Chris Ratcliffe | Bloomberg | Getty Images
Check out the companies that are making the headlines in midday trading.
Amazon – The e-commerce giant was up 1% in midday trading after posting a record profit in the first quarter. The Seattle-based company announced that profits more than tripled to $ 8.1 billion and sales grew 44% to $ 108 billion from January to March. The results exceeded expectations and the company earned $ 15.79 per share versus the consensus estimate of $ 9.54.
Twitter – The social media company’s shares fell 13% in midday trading after user growth results and revenue forecast for the second quarter fell short of analysts’ forecasts. Twitter’s EPS and revenue exceeded expectations.
Gilead – The biotech company’s stocks were down 1.3% after missing the upper and lower end of quarterly results. Gilead Sciences reported earnings per share of $ 2.08 on sales of $ 6.42 billion. Analysts expect earnings per share of $ 2.09 per share on revenue of $ 6.75 billion.
Exxon Mobil – The oil giant’s stocks were down 1.9% as the company returned to profitability, recording four-quarters of the losses in a row. Exxon beat estimates for revenue and earnings for the period, making an adjusted 65 cents per share on revenue of $ 59.15 billion. Analysts polled by Refinitiv expected the company to make 65 cents per share on sales of $ 54.6 billion.
Chevron – Chevron stocks fell about 3% after the company reported first quarter results. The oil giant earned 90 cents a share on an adjusted basis, which was in line with Wall Street estimates. Sales exceeded expectations, although results were still below pre-pandemic levels.
Newell Brands – Consumer staples stock rose roughly 0.8% after posting stronger-than-expected results in the first quarter. The Rubbermaid parent company made an adjusted 30 cents per share on sales of $ 2.29 billion for the period. Analysts polled by Refinitiv expected 13 cents per share and sales of $ 2.07 billion.
Colgate-Palmolive – The household goods manufacturer’s shares rose 1.1% after both earnings and sales were slightly above Street forecasts for the last quarter. The company posted 6% year-over-year revenue growth, despite difficult comparisons, as consumers stocked up during the pandemic.
Skyworks Solutions – Skyworks fell nearly 8% in midday trading, even after beating earnings estimates by 2 cents per share at $ 2.37 per share. Investors appeared unhappy with the company after it issued an outlook that was below what some had hoped.
– – CNBC’s Jesse Pound, Pippa Stevens and Maggie Fitzgerald contributed to the coverage.
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