetAccount have been anticipating $4.17 billion income. Mosaic’s adjusted earnings per share did miss expectations, however the firm mentioned it anticipated a “restoration in demand for fertilizers” this yr.
Lordstown Motors — Shares of the electrical automobile maker slid 14% after the corporate introduced a production and delivery pause to handle high quality points with sure Endurance parts. Lordstown can even voluntarily recall 19 Endurance pickups to handle a “particular electrical connection difficulty that would end in a lack of propulsion whereas driving.”
Domino’s Pizza, Papa John’s International — The pizza chains fell 11% and seven.6%, respectively, after they reported mixed earnings. Domino’s income and same-store gross sales missed analyst estimates, whereas its adjusted earnings per share beat. Papa John’s beat on each earnings and income, however missed estimates on North American company-owned restaurant gross sales.
Nikola — Shares fell greater than 7% after Nikola reported quarterly revenue that disappointed analyst expectations. The electrical truck maker mentioned it delivered simply 20 battery-electric vans to sellers regardless of producing 133 vans within the fourth quarter.
eBay — Shares dropped 8.3% even after eBay reported fourth-quarter earnings that missed expectations. The web vendor of products posted a revenue of 77 cents per share, beneath the Refinitiv estimate of 81 cents per share.
Alibaba Group — Shares fell greater than 2% even after the Chinese language e-commerce large’s fiscal third-quarter earnings beat analyst estimates. Earnings per American depository receipt share got here in at 46.82 billion yuan, versus the 34.02 billion yuan anticipated. Income was 247.76 billion Chinese language yuan ($35.92 billion), topping estimates of 245.18 billion Chinese language yuan.
Moderna — The pharmaceutical inventory fell greater than 8% after Moderna reported weaker-than-expected earnings for the fourth quarter, citing rising prices from surplus manufacturing capability and decrease demand for its Covid-19 vaccine.
— CNBC’s Michelle Fox, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting