Courtesy: Lucid Motors
Try the businesses making headlines in noon buying and selling.
Nvidia — The chip inventory spiked 12% after Nvidia topped expectations on the highest and backside strains in its most up-to-date quarter. Wall Avenue analysts accepted of the outcomes, saying AI alternatives will drive progress for the chipmaker.
Lucid Group — The electrical car maker tumbled greater than 18% after posting fourth-quarter income that fell in need of analysts’ expectations. Financial institution of America additionally downgraded the inventory to impartial from a purchase ranking, citing near-term demand considerations.
Bumble — Shares added greater than 4% after Bumble beat fourth-quarter income expectations. Nevertheless, the corporate posted a quarterly lack of 85 cents per share, a determine that included an impairment cost from shutting down operations in Russia and Belarus.
Mosaic Firm — Shares of the fertilizer mineral firm added 1.4% on Thursday after Mosaic’s quarterly income got here in greater than anticipated. The corporate generated $4.48 billion in income, whereas analysts surveyed by StreetAccount had been anticipating $4.17 billion income. Mosaic’s adjusted earnings per share did miss expectations, however the firm mentioned it anticipated a “restoration in demand for fertilizers” this yr.
Lordstown Motors — Shares of the electrical car maker slid 14% after the corporate introduced a manufacturing and supply pause to handle high quality points with sure Endurance parts. Lordstown may also voluntarily recall 19 Endurance pickups to handle a “particular electrical connection situation that would lead to a lack of propulsion whereas driving.”
Domino’s Pizza, Papa John’s Worldwide — The pizza chains fell 11% and seven.6%, respectively, after they reported combined earnings. Domino’s income and same-store gross sales missed analyst estimates, whereas its adjusted earnings per share beat. Papa John’s beat on each earnings and income, however missed estimates on North American company-owned restaurant gross sales.
Nikola — Shares fell greater than 7% after Nikola reported quarterly income that dissatisfied analyst expectations. The electrical truck maker mentioned it delivered simply 20 battery-electric vans to sellers regardless of producing 133 vans within the fourth quarter.
eBay — Shares dropped 8.3% even after eBay reported fourth-quarter earnings that missed expectations. The web vendor of products posted a revenue of 77 cents per share, beneath the Refinitiv estimate of 81 cents per share.
Alibaba Group — Shares fell greater than 2% even after the Chinese language e-commerce big’s fiscal third-quarter earnings beat analyst estimates. Earnings per American depository receipt share got here in at 46.82 billion yuan, versus the 34.02 billion yuan anticipated. Income was 247.76 billion Chinese language yuan ($35.92 billion), topping estimates of 245.18 billion Chinese language yuan.
Moderna — The pharmaceutical inventory fell greater than 8% after Moderna reported weaker-than-expected earnings for the fourth quarter, citing rising prices from surplus manufacturing capability and decrease demand for its Covid-19 vaccine.
— CNBC’s Michelle Fox, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting