Tesla, Netflix, Intel and more

Reed Hastings, CEO of Netflix

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Here are the stocks making remarkable moves on Thursday, January 27th.

Tesla – The automaker’s shares fell more than 8% despite Tesla’s striking fourth- and bottom-line estimates for the fourth quarter. The company warned that supply chain problems could limit production in 2022, announcing that it would not debut any new models this year, disappointing some Wall Street analysts.

Netflix – The streaming giant’s shares rose more than 7% after Pershing Square’s Bill Ackman on Wednesday night revealed he bought more than 3.1 million shares, making him a top-20 shareholder. Ackman said he began buying the fall on Friday after Netflix suffered a steep sell-off due to slower subscriber growth.

Intel – Shares in the chip stock fell 7% despite Intel reporting better-than-expected fourth-quarter earnings and providing optimistic guidance. Intel’s largest business, its Client Computing Group, fell 7% year-on-year to $ 10.1 billion, though it still beat analysts’ average estimate of $ 9.6 billion, according to FactSet.

ServiceNow – ServiceNow shares rose more than 8% after the company’s fourth quarter results. The cloud software company earned $ 1.46 per share excluding items of $ 1.61 billion in revenue during the period. Analysts expected the company to earn $ 1.43 per share on $ 1.60 billion in revenue, according to estimates compiled by Refinitiv. Piper Sandler upgraded the stock to an overweight rating following the report, citing “strong fundamentals.”

Corning – The inventory increased 3.2% after Goldman Sachs upgraded Corning to buy from neutral. Shares also rose 11% on Wednesday after a strong earnings report.

McCormick – Shares in the food business rose 6% after hitting the top and bottom line of its quarterly results. McCormick earned 84 cents per share, topping analysts’ estimates by 4 cents. The company earned $ 1.73 billion in revenue, which is higher than expected $ 1.71 billion.

Teradyne – The shares of the automation company rose 27% after Teradyne issued guidance for the first quarter, which was well below Wall Street’s expectations for earnings and revenue. The company warned of declining demand in one of its key end markets for 2022. However, Teradyne beat estimates at the top and bottom line for 2022, according to FactSet’s StreetAccount.

Lam Research – Lam shares fell about 7.5% despite the semiconductor company reporting strong quarterly earnings. It also reported revenue for the quarter, which missed estimates and issued a weaker-than-expected quarterly forecast, citing continued supply chain problems.

Seagate Technology – The computing company saw its shares rise more than 11% after raising its long-term profit margin target in its quarterly report.

Packaging Corp. of America – Shares in the containerboard company rose nearly 10% after a stronger-than-expected fourth quarter. The company reported $ 2.04 billion in revenue, above the $ 1.94 billion analysts had expected, according to FactSets StreetAccount. Packaging Corp.’s first-quarter earnings expectations also exceeded expectations.

Ball Corp. – The packaging inventory increased by 8.7% after the company beat expectations on the top and bottom line for the fourth quarter, according to estimates from FactSets StreetAccount. The company said demand “continues to exceed supply” for its products.

Planet Labs – Shares in the firm Earth-imaging platform rose more than 3% after investment firm Needham began covering Planet Labs with acquisitions. Needham said it sees an accelerating revenue growth for the company.

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