Pedestrians cross in entrance of Pinterest signage displayed exterior of the New York Inventory Change.
Michael Nagle | Bloomberg | Getty Photographs
Take a look at the businesses making headlines in noon buying and selling.
Netflix — The leisure inventory sank 6.5% after missing Wall Street expectations for third-quarter earnings and subscriber additions. Netflix added 2.2 million subscribers globally final quarter, under the three.57 projected by analysts surveyed by Refinitiv. The corporate attributed that partly to a surge in sign-ups earlier this yr.
Slack — Shares of the expertise firm dropped 6% after Morgan Stanley downgraded the stock to underweight from equal weight. The monetary agency stated in a be aware that Slack “stays challenged” in differentiate itself from rivals.
Snap – The social media firm surged greater than 32% and hit a brand new all-time excessive after Snap reported a surprise profit for the third quarter. The corporate earned one cent per share on an adjusted foundation, in contrast with the 5-cent loss anticipated by analysts surveyed by Refinitiv. Income got here in at $679 million, which was additionally forward of expectations.
PayPal — Shares of the funds firm rallied 4.4% after announcing a new feature that will allow users to buy, hold and sell cryptocurrencies. The brand new service will launch within the U.S. within the coming weeks.
Pinterest — Shares of the web image-sharing platform popped greater than 11% after Goldman Sachs and Bank of America both upgraded the inventory to purchase. Each companies pointed to sturdy earnings results from Snap as a superb signal for Pinterest’s promoting demand. Goldman slapped a $61 per share worth goal on the inventory, implying almost 35% upside from its earlier shut. Financial institution of America raised its goal to $58 per share.
AutoNation — AutoNation shares popped greater than 4% after the corporate reported quarterly outcomes that beat analyst expectations. AutoNation reported earnings per share of $2.38 on income of $5.4 billion. Analysts anticipated a revenue of $1.65 per share on income of $5.19 billion, in line with Refinitiv. The auto retailer stated used automobile gross sales rose 9.3% and helped drive a stronger-than-forecast gross revenue.
IRobot — Shares of iRobot fell slid greater than 15% regardless of its better-than-expected quarterly outcomes. The corporate reported $2.58 in earnings per share and on $413 million income, each simply topping estimates per Refinitiv. The inventory had an enormous run-up in current weeks and was up greater than 26% in October earlier than the earnings.
Texas Instruments – Shares of the semiconductor firm shed greater than 2% regardless of Texas Devices beating high and backside line estimates through the third quarter. The corporate earned $1.45 per share through the interval, beating estimates by 17 cents. Texas Devices additionally reported its first quarterly income progress in almost two years.
WD-40 – Shares of WD-40 soared 17% after the producer of family and multi-use merchandise posted stronger-than-expected quarterly outcomes. Its earnings got here in at $1.42 per share for its fiscal fourth quarter, beating FactSet estimate of $1.13 per share. The corporate’s income additionally topped estimates as shoppers snapped up home goods through the pandemic.
Teradyne – Shares of Teradyne popped almost 5% after the semiconductor firm posted earnings that topped Wall Road estimates. Teradyne reported earnings per share of $1.18 for the third quarter, above expectations of $1.12 per share, in line with FactSet. Its gross sales additionally beat expectations, boosted by document reminiscence and storage take a look at shipments.
– CNBC’s Maggie Fitzgerald, Pippa Stevens, Jesse Pound and Fred Imbert contributed reporting.
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