Intel, Roku, Sweetgreen, Ford & more

Try the businesses making headlines in noon buying and selling. 

Intel — The chip inventory jumped greater than 6% after the corporate posted better-than-expected second-quarter earnings outcomes. The most recent quarter marked a return to profitability after two consecutive shedding intervals. Intel’s forecast for the third quarter additionally got here in above analyst expectations.

Roku – Shares popped greater than 25% after the corporate reported a smaller-than-expected loss for the latest quarter. The streaming inventory posted a lack of 76 cents a share, forward of the $1.26-loss per share anticipated by analysts, in accordance with Refinitiv. Revenues got here in at $847 million versus the estimated $775 million.

New York Group Bancorp – The regional financial institution inventory added 4.8% after JPMorgan upgraded shares to chubby from impartial, calling it a “huge market share taker” within the close to and medium time period.

Biogen — The biotech firm rose practically 1% after the corporate mentioned it is buying Reata Prescribed drugs for $172.50 per share, in a money deal valued at about $7.3 billion. Shares of Reata popped greater than 50% following the information.

Procter & Gamble — The buyer large’s inventory climbed practically 5%, boosting the blue-chip Dow Jones Industrial Common. The rally got here after the corporate reported quarterly earnings and income that beat analysts’ expectations. P&G did launch a dark outlook for its fiscal 2024 gross sales that fell wanting Wall Avenue’s estimates, nonetheless.

Exxon Mobil — The oil large noticed its shares dip 1.6% after the corporate posted combined second-quarter outcomes. The corporate reported earnings of $1.94 a share, excluding gadgets, decrease than the $2.01 estimate by analysts, per Refinitiv. Revenues got here in at $82.91 billion, above the anticipated $80.19 billion.

Enphase Power – The photo voltaic inventory dropped practically 10% to hit a 52-week low after the corporate posted a income miss. Enphase mentioned its second-quarter income reached $711 million, falling wanting analyst estimates of $722 million, in accordance with Refinitiv. Deutsche Financial institution, Wells Fargo and Roth MKM downgraded the inventory following the disappointing report.

Boston Beer — The alcohol beverage firm noticed its shares soar greater than 18% following a stronger-than-expected quarterly report. Boston Beer posted earnings of $4.72 per share, properly above an estimate of $3.38 per share from FactSet. Its income additionally got here in above expectations.

Sweetgreen – Shares of the salad chain slid 10% after the corporate posted weak gross sales that missed Wall Avenue expectations within the second quarter and a lack of internet lack of $27.3 million, or 24 cents per share. Sweetgreen additionally reported narrowing losses and raised its forecast for restaurant-level margins. It is aiming to show a revenue for the primary time by 2024.

Ford Motors – The automaker noticed shares fall greater than 3% after it mentioned adoption of electrical automobiles goes extra slowly than anticipated and that it expects to lose $4.5 billion on the EV enterprise this 12 months, widening losses from roughly $3 billion a 12 months earlier. In any other case, Ford posted robust quarterly earnings that beat Wall Avenue expectations and raised its full-year steering.

T. Rowe Worth – Shares of the asset supervisor jumped greater than 10% after T. Rowe Worth reported stronger-than-expected earnings for the second quarter. The corporate earned an adjusted $2.20 per share on $1.61 billion of income. Analysts surveyed by Refinitiv had been anticipating $1.73 per share on $1.6 billion of income. CEO Rob Sharps mentioned in a press launch that T. Rowe Worth has “recognized substantial value financial savings” that may sluggish expense development going ahead.

– CNBC’s Jesse Pound, Tanaya Macheel and Samantha Subin contributed reporting.