These are the companies making headlines in the middle of Friday trading:
Intel, AMD – Intel fell 7 percent after the chipmaker said it expects revenue to be nearly flat compared to last year. But other chipmakers held up with AMD shares rising more than 2 percent. Many analysts believe Intel’s issues were company specific and noted AMD was gaining market share in PCs and other areas.
Ford Motor – The automaker’s shares rose 3 percent after CEO Jim Hackett sent an email to employees that last year’s “mediocre” results were unacceptable. Hackett said Ford aims to nearly double its annual operating profit, although he did not specify when that would happen.
Vale S.A. – A dam owned by the Brazilian mining company burst on Friday, leading to evacuations. Local emergency personnel in Brazil told AFP that the dam’s collapse caused “several deaths” due to a mudslide. Vale stock slid 12 percent on Friday.
Delta Air Lines, American Airlines, United Continental – Airline stocks initially fell following reports of delays at airports across the northeastern U.S. on Friday. The government shutdown is causing a rising shortage of air traffic controllers, which delayed flights to and from New York’s LaGuardia, Newark Liberty International and Philadelphia International Airport. Shares of American and United were each slightly positive on the day, while Delta remained slightly lower.
Starbucks – The coffee giant’s shares gained as the company reported strong sales and earnings growth for its first quarter report. Starbucks saw revenue climb 9 percent year-over-year. Starbucks shares rose 3 percent.
ResMed – The medical equipment company stock dropped 18 percent after reporting shaky second quarter results, with revenue coming in below Wall Street estimates. ResMed announced a temporary suspension of share buybacks, saying the company needs more cash on hand for acquisitions. Goldman Sachs and J.P. Morgan each downgraded ResMed shares to ratings of neutral and underweight, respectively.
- ^ Intel (www.cnbc.com)
- ^ AMD (www.cnbc.com)
- ^ Many analysts believe (www.cnbc.com)
- ^ Western Digital (www.cnbc.com)
- ^ Ford Motor (www.cnbc.com)
- ^ an email to employees (www.cnbc.com)
- ^ Vale S.A. (www.cnbc.com)
- ^ Vale stock slid 12 percent on Friday (www.cnbc.com)
- ^ Delta Air Lines (www.cnbc.com)
- ^ American Airlines (www.cnbc.com)
- ^ United Continental (www.cnbc.com)
- ^ Starbucks (www.cnbc.com)
- ^ its first quarter report. (www.cnbc.com)
- ^ ResMed (www.cnbc.com)
- ^ Ford is using bionic suits to help employees work safer (www.cnbc.com)