Stocks making the biggest moves midday: Netflix, Coinbase, Alphabet, SVB Financial & more – CNBC

Tech stocks on the Nasdaq.

Peter Kramer | CNBC

Check out the companies in the spotlight on the midday deal.

netflix — The streaming giant’s stock surged more than 6% after Netflix Added 7.66 million net subscribers According to StreetAccount, it surpassed the expected 4.57 million in the fourth quarter. Founder Reed Hastings has also announced that he is stepping down as CEO. According to Refinitiv, the company’s earnings of 12 cents per share fell short of his estimate of 45 cents per share, largely due to the currency’s impact on debt.

alphabet — Google’s parent company saw its stock rise 4.2% after CEO Sundar Pichai announced the company. lay off 12,000 employees The company “recruited because of economic realities that differ from those we are currently facing,” the company wrote in a memo.

coin base — After J.P. Morgan, Crypto Services Firm Gains 6.6% Repeated neutral assessment It calls the stock a potential beneficiary of the challenges other brokers/exchanges faced in the aftermath of the FTX demise and bankruptcy.

Eli Lilly — Pharmaceutical company shares fell more than 2% after the U.S. Food and Drug Administration rejected an experimental Alzheimer’s disease treatment for the company for not providing enough trial data.

SVB Financial — Shares surged 16% a day after Wells Fargo said SVB Financial looked like the “deal of the century” and the bank “remains a trusted partner in the innovation economy.” SVB Financial also reported missing earnings on Thursday, but its fourth-quarter net interest came in at $1.05 billion, beating StreetAccount’s estimate of his $1.01 billion.

ralph lauren — The stock has since risen more than 3% Barclays upgrades Ralph Lauren Investors went from the same weight to overweight, saying they were buying “best-in-class apparel brands with a proven track record of brand lift.”

PPG Industries — PPG Industries stock rose 5.2% after the company reported earnings in line with analyst expectations. The manufacturer reported adjusted earnings of $1.59, or $20.77 billion per share, according to Refinitiv. Street had expected adjusted earnings of $1.59 per share, or $20.73 billion. We also reaffirmed our profit growth for the full year.

capital one — Capital One shares rose 5.6%, recouping losses from previous trades.Thursday’s drop in stocks came after news reports announced it The company cut 1,100 people in its technical department.

PagerDuty — Software stocks have since risen more than 5% Upgrading From Equal Weight to Overweight by Morgan Stanley. The Wall Street firm said PagerDuty is ready to pivot to profitability.

concentric — Shares fell 1.7% after IT service management firm posted weaker than expected Quarterly resultsConcentrix reported earnings of $3.01 per share on earnings of $1.64 billion. An analyst surveyed by StreetAccount had expected earnings of $3.33 per share on earnings of $1.68 billion.

Ally Financial — Financial stocks surged a whopping 19% after the company posted better-than-expected quarterly results. Adjusted earnings were $1.08 a share, beating the 97 cents a share sought by analysts surveyed by FactSet. Its earnings also exceeded expectations.

american tower — Shares of American Tower fell 2.4% after reports the company may be considering a takeover offer for Spanish firm Cellnex. Following the news, Cellnex’s stock price rose more than 8% of his.

— CNBC’s Michelle Fox, Yun Li, Tanaya Macheel, Sarah Min, Jesse Pound, Carmen Reinicke and Samantha Subin contributed to the report.

Leave a Reply

Your email address will not be published. Required fields are marked *