Business

Amazon, Snap, Ford, Clorox and more


Amazon’s logo is seen at the company’s logistics center in Lauwin-Planque, northern France.

Pascal Rossignol | Reuters

Check out the companies that make headlines in midday trading.

Amazon – Amazon’s stock is up more than 14% after one excellent quarterly report. The company said its investment in electric vehicle company Rivian raked in nearly $12 billion in the fourth quarter. Amazon Web Services has almost delivered 40% growth over the same period last year in the fourth quarter, beating Wall Street estimates. Amazon also announced it would Prime price increase to $139 from $119 for the annual membership. The cost of a monthly Prime membership will also increase to $14.99 from $12.99.

Ford Motor – Ford drops more than 10% after quarterly report weaker than expected. The automaker posted earnings of 26 cents per share on revenue of $35.3 billion. Analysts surveyed by Refinitiv expect a profit of 45 cents per share on revenue of $35.52 billion.

Snap – Shares of the social media platform jumped 52% after The company reported its first quarterly net profit. Snap’s quarterly results also show it’s seeing faster-than-expected progress in its transition with advertisers all around Apple privacy changes on iOS. Its shares just sold off 23.6% on Thursday, ahead of the earnings release.

Clorox – Shares of cleaning products fell more than 14% after Clorox’s second-quarter earnings priced at 66 cents per share, 18 cents below expectations, according to Refinitiv. Clorox also released guidance for full-year earnings that fell short of estimates. Atlantic Equities downgraded the stock to underweight.

Pinterest – Pinterest appeared more than 6% after one Quarterly report better than expected. The social media platform posted earnings of 49 cents per share, 4 cents above the Refinitv consensus estimate. Revenue also beat Wall Street expectations.

Unity software – Shares of the video game platform jumped more than 16% after the company reported better-than-expected quarterly results and issued positive guidance for the current quarter. Unity also says it has the opportunity to thrive decades into the future based on real-time interactive 3D gaming.

Skechers – Shares of Skechers added 6.4% after the footwear retailer beat Wall Street expectations for its top and bottom returns. Skechers reports record sales for 2021 amid strong demand for casual and comfortable shoes.

Meta . Platform – Shares of parent company Facebook fall another day after the tech giant disappoints fourth quarter report, down about 1.2%. Friday’s drop came after other social media companies like Snap saw better-than-expected progress in adapting their digital ads to iOS privacy changes. Apple.

Penn National Gaming Penn National Gaming shares fell nearly 3% following the company’s earnings report Thursday. Penn also received a downgrade from Roth to neutral from buy. “While we remain optimistic about PENN’s digital opportunity in the long-term, we see a number of negative catalysts in 2022 that could erode confidence in its market share trajectory,” the company said. ty said.

– CNBC’s Yun Li, Jesse Pound, and Tanaya Macheel contributed reporting



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