People walk past a video sign featuring the logo of Roku, a Fox-backed video streaming company that held its IPO on the Nasdaq Marketsite in New York September 28, 2017.
Brendan McDermid | Reuters
Check out the companies making headlines on Friday lunchtime.
Amazon – Shares of the e-commerce giant soared more than 11%, giving the broader market a boost after the company reported better-than-expected second-quarter earnings and an upbeat outlook. Its 7% revenue growth in the second quarter beat estimates and bucked the trend of its big-tech peers.
Roku — Roku shares plunged 25% after the streaming company reported disappointing second-quarter results as it faced a slowdown in advertising. The company shared disappointing guidance for the current quarter, noting that dwindling ad spending and recession fears could continue to hurt business going forward.
APPLE – Shares of Apple rose 3% after the company beat Wall Street’s earnings and revenue forecasts, and CEO Tim Cook said he expected growth to accelerate despite “soft spots.” iPhone sales saw double-digit growth from new customers.
First Solar – First Solar’s shares rose more than 10% after the company reported better-than-expected earnings for the second quarter. Oppenheimer upgraded the stock to outperform from neutral on Friday, citing an agreement between Sen. Joe Manchin, DW.V. and Senate Majority Leader Chuck Schumer, DN.Y., on a bill that includes climate spending.
Chevron, Exxon Mobil – Energy stocks rose on record gains reported in their second-quarter earnings, boosted by higher oil and gas prices. Chevron was up 8.2% and Exxon Mobil was up 4.3%.
Bloomin’ Brands — Shares rose 2.6% after Bloomin’ Brands reported second-quarter results that beat analysts’ expectations. The restaurant company behind Outback Steakhouse and other brands earned 68 cents a share on sales of $1.13 billion. Analysts were expecting earnings of 61 cents a share on sales of $1.1 billion, according to Refinitiv.
STANLEY BLACK & DECKER — Shares of the toolmaker fell 4% on Friday, building on a 16% loss on Thursday, which came after a disappointing earnings report and a cut in guidance. Wolfe Research downgraded the stock from outperforming to peer-performing, saying that negative newsflow is likely to dominate through the end of this year.
Procter & Gamble – The consumer goods company released mixed second-quarter results, sending shares down 5%. Procter & Gamble also said rising raw material costs will continue to be a challenge going forward.
Church & Dwight — Shares fell 8.4% after the consumer goods company behind Arm & Hammer reported lower sales in its most recent quarter, citing greater inflationary pressures.
Intel — Shares of the chipmaker fell 8.8% after a second-quarter report that fell far short of expectations. Intel reported adjusted earnings per share of 29 cents on revenue of $15.32 billion. Analysts polled by Refinitiv had reported earnings per share of 70 cents on sales of $17.92 billion. The forecast for the third quarter also fell short of expectations. Susquehanna downgraded the stock to negative from neutral, warning that free cash flow “could be squeezed significantly, at least for the next few years.”
– CNBC’s Yun Li, Jesse Pound, Samantha Subin, Tanaya Macheel and Carmen Reinicke contributed coverage