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Check out the companies making headlines in afternoon trading. Meta Platform – Facebook and Instagram parent rose 20% after reporting a three-fold increase in fourth-quarter profit and announcing its first dividend to be paid in late March. Revenue increased 25% from a year earlier, the fastest growth rate for any period since mid-2021. Apple – Shares of the iPhone maker fell 0.3% after Apple provided financial guidance for the current quarter, indicating weak iPhone sales. The company reported earnings per share of $2.18 in its fiscal first quarter ending in December, better than the $2.10 expected by analysts, according to LSEG, formerly known as Refinitiv, despite a decline in sales in China. Amazon – Shares of the leading e-commerce platform rose more than 7% after a fourth-quarter earnings and revenue report. Amazon reported earnings of $169.96 per share on revenue of $1 billion, according to LSEG. Analysts had expected earnings of 80 cents per share on revenue of $166.21 billion. Skechers – The stock fell 7.6% a day after the sneaker maker posted mixed fourth-quarter results and issued light guidance for the full year. Skechers forecasts revenue of $8.6 billion to $8.8 billion and earnings of $3.65 to $3.85 per share in 2024. Analysts polled by LSEG had forecast revenue of $8.9 billion and earnings of $4.18 per share this year. Bristol Myers Squibb – The pharmaceutical stock rose 1% after fourth-quarter earnings and revenue from the maker of Opdivo anti-cancer treatment beat analysts’ estimates. Adjusted earnings per share came in at $1.70, better than the $1.53 expected by analysts surveyed by LSEG. Revenue reached $11.48 billion, compared to the consensus estimate of $11.19 billion. Deckers Outdoors – Shares of the Ugg and Teva footwear brands rose 16% in the afternoon after the company’s fiscal third-quarter results beat Wall Street estimates and the announcement of a new CEO. In response, several Wall Street analysts raised their price targets on the stock. Deckers had earnings of $15.11 per share, beating analysts’ estimates by $3.63, according to LSEG, while revenue for the quarter came in at $1.56 billion, versus estimates of $1.45 billion. Cigna – The healthcare company saw its shares rise 6% after reporting stronger-than-expected financial results for the fourth quarter and giving positive revenue guidance for the year. Cigna reported earnings of $6.79 per share on revenue of $51.15 billion, beating estimates of $6.54 per share on revenue of $48.91 billion, according to FactSet. Full-year revenue guidance was $235 billion, compared to estimates of $228.65 billion. Mattel – Shares of the Barbie toymaker rose 3% on news that activist investor Barrington Capital has built an undisclosed stake in Mattel and is soliciting a sale of its American Girl and Fisher-Price units. Clorox – The bleach maker jumped 4% on Friday, a day after surpassing Wall Street expectations for its fiscal second quarter. Clorox earned $2.16 a share, excluding items, on revenue of $1.99 billion. Analysts surveyed by LSEG had expected $1.10 a share on revenue of $1.80 billion. Chevron – Shares jumped nearly 3% after the nation’s second-largest oil company raised its dividend by 8%. Chevron posted mixed fourth-quarter results, with adjusted earnings per share of $3.45, above the $3.21 expected by analysts surveyed by LSEG. ExxonMobil, America’s biggest oil company, rose 1% after fourth-quarter earnings per share topped analysts’ estimates. Revenue at both companies lagged Wall Street estimates. Intel – The chip maker fell 2.3% after The Wall Street Journal reported that Intel is delaying construction of its $20 billion chip factory in Ohio due to market challenges. Microchip Technology – The semiconductor stock fell more than 2% after the company issued a weak outlook for its fiscal fourth quarter ending March 31. The company also posted revenue in line with analysts’ expectations. — CNBC’s Alex Haring, Yun Li, Tanya Machel, Michelle Fox and Tanya Machel contributed reporting.
