Etsy displayed on the Nasdaq billboard in Times Square New York.
Paul Zimmerman | Nasdaq | Getty Images
Find out which companies are making headlines in the midday business.
Etsy – Shares of the online shopping platform rose more than 13% in midday trading after reporting better-than-expected fourth-quarter results. Revenues also exceeded estimates. Etsy also got an upgrade to neutral from UBS following its strong showing.
Foot Locker – Shares of the shoe retailer fell 33% after the company reported quarterly results and forecast 2022 revenue to fall as it expects it won’t sell as many products from Nike. Foot Locker’s outlook for full-year earnings and same-store sales was weaker than expected.
Dish Network – Shares of the telecommunications company jumped more than 10% on Friday after JPMorgan upgraded the stock from overweight to underweight. The investment firm said the stock looked more attractive after a recent decline and had several potential positive catalysts ahead.
Bloc – Shares of the payments giant soared more than 23% after the company reported earnings and revenue that beat analysts’ expectations for its latest quarter. It also issued an upbeat outlook for the current quarter and the full year, citing the growing success of its consumer business, Cash App.
LendingTree – Shares of the online lending market rose more than 11% after the company released quarterly results that included a lower-than-expected loss and higher revenue. It also noted that the performance of its consumer segment was strong during the quarter.
Bio-Rad Laboratories – The maker of life science research products saw its shares rise 7% after outlining its growth strategy and plans to accelerate financial targets at its Investor Day. For 2025, the company said it plans to further improve its financial profile by targeting a compound annual growth rate of around 9% for its base revenue between 2021 and 2025, and an adjusted EBITDA margin of 28 % in 2025.
Dell Technologies – The IT company lost nearly 6% after announcing it expects its order book to explode in the first quarter, citing supply chain issues limiting its ability to meet strong demand of orders.
Carvana – The online used car seller saw its shares rise 14% after announcing it would buy KAR Auction Services’ U.S. vehicle auction business for $2.2 billion in order to reinforce its physical presence. KAR shares gained about 40%.
Farfetch – Shares of Farfetch soared more than 38% after the luxury fashion retailer reported profitability on an adjusted basis for 2021, following a recent plunge in its share price. The company’s quarterly results showed an adjusted quarterly loss of 3 cents per share, in line with estimates, and revenue below estimates.
Beyond Meat – The maker of plant-based meat products saw its shares tumble more than 9% a day after reporting a bigger-than-expected loss and revenue that fell below last quarter estimates . The company also issued a weaker-than-expected forecast, citing an expected temporary halt in U.S. retail growth.
– CNBC’s Maggie Fitzgerald and Jesse Pound contributed reporting
Foot Locker, Etsy, Block, Carvana, Dish Network and more
Source link Foot Locker, Etsy, Block, Carvana, Dish Network and more