Palantir, Utilized Supplies, Deere & extra

The logo of the US software company Palantir Technologies can be seen on January 22, 2020 in Davos.

Arnd Wiegmann | Reuters

Check out the companies that are making headlines in midday trading.

Applied Materials – The chipmaker’s stocks rose more than 7% after Applied Materials beat estimates in the fourth quarter and made positive comments for the current quarter. “We have seen continued acceleration in demand in our semiconductor business as key macro and industry trends drive increasing silicon consumption in a variety of markets and applications,” said Gary Dickerson, president and CEO, in a statement. The VanEck Vectors Semiconductor ETF gained more than 2%.

Deere – Farm equipment inventory increased more than 10% after Deere slightly exceeded expectations for the first quarter of the fiscal year. The company reported earnings per share of $ 3.87 on sales of $ 8.05 billion. Analysts surveyed by Refinitiv expected $ 2.14 per share and revenue of $ 7.22 billion. Deere’s net sales from its equipment unit increased 23% year over year.

Roku – Roku rose 3.8% in midday trading after reporting quarterly earnings per share of 49 cents, compared to consensus forecasts of 6 cents per share. The streaming video device manufacturer’s sales also beat projections, rising 58% as consumers stayed at home during the pandemic.

Dropbox – Dropbox shares fell nearly 2.5% around noon in New York as better-than-expected gains failed to offset overwhelming predictions. At 4 cents per share, earnings were above estimates, with quarterly earnings of 28 cents per share. Still, the company forecast full-year sales that are below analysts’ estimates.

Palantir Technologies – Palantir rose nearly 13% on Friday after investor Cathie Wood, whose pickings had proven lucrative last year, increased her bets on the data company. The Wood’s Ark Innovation Fund bought more than 5.2 million shares on Thursday, which means the stake is about 0.5% of their total weight.

Planet Fitness – The fitness chain’s stocks were down more than 2.3% after Planet Fitness earnings fell below expectations in the fourth quarter. The company reported adjusted earnings per share of 17 cents, below the 23 cents per share expected by analysts, according to FactSet. Sales fell by 30% compared to the previous year.

– CNBC’s Pippa Stevens and Jesse Pound contributed to the coverage.

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