[ad_1]
Check out the companies making headlines in midday trading. Pinterest — Shares fell about 11% after the image-sharing company issued softer-than-expected guidance for its first-quarter revenue. Late Thursday, Pinterest posted fourth-quarter revenue that disappointed Wall Street, but beat on earnings, per LSEG. CleanSpark – The bitcoin miner surged 37% after posting better than expected results Thursday for its fiscal first quarter. The company reported earnings of 14 cents per share, while analysts had expected a loss of 26 cents per share, according to FactSet. Revenue came in at $73.8 million for the quarter, compared to expectations of $71 million. The company got an extra lift after bitcoin on Friday rose above $47,000 . Expedia – The travel booking company dropped 18% after fourth-quarter bookings disappointed Wall Street. On Thursday, Expedia reported $21.7 billion in bookings, while analysts surveyed by LSEG were expecting $22 billion. The company also announced a CEO change, and Bank of America downgraded the stock to neutral from buy. Take-Two Interactive Software —The stock slid 7% after the video game maker guided for a disappointing forecast in its current quarter. On Thursday, Take-Two Interactive said it sees fiscal fourth-quarter bookings of $1.27 billion to $1.32 billion, compared to analysts’ estimates for $1.51 billion, per LSEG. PepsiCo — Shares fell nearly 3% after the beverage and snacks giant’s fourth-quarter revenue missed expectations. Revenue came in at $27.85 billion, below the $28.4 billion expected from analysts polled by LSEG. Pepsi said high borrowing costs and lower personal savings hurt consumers’ budgets. Cloudflare — Shares soared more than 20% after the cloud services provider beat Wall Street estimates on the top and bottom line in the fourth-quarter and issued optimistic full-year guidance for earnings per share. Late Thursday, Cloudflare reported adjusted earnings of 15 cents per share and revenue of $362 million, while analysts polled by LSEG forecast earnings of 12 cents per share and $353 million in revenue. Bill Holdings — The billing software company dipped more than 12%. Late Thursday, Bill Holdings posted revenue guidance of $299 million to $309 million for the fiscal third quarter. Analysts called for $302 million in revenue, per LSEG. Applied Materials , Lam Research and more – Chip stocks popped in midday trading, pushing the VanEck Semiconductor ETF (SMH) higher by nearly 2%. Applied Materials added nearly 6%, while Lam Research advanced 4%. Chip giant Nvidia jumped 3%. Enphase Energy , First Solar and more – Solar stocks leapt on Friday, boosting the Invesco Solar ETF (TAN) by 3%. Enphase Energy and First Solar each added about 6%, while SolarEdge climbed 4%. All four names are still down sharply on the year. — CNBC’s Tanaya Macheel, Pia Singh, Jesse Pound, Michelle Fox, Lisa Kailai Han and Darla Mercado contributed reporting
[ad_2]
Source link