Check out the companies making headlines midday Friday:
Ford — Ford jumped 9.73% after the car manufacturer reported better than expected first-quarter earnings on Thursday. Ford reported earnings of 44 cents per share, 17 cents higher than expected, and revenues of $37.24 billion, $160 million higher than expected. High demand for pickup trucks and SUVs in North America compensated losses in China and South America.
Intel — Intel dropped the most in 11 years, 10%, after the company provided a lower-than-expected revenue forecast for 2019. The chipmaker said it expects full year revenues of $69 billion, yet analysts had estimated revenues of $71.05 billion. Intel reported earnings of 89 cents per share, 2 cents higher than expected and revenues of $16.06 billion, $40 million higher than expected.
Walmart & Target — Walmart and Target shares tumbled 2% and 6% respectively in midday trading after Amazon announced it will be implementing one-day shipping a regular offering for all Amazon Prime members, upping the ante for retailers across the United States to meet consumer demand.
Mattel — Strong sales of Barbie dolls and toys based on “Jurassic World” and “Toy Story” led Mattel to a narrower-than-expected-loss during the first quarter, lifting shares by 6.56% on Friday afternoon. The company’s net sales fell 2.7 percent to $689.2 million, but topped the $645 million as analysts has estimated, according to Refinitiv.
Cleveland-Cliffs — Shares of the iron ore miner jumped for a second day after reporting a narrower-than-expected-first-quarter loss. Shares were up nearly 3% Friday after Credit Suisse upgraded the stock to an outperform rating from neutral.
American Airlines — American Airlines shares rose after the company reported first-quarter earnings that surpassed analysts’ expectations. Quarterly profit hit 52 cents per share, beating the consensus estimate of 51 cents per share, which represents earnings of 1.96%.
—CNBC’s
Isabel Soisson
,
Nadine El-Bawab
and
Matt Lavietes
contributed to this report.