Check out the companies that are trending in intraday trading. Cisco Systems — Shares of this tech company fell 2.4% after second-quarter sales fell. Cisco also announced a lighter-than-expected outlook for the third quarter and announced headcount reduction plans that will lead to a 5% reduction in headcount. Twilio — Cloud communications stock fell 15% after reporting disappointing first-quarter guidance. Twilio beat expectations for the fourth quarter, but expects revenue to be in the range of $1.025 billion to $1.035 billion, compared to $1.049 billion expected by analysts surveyed by LSEG. said. EPS forecasts were also lower. Supermicrocomputer — The technology name added 14% after Bank of America said its stock could rise to a Wall Street high of $1,040. The call comes as the stock has been on a spectacular rise, even though many analysts were predicting a sharp decline ahead. Applovin — The game developer soared nearly 25% after reporting strong fourth-quarter results and guidance for the current quarter that beat Wall Street expectations. For the most recent quarter, Applovin reported earnings of 49 cents per share and revenue of $953 million. Wells Fargo — The company’s stock soared 7% after the Office of the Comptroller of the Currency announced it was terminating a 2016 consent order. This is the sixth consent order the regulator has terminated since 2019. The consent order was issued in the wake of the fake account scandal and required banks to revamp the way they sell and market their products. Deere — Shares fell 5.2% after the agricultural machinery maker lowered its 2024 profit forecast to a range of $7.55 billion to $7.75 billion, from its previous estimate of $7.75 billion to $8.25 billion It fell. Mr Deere said high borrowing rates were hurting demand. However, the company beat first-quarter profit and revenue expectations. TripAdvisor — Shares rose more than 9% to his 52-week high after better-than-expected earnings. TripAdvisor reported he earned 38 cents per share excluding items on revenue of $390 million. Analysts polled by LSEG had expected earnings of 22 cents a share and revenue of $374 million. Shake Shack — Fast food stock rises 26% after better-than-expected fourth-quarter report. Shake Shake’s adjusted earnings were 2 cents per share on sales of $286.2 million, while analysts surveyed by LSEG expected earnings of 1 cent per share on sales of $280.3 million. was. The company also said it expects 2024 revenue to increase by at least 11%. ALBEMARLE — The lithium producer’s stock rose 2.7% despite a 10% drop in fourth-quarter net sales. According to Street Accounts, Albemarle’s sales were $2.36 billion, beating analysts’ expectations of $2.18 billion. Coinbase — Coinbase rose 3% after JPMorgan upgraded the stock to neutral, citing recent increases in cryptocurrency prices. Stellantis — Shares rose 6.6% after the parent company of Chrysler and Fiat announced a new stock buyback program. JFrog — The software development stock soared 28%, beating Wall Street’s fourth-quarter expectations. JFrog earned 19 cents per share excluding items on revenue of $97 million. The company beat FactSet estimates for earnings of 12 cents per share on revenue of $93 million. Zebra Technologies — Strong earnings and better-than-expected guidance drove the stock up 12%. The company posted earnings per share excluding items of $1.71 on sales of $1.01 billion in the fourth quarter, indicating that the decline in sales growth in the first quarter was smaller than expected. showed the outlook. Penn Entertainment — Shares fell more than 13% after the parent company of ESPN Bet missed Wall Street expectations for fourth-quarter revenue and bottom line. Earnings were negatively impacted by higher-than-expected promotional and advertising costs for ESPN Bet, which Penn plans to introduce in North Carolina next month. — CNBC’s Jesse Pound, Ha-Kyung Kim, Alex Harring, Michelle Fox, Brian Evans and Christina Cheddar-Burke contributed reporting.
Stocks with the biggest moves at midday: CSCO, TWLO, SMCI
