Apple, Robinhood, Visa, Chevron and more

on Jan30
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Logo on an Apple store is seen in Arlington, Virginia, January 27, 2022.

Joshua Roberts | Reuters

Check out the companies making headlines in midday trading.

Apple — Shares of the tech giant jumped 6.98% following a strong quarterly report that showed its largest single quarter in terms of revenue ever. Apple beat analyst estimates for sales in every product category except iPads. Sales grew more than 11% despite supply challenges and the lingering effects of the pandemic.

Robinhood — The stock trading app rose 9.6%, after being down more than 14% earlier in the session. Robinhood gave disappointing first-quarter guidance during its earnings report but also said it is investing heavily in product development.

Visa — The payments giant got a 10.6% jump in its shares after it reported an adjusted quarterly profit of $1.81 per share, which beat estimates by 11 cents. It also reported revenue that beat estimates and topped $7 billion for the first time.

VF Corp — The owner of apparel brands like North Face and Vans saw shares slide 6.5% after cutting its full-year sales forecast in its quarterly earnings report, citing delivery delays and worker shortages. The company beat analysts’ estimates on its quarterly profit and revenue.

Western Digital — Shares of the disk drive maker fell 7.3% despite the company reporting a beat on top- and bottom-line estimates for its latest quarter. It also issued a weaker-than-expected outlook and said supply chain issues prevented it from fully meeting strong demand.

ChargePoint — The EV charging stock surged 10.4% following an upgrade to overweight from JPMorgan. The analysts said in a note that the company still had a long potential growth path ahead and that lack of near-term profits should not be a major concern.

Chevron — Shares declined 3.4% after the energy giant reported weaker-than-expected quarterly earnings, though its revenue exceeded analyst estimates. The company earned $2.56 per share excluding items, while analysts had been expecting $3.12 per share.

Caterpillar — The machinery stock fell 5.1% despite a fourth-quarter report that beat estimates on the top and bottom lines. However, the company’s operating profit margin shrank, reflecting higher costs.

Synchrony — Shares fell 6.7% after the company said it sees an increase from current levels in net charge-offs and delinquencies as part of its quarterly results. The financial services firm reported earnings that were in line with Wall Street forecasts.

Mondelez — The snack maker dipped 1.5% after the company slightly missed earnings estimates, by a penny per share, in its most recent quarterly update. Mondelez said it raised prices during the quarter but that that wasn’t enough to offset increased ingredients and logistics costs.

 — CNBC’s Jesse Pound, Maggie Fitzgerald and Yun Li contributed reporting.



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