Wall Street indexes are wavering on renewed anxiety around rising Covid-19 infections and related restrictions in Europe. Here’s what we’re watching in Friday’s trading:
- Nike has launched a virtual play place on Roblox ’s online game platform that lets players dress their digital avatars in Nike sneakers, hats or backpacks.
- Intuit , the company behind TurboTax, QuickBooks and Mint, raised its financial forecast for fiscal 2022.
- U.S.-traded shares of U.K. luxury fashion company Farfetch plunged after it missed sales expectations for its third quarter.
- Workday swung to a profit in the third quarter of its fiscal year 2022 as subscription revenue growth accelerated in the period.
- Williams-Sonoma delivered an earnings beat after Thursday’s close. Friday morning Telsey Advisory Group lifted its price target for the stock.
- Chip-equipment supplier Applied Materials ended its fiscal year with disappointing profit and revenue.
- Luxury electric-vehicle maker Lucid slipped premarket after having closed down 10% on Thursday. But fellow EV startup Rivian was shaking off the recent gloom.
- Cybersecurity company Palo Alto Networks topped Wall Street expectations for the quarter and raised its billings and revenue forecasts for the year.
- Foot Locker reported third-quarter results above analyst views.
Chart of the Day
- The semiconductor supply crunch has been bad news for car buyers and many manufacturers, but great for investors in chip makers whose share prices have surged.
Write to James Willhite at [email protected]
