Lucid Air
Courtesy: Lucid Motors
Check out the companies making headlines in midday trading.
Nvidia — The chip stock spiked 12% after Nvidia topped expectations on the top and bottom lines in its most recent quarter. Wall Street analysts approved of the results, saying AI opportunities will drive growth for the chipmaker.
Lucid Group — The electric vehicle maker tumbled more than 18% after posting fourth-quarter revenue that fell short of analysts’ expectations. Bank of America also downgraded the stock to neutral from a buy rating, citing near-term demand concerns.
Bumble — Shares added more than 4% after Bumble beat fourth-quarter revenue expectations. However, the company posted a quarterly loss of 85 cents per share, a figure that included an impairment charge from shutting down operations in Russia and Belarus.
Mosaic Company — Shares of the fertilizer mineral company added 1.4% on Thursday after Mosaic’s quarterly revenue came in higher than expected. The company generated $4.48 billion in revenue, while analysts surveyed by StreetAccount were expecting $4.17 billion revenue. Mosaic’s adjusted earnings per share did miss expectations, but the company said it expected a “recovery in demand for fertilizers” this year.
Lordstown Motors — Shares of the electric vehicle maker slid 14% after the company announced a production and delivery pause to address quality issues with certain Endurance components. Lordstown will also voluntarily recall 19 Endurance pickups to address a “specific electrical connection issue that could result in a loss of propulsion while driving.”
Domino’s Pizza, Papa John’s International — The pizza chains fell 11% and 7.6%, respectively, after they reported mixed earnings. Domino’s revenue and same-store sales missed analyst estimates, while its adjusted earnings per share beat. Papa John’s beat on both earnings and revenue, but missed estimates on North American company-owned restaurant sales.
Nikola — Shares fell more than 7%…
Read the full article here
