Chevron, Tesla, Seagate Technology, United Rentals, and more

Check out which companies are making headlines in the midday trading.

Seagate technology — Shares of the data storage company rose more than 10% on the day after Seagate posted a beat-and-drop on the top and bottom of its fiscal second-quarter earnings. Seagate reported earnings of 16 cents per share on revenue of $1.89 billion. Analysts called for earnings of 10 cents per share on revenue of $1.83 billion, according to Refinitiv.

chevron Shares of the energy giant rose 4% on the day after the company announced a $75 billion buyback He said it would boost the dividend.

Tesla Shares of the electric car company rose more than 8% A day after Tesla announced quarterly results that were better than expected. the The company beat analyst expectations On the top and bottom lines, according to Refinitiv.

Albemarle Shares rose 2.6% after that Piper Sandler kicked off the coverage of the stock at overweight, describing the stock as “pure lithium on a future-proof basis.”

United Rentals Shares of the equipment rental company jumped 7% on the day after it reported its latest quarterly results. Although United Rentals missed analysts’ expectations for earnings per share, it was in line with Wall Street’s expectations for revenue, according to FactSet. The company expected 2023 revenue to be between $13.7 billion and $14.2 billion, beating analyst estimates, according to FactSet.

EVgo – The electric freight company fell 2.6% after a Downgrade by JPMorgan to neutral from overweight. The company indicated slower growth and higher capital intensity than it previously expected.

steel dynamics – Shares of the steel-producing company rose 9.5% after the company announced its earnings for the fourth quarter. The company reported adjusted earnings of $4.37 per diluted share, compared to the $3.76 expected by analysts, according to FactSet. Steel Dynamics also beat revenue expectations.

viasat – The satellite company fell 8% after downgrading William Blair to the market’s outperformance. William Blair said the company sees a more balanced risk-return ratio per share after its outperformance so far in 2023.

Mobileye – The autonomous driving technology company saw its shares rise by 2.5% after announcing profits and revenue that exceeded analyst expectations. Mobileye reported adjusted earnings of 27 cents per share on revenue of $565 million for the fourth quarter. Analysts had expected earnings of 17 cents per share on revenue of $530.2 million, according to FactSet.

peloton – Digital Tamarin added 1% after that Bank of America reiterated the stock as a buy ahead of its earnings report next week. The company said it expects modest uptick in subscription and upside numbers and is hopeful that the company will say it is close to having positive cash flow by 2024.

Las Vegas Sands Shares of the hotel and casino company jumped more than 6% despite a weaker-than-expected last quarter. Las Vegas Sands reported an adjusted loss of 19 cents per share on revenue of $1.12 billion. Analysts surveyed by Refinitiv expected a loss of 9 cents per share on $1.18 billion in revenue. However, the administration took a positive tone about the outlook in Asia, specifically Macau, for 2023 as China lifts travel restrictions.

AT&T – Telecom stock fell more than 2% on Thursday, giving up a portion of its post-earnings gains. The stock rose nearly 6.6% on Wednesday after reporting more wireless subscribers than expected for the fourth quarter.

Sherwin Williams – Shares of the paint maker fell more than 8% after announcing that fourth-quarter sales came in lower than expected. Sherwin-Williams earned an adjusted $1.89 per share last quarter, beating estimates by nearly two cents, according to Refinitiv. Revenue of $5.23 billion, however, fell short of forecasts of $5.26 billion. Guidance for sales and earnings was also softer than expected, as the company warned of limited visibility in the back half of 2023.

ibm – IBM shares fell 4.9% after the company You reported quarterly earnings Wednesday. The computing company also said it would cut 3,900 jobs, indicating potential weakness ahead. It also said it expects revenue growth at the lower end of its mid-single-digit model in 2023.

Southwest Airlines Southwest Airlines shares fell 4.7% after Company A $220 million net loss in the fourth quarterThis is partly due to the holiday debacle when it canceled 16,700 flights. This costs the company millions in revenue.

Pfizer – Pfizer shares fell 1.7 percent after that UBS lowered the rating of pharmaceutical stocks to Neutral from the Buy rating. The company said estimates remain too high for the company’s Covid segment.

Levi Strauss Levi Strauss shares gained 5.9% after the denim maker Exceeding Wall Street estimates And we shared optimistic sales guidance for the new fiscal year.

Tractor supply Shares gained more than 5% after the company reported fourth-quarter earnings and revenue before the bell that beat expectations. Earnings per share from Tractor Supply came in at $2.43 versus the analyst estimate of $2.35 per share, according to Refinitiv.

– CNBC’s Michelle Fox, Alex Haring, Jesse Pound, Carmen Renick, Samantha Sobin and Darla Mercado contributed reporting.

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