Amazon, Intel And Others Make The Biggest Moves Midday

‍First Republic

The regional bank's share price dropped by 50% after sources told Trade Algo that the Federal Deposit Insurance Corporation is most likely to take First Republic into receivership. Sources said, however, that a rescue deal may still happen before the regulator steps in.

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Snap

In the recent quarter, Snap's revenues fell 6% from a year ago, as the company's parent company, the original Snapchat parent company, missed revenue expectations by about 18%.

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Amazon

Investors are concerned about Amazon's cloud business, which caused the company's stock to drop 3.8%. As part of its earnings report on Thursday, the company beat both adjusted earnings per share and revenue estimates by a large margin.

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Intel

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In spite of Intel reporting its largest quarterly loss on record as well as a 133% decrease in revenue year over year, Intel shares rose more than 4% in after-hours trading. Even so, Intel was able to report a loss per share that was smaller than expected and revenue that was better than expected. Despite the worst being priced into the shares of the chipmaker, Benchmark upgraded the company.

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Pinterest

As a result of Pinterest's disappointing second-quarter guidance, its stock price fell by more than 17%. In spite of the company's strong top-line and bottom-line results, the share price of the image-sharing company rose in response to the move.

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First Solar

In the wake of disappointing first quarter results from the solar energy company, the stock of the company plunged 14%. There was a 40 cent profit per share for First Solar on revenues of $548 million, with earnings per share of 40 cents. Refinitiv data indicates that analysts had expected $1.02 in earnings per share based on revenues of $718 million, according to Refinitiv's estimates.

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Chevron

Stocks in the energy sector rose 0.8% after the company beat revenue and earnings expectations for its first quarter. In the face of a decline in oil prices, it is hard to see how the company could maintain its strong results without the help of its refining business.

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Exxon Mobil

Oil giant Exxon Mobil posted a record profits for the first quarter, despite falling oil prices. The stock jumped about 2% before the bell.  Despite the fact that analysts went into the report expecting $2.59 in adjusted earnings per share, Exxon Mobil was able to beat that expectation. In addition, the company generated $86.56 billion in revenue, which was higher than the $85.41 billion that was expected. 

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Colgate-Palmolive

Announcing a quarter of revenue and earnings that exceeded expectations, the consumer giant's stock rallied 4%. Its pet nutrition products are also seeing solid demand and consistent price increases, leading Colgate to raise its annual organic sales forecast.

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T-Mobile

A disappointing first-quarter revenue result resulted in a 3.1% decline for the telecommunications stock, according to Refinitiv. Revenue at T-Mobile US was $19.63 billion, compared to an estimate of $19.82 billion.

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Bloomin’ Brands

According to a report by the Outback parent company, the company's earnings came in ahead of analysts' expectations by 2.9%. The company posted earnings per share of 98 cents, which was higher than the 89 cents that were expected by analysts surveyed by Refinitiv. Despite the fact that it was expected to generate $1.22 billion in revenue, revenue came in at $1.24 billion.

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Alteryx

As a result of FactSet's findings, shares of the data analytics firm tumbled about 17% after it announced a revenue figure for the first quarter of 2017 that was just below analysts' forecasts, as well as projected a bigger loss for the second quarter than anyone expected. Aside from the headcount cut, Alteryx also announced that it would reduce its workforce by 11%.

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Newell Brands

A wider-than-expected loss by the consumer goods company did not stop shares from rising 2%. Wall Street's expectations were exceeded by revenue.

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