The logo of the United States software company Palantir Technologies is seen in Davos, Switzerland, on January 22, 2020.
Arnd Wiegmann | Reuters
Check out the companies that are making headlines in the midday trading session.
Applied Materials – The chip maker’s shares jumped more than 7% after Applied Materials exceeded estimates during the fourth quarter and issued optimistic comments for the current quarter. “We have seen a continuous acceleration of demand in our semiconductor business, as key macro and industry trends fuel growing silicon consumption in a wide range of markets and applications,” said Gary Dickerson, president and CEO, in a statement. The VanEck Vectors Semiconductor ETF gained more than 2%.
Deere – The inventory of agricultural machinery increased by more than 10% after Deere easily exceeded expectations for the first fiscal quarter. The company reported earnings per share of $ 3.87 to $ 8.05 billion in revenue. Analysts polled by Refinitiv had expected $ 2.14 per share and $ 7.22 billion in revenue. Deere’s net sales of its equipment unit increased 23% year-over-year.
Roku – Roku rose 3.8% in the midday trading session after reporting a quarterly earnings per share of 49 cents, compared to consensus forecasts of 6 cents loss per share. Sales figures from the manufacturer of the streaming video device also exceeded forecasts, with an increase of 58%, as consumers stayed at home during the pandemic.
Dropbox – Dropbox’s shares fell about 2.5% around midday in New York, as better-than-expected gains failed to offset under-projections. Profit came in at 4 cents per share ahead of estimates, with quarterly earnings of 28 cents per share. Still, the company predicted revenue for the entire year below analysts’ estimates.
Palantir Technologies – Palantir recovered nearly 13% on Friday after investor Cathie Wood, whose choices proved profitable last year, said it had increased its bets on the data company. The Wood’s Ark Innovation fund bought more than 5.2 million shares on Thursday, which means that the stake is about 0.5% of its total weight.
Planet Fitness – The shares of the fitness chain fell more than 2.3% after Planet Fitness’s fourth quarter earnings fell short of expectations. The company reported 17 cents of adjusted earnings per share, down from the 23 cents per share expected by analysts, according to FactSet. Revenue fell 30% year on year.
– Pippa Stevens and CNBC’s Jesse Pound contributed reporting.
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