Stocks making the biggest moves midday: Amazon, Alphabet, Apple, Nordstrom, Ford and more


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Workers load packages into Amazon Rivian Electric trucks at an Amazon facility in Poway, California, November 16, 2022.
Sandy Huffaker | Reuters

Check out the companies making headlines in midday trading.

Amazondespite a revenue beat. Late Thursday, Amazon issued weaker-than-expected guidance for the current period. The company also reported a slowdown in growth within its cloud business.

Alphabetdisappointing earnings report. Alphabet’s posted earnings per share of $1.05 missed Refinitiv analyst consensus estimates of $1.18 per share. The company’s revenue of $76.05 billion also fell below the forecasted $76.53. Despite the tough earnings report, Bank of America reiterated the stock as a buy, saying that they expect results in 2023 to be more encouraging.

Applelook past the company’s difficult quarter. Apple missed profit and revenue estimates for its latest quarterly print. The company posted its largest quarterly revenue decline since 2016 as it fended off a strong dollar, China production issues and a difficult macro picture.

NordstromThe Wall Street Journal reported activist investor Ryan Cohen is building a stake and will push for changes in the board, citing people familiar with the matter.


Starbucksmissed Wall Street expectations for quarterly revenue and reported a hit in its international sales from the Covid surge in China. China is the company’s second-largest market.

Fordfourth-quarter earnings fell short of both Wall Street and its own guidance. Deutsche Bank also downgraded shares of the automaker to a sell rating, citing the fourth-quarter miss and doubt over Ford’s 2023 revenue guidance.

UpstartLoop downgraded the stock to hold from buy. The shares have gained nearly 80% year to date. The Wall Street firm said the rally is driven by a short squeeze. which may not be sustainable.


— CNBC’s Samantha Subin, Hakyung Kim, Tanaya Macheel, Carmen Reinicke and Yun Li contributed reporting

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