Wall Street stocks wavered after a volatile session marked by a selloff in technology stocks. Monthly jobs figures showed payrolls grew sharply in January. Here’s what we’re watching in Friday’s trading:
- Snap SNAP 58.82% posted its first quarterly profit and signaled it is adjusting to disruptions in the digital-advertising market caused by Apple AAPL -0.17% privacy policy changes.
Snap shares soared premarket.
Photo: Drew Angerer/Getty Images
- Amazon’s AMZN 13.54% profit nearly doubled as it controlled labor and supply costs better than expected and saw gains in its cloud-computing and advertising businesses.
- Shares of Facebook FB -0.28% parent Meta Platforms ticked lower in opening trading, after having plunged 26% on Thursday, wiping out about $232 billion in value and notching the biggest one-day decline for a stock in U.S. history.
- Online-pinboard company Pinterest PINS 11.18% reported its first full-year profit and more than $2 billion in annual revenue.
- Ford F -9.70% reported a strong profit for 2021 and issued an upbeat forecast for this year.
- Clorox CLX -14.47% reported an earnings drop from the year-ago quarter, as demand fell for cleaning products related to the coronavirus pandemic. Atlantic Equities cut its rating on the stock to underweight from neutral.
- Maker of financial software tools for small businesses Bill.com BILL 36.05% Holdings topped expectations for its latest quarter and gave an upbeat forecast.
- Gaming-engine company Unity Software’s U 17.42% earnings and revenue topped Wall Street expectations.
Chart of the Day
- Amazon’s fourth-quarter revenue growth was tepid, and its online stores segment reported a drop in revenue for the first time. Still, this might be a new, more-mature Amazon, with strength on the bottom line, writes Heard on the Street columnist Dan Gallagher.
Write to James Willhite at [email protected]
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