The logo of the American software company Palantir Technologies can be seen in Davos, Switzerland, January 22, 2020.
Arnd Wiegmann | Reuters
Check out the companies that make headlines during afternoon trading.
Applied Materials – Shares of the chipmaker were up more than 7% after Applied Materials beat estimates in the fourth quarter and posted positive comments for the current quarter. “We have seen a continued acceleration in demand in our semiconductor business as key macro and industry trends drive silicon consumption in a wide variety of markets and applications,” said Gary Dickerson, president and CEO in a statement. The VanEck Vectors Semiconductor ETF gained more than 2%.
Deere – Farm equipment inventory increased more than 10% after Deere far exceeded fiscal first quarter expectations. The company reported earnings per share of $ 3.87 on $ 8.05 billion in revenue. Analysts polled by Refinitiv expected $ 2.14 per share and $ 7.22 billion in revenue. Deere net sales from its equipment unit increased 23% year over year.
Roku – Roku rose 3.8% in afternoon trading after reporting quarterly earnings per share of 49 cents, compared to consensus predictions of a loss of 6 cents per share. The streaming video equipment manufacturer’s sales also surpassed forecasts, up 58% as consumers stayed at home during the pandemic.
Dropbox – Shares of Dropbox fell nearly 2.5% around noon in New York as better-than-expected earnings failed to offset disappointing expectations. Earnings were 4 cents per share higher than estimated, with a quarterly profit of 28 cents per share. Still, the company forecasts revenue for the full year to be lower than analyst estimates.
Palantir Technologies – Palantir was up nearly 13% on Friday after investor Cathie Wood, whose choices had proven lucrative over the past year, said she increased her bets on the data company. Wood’s Ark Innovation Fund bought more than 5.2 million shares on Thursday, meaning the stake makes up about 0.5% of its total weight.
Planet Fitness – Shares of the gym chain fell more than 2.3% after Planet Fitness’s fourth quarter earnings fell short of expectations. The company reported 17 cents in adjusted earnings per share, below the 23 cents per share that analysts expect, according to FactSet. Sales declined 30% year on year.
CNBC’s Pippa Stevens and Jesse Pound contributed to the reporting.
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