Check out companies that make news in noon trading.
Snap – Shares of The sprint increased by about 24% after a better-than-expected result second-quarter earnings results. The social media company reported strong reported growth of users, engagement and announcements.
Twitter – Twitter shares earned 3.4% after reporting its fastest revenue growth since 2014. The social media platform reported earnings of 20 cents per minute share, above analysts’ estimates of 7 cents per minute share, according to Refinitiv.
Intel – Stocks of the chip maker fell 6.4% after the company flagged cautionary guidance on margins in the current quarter. Intel focused on non-GAAP gross margins of 55% in the third quarter, a notable drop from 59.2% in the second quarter. Intel said the decreased margin was due to supply constraints and related costs building fries with a new processes technology.
American Express – Stocks of the payment giant was up about 2% after being beaten on the top and bottom line of it is quarterly results. American Express reported earnings of $ 2.80 per person share on revenue of 10.24 billion dollars. Wall Street expected earnings of $ 1.66 per person share on revenue of $ 9.58 billion, according to Refinitiv.
Honeywell – Stocks of the industrial conglomerate was down about 2.5% despite the company beating estimates during the second quarter. Honeywell earned $ 2.02 for share excluding items, which was ahead of the expected $ 1.94, according to Refinitiv estimates. The revenue has arrived in at $ 8.81 billion, also after you of the expected $ 8.64 billion. Honeywell also lifted up full-year guide.
Boston Beer – Boston Beer fell roughly 24% after the company cut its 2021 outlook due to expectations of light sales in his hard brands of seltzer. The company earned $ 4.75 per person share during quarter, which was short of the expected $ 6.69 per 9 share, according to the estimates of Refinitiv. Sales also disappointed expectations. Goldman Sachs downgraded the company to neutral from buy.
Skechers – Stocks of Earned Skechers over 7% after the footwear company posted revenue of 1.66 billion dollars for the most recent quarter, surpassing analysts’ projections of 1.5 billion dollars. Skechers also issued a strong third-quarter And full-year earnings and revenue orientation.
Veoneer – Veoneer’s stock has skyrocketed more 56% after the Swedish automotive technology the company said it would be bought by the Canadian auto component manufacturer Magna International for about 3.8 billion dollars. The deal will be help Magna in his efforts to improve his own driver support technology business.
TAL Education, New Oriental Education and Technology – US-listed Chinese education stocks plummeted after reports of a government repression on the sector it included bans on foreign investment. TAL Education shares fallen more by 66%, while New Oriental Education and Technology shares fell from more 58%. Educational training institutes are forbidden to breed money through stock quotes, while foreign capital cannot invest, according to one copy of the Chinese-language document seen and translated by CNBC.
– Tanaya Macheel, Yun Li, Pippa Stevens and Maggie Fitzgerald of CNBC contributed to the report
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