A contractor working for Amazon.com cleans a delivery truck in Richmond, California, USA, on Tuesday, Oct. 13, 2020.
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Take a look at the companies that make the headlines for midday trading.
Amazon — Shares of the e-commerce company fell 14% after issuing weak earnings guidance for the current quarter. Amazon also shared a loss of $7.6 billion on its investment in electric vehicle maker Rivian, which lost more than half its value in the previous quarter.
verisign — Verisign shares lost 14.2% after the internet infrastructure company reported first-quarter earnings of $1.43 a share, below analyst estimates of $1.50 a share, according to FactSet. Following the results, Baird downgraded the stock to neutral from outperformance.
Honeywell — Honeywell’s share price rose 1.8% after the aerospace products company beat analysts’ expectations. The company posted earnings of $1.91 per share on revenue of $8.38 billion. By comparison, analysts had expected earnings of $1.86 per share on revenue of $8.29 billion, according to Refinitiv.
Mohawk Industries — Shares of the flooring company rose 7.8% after Mohawk’s quarterly results. Mohawk beat revenue estimates of $2.85 billion, according to FactSet, posting $3.02 billion for the quarter.
AbbVie — Shares of the biopharmaceutical company plunged 6% after AbbVie lowered its guidance for the full year. AbbVie reported earnings of $3.16 per share, beating FactSet consensus estimates of $3.14 earnings per share. However, the company reported a large revenue loss with revenue of $13.54 billion, compared to consensus estimates of $13.66 billion from FactSet.
communications letter — Shares of the telecom company fell 7.1% after reporting adjusted EBITDA of $5.21 per share for the first quarter, which slightly beat estimates of $5.26 per share, according to FactSet. Revenue of $13.2 billion also fell slightly short of estimates of $13.21 billion, according to FactSet.
Intel — Intel stock price fell 6.9% after the semiconductor company issued weaker guidance than expected for your second fiscal quarter. The company reported earnings that otherwise beat expectations.
Colgate-Palmolive — Shares of Colgate-Palmolive fell 5.1% even after the consumer products giant reported earnings. The company earned 74 cents a share, the same as the expectations of analysts surveyed by Refinitiv. Revenue came in at $4.4 billion, in line with Refinitiv consensus expectations. Colgate-Palmolive also said it expects a decline in gross profit margin for fiscal 2022.
roku — Roku shares rose 1.3% after the company beat revenue estimates. The company posted revenue of $733.7 million, compared to analyst expectations of $718.1 million, according to FactSet. The digital media player maker also issued weak earnings guidance for the second quarter.
— CNBC’s Samantha Subin contributed reporting