Finance

Amazon, Verisign, Honeywell and more

A contractor working for Amazon.com cleans a supply truck in Richmond, California, U.S., on Tuesday, Oct. 13, 2020.

David Paul Morris | Bloomberg | Getty Photographs

Take a look at the businesses making headlines in noon buying and selling.

Amazon — Shares of the e-commerce firm slumped 13% after issuing weak income steerage for the present quarter. Amazon additionally shared a $7.6 billion loss on its funding in electrical automobile maker Rivian, which misplaced greater than half of its worth within the earlier quarter.

Verisign — Shares of Verisign misplaced 13% after the Web infrastructure firm reported first quarter earnings of $1.43 per share, which was under analysts’ estimates of $1.50 per share, in line with FactSet. Following the outcomes, Baird downgraded the inventory to impartial from outperform.

Honeywell — Honeywell’s inventory worth rallied 2.6% after the aerospace merchandise firm topped analysts’ expectations. The corporate posted earnings of $1.91 per share on revenues of $8.38 billion. Compared, analysts anticipated earnings of $1.86 earnings per share on revenues of $8.29 billion, in line with Refinitiv.

Mohawk Industries — The flooring firm’s shares jumped greater than 7% following Mohawk’s quarterly outcomes. Mohawk topped income estimates of $2.85 billion, in line with FactSet, posting $3.02 billion for the quarter.

AbbVie — Shares of the biopharmaceutical firm plummeted greater than 9% after AbbVie lowered its full yr steerage. AbbVie reported earnings of $3.16 per share, surpassing FactSet consensus estimates of $3.14 earnings per share. Nevertheless, the corporate reported a large income miss with revenues of $13.54 billion, in comparison with consensus estimates of $13.66 billion from FactSet.

Constitution Communications — The telecommunications firm noticed shares fall greater than 8% after it reported adjusted EBITDA of $5.21 per share for the primary quarter, which barely missed estimates of $5.26 per share, in line with FactSet. Income of $13.20 billion additionally barely missed estimates of $13.21 billion, in line with FactSet.

Intel — Intel’s inventory worth tumbled 6.3% after the semiconductor firm issued weaker-than-expected steerage for its fiscal second quarter. The corporate reported earnings that in any other case surpassed expectations.

Colgate-Palmolive — Shares for Colgate-Palmolive dropped 5% even after the buyer merchandise big reported earnings. The corporate earned 74 cents per share, the identical as expectations from analysts polled by Refinitiv. Revenues got here in at $4.4 billion, in step with consensus expectations from Refinitiv. Colgate-Palmolive additionally stated it expects a decline in gross revenue margin for the 2022 fiscal yr.

Roku — Roku’s inventory gained greater than 5% after the corporate beat income estimates. The corporate posted income of $733.7 million, in comparison with analysts’ expectations of $718.1 million, in line with FactSet. The digital media participant producer additionally issued weak income steerage for the second quarter.

Tesla — Shares popped greater than 2% even after CEO Elon Musk offered roughly $8.4 billion of Tesla’s inventory following his bid to take Twitter non-public.

 — CNBC’s Samantha Subin contributed reporting

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