Lucid Water
Source: Lucid Motors
Check out the companies making headlines in cloud trading.
Nvidia – Chip stocks rose 12% after Nvidia beat expectations on both the top and bottom lines in the latest quarter. Wall Street analysts applauded the results, saying AI opportunities will drive growth for the chip maker.
Lucid Group – The electric vehicle maker fell more than 18% after posting fourth-quarter earnings that fell short of analysts’ expectations. Bank of America also downgraded the stock to a neutral from a buy rating, citing short-term demand concerns.
Bumble – Shares rose more than 4% after Bumble beat fourth-quarter revenue expectations. However, the company posted a quarterly loss of 85 cents per share, a figure that included disruption costs from closing operations in Russia and Belarus.
The Mosaic Company – Shares of the fertilizer mineral company increased by 1.4% on Friday after Mosaic’s quarterly revenue came in higher than expected. The company generated $4.48 billion in revenue, while analysts surveyed by StreetAccount expected $4.17 billion in revenue. Mosaic’s adjusted earnings per share didn’t miss expectations, but the company said it expects “an expected recovery in fertilizer” this year.
Lordstown Motors – Shares of the electric vehicle maker slid 14% after the company announced a production and delivery pause to address quality issues with certain Endurance components. Lordstown will also voluntarily recall 19 Endurance pickups to address “certain electrical connection issues that could result in loss of propulsion while driving.”
Domino’s Pizza, Papa John’s International – Pizza chains fell 11% and 7.6%, after they reported mixed results. Domino’s revenue and same-store sales missed analysts’ estimates, while adjusted earnings per share. Papa John’s beat earnings and revenue, but missed estimates on sales of North American company-owned restaurants.
Nicholas – Shares fell more than 7% after Nikola reported quarterly revenue that disappointed analysts’ expectations. The electric truck maker said it delivered just 20 battery-electric trucks to dealers despite producing 133 trucks in the fourth quarter.
eBay – Shares fell 8.3% even after eBay reported fourth-quarter earnings that missed expectations. The online goods seller posted profit of 77 cents per share, below Refinitiv’s estimate of 81 cents per share.
Alibaba Group – Shares fell more than 2% even after the Chinese e-commerce giant’s fiscal third-quarter earnings beat analysts’ estimates. Earnings per share of American depository receipts came in at 46.82 billion yuan, versus 34.02 billion yuan expected. Revenue was 247.76 billion Chinese yuan ($35.92 billion), the highest of 245.18 billion Chinese yuan.
Modern – Pharmaceutical stocks fell more than 8% after Moderna reported weaker-than-expected earnings for the fourth quarter, citing rising costs from excess production capacity and lower demand for its Covid-19 vaccine.
– CNBC’s Michelle Fox, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting