The logo of the American software company Palantir Technologies is seen in Davos, Switzerland, on January 22, 2020.
Arnd Wiegmann | Reuters
Check out the companies that own the noon trade.
Applied Materials: Chips maker shares rose 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 in demand in our semiconductor business as major macro and industrial trends fuel the growing consumption of silicon in a wide range of markets and applications,” said Gary Dickerson, President and CEO, at a statement. The VanEck Vectors Semiconductor ETF gained more than 2%.
Deere: Farm machinery stocks jumped more than 10% after Deere easily exceeded expectations for its first fiscal quarter. The company reported earnings per share of $ 3.87 for revenue of $ 8.05 million. Analysts surveyed by Refinitiv were expecting $ 2.14 per share and $ 7.222 billion in revenue. Deere’s net sales of its equipment unit increased 23% year-over-year.
Roku: Roku rose 3.8% in midday trading after reporting a quarterly earnings per share of 49 cents, compared to the consensus forecast of a loss of 6 cents per share. Sales figures for the streaming video device maker also exceeded forecasts by 58%, as consumers stayed home during the pandemic.
Dropbox: Dropbox shares fell about 2.5% at noon in New York, as better-than-expected revenue could not offset an overwhelming orientation. Profit reached 4 cents per share ahead of forecasts, with quarterly earnings of 28 cents per share. Still, the company forecasts year-round revenue below analysts ’estimates.
Palantir Technologies: Palantir rallied nearly 13% Friday after investor Cathie Wood, whose selections has proven lucrative over the past year, said it increased its bets on the data company. Wood’s Ark Innovation Fund bought more than 5.2 million shares on Thursday, meaning the stake represents about 0.5% of its total weight.
Planet Fitness: Shares of the gym chain fell more than 2.3% after Planet Fitness’s fourth-quarter earnings fell short of expectations. The company reported 17 cents per adjusted earnings, below the 23 cents per share expected by analysts, according to FactSet. Revenue fell 30% year-over-year.
– CNBC’s Pippa Stevens and Jesse Pound helped report.
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