Here are some companies that are making headlines in intraday trading. Semiconductor stocks — Chipmakers struggled on Friday as technology stocks sold off and concerns about the strength of artificial intelligence trading resurfaced. The VanEck Semiconductor ETF (SMH) fell 7%, Astera Labs stock fell 12%, Qualcomm stock fell 11%, and Nvidia stock fell 4%. The Role of AI Infrastructure — The iShares AI Innovation and Tech Active ETF (BAI) fell more than 7%, Micron Technology stock fell more than 5%, Lumentum Holdings fell more than 10%, and Arista Networks fell nearly 8%. This is because stocks related to building artificial intelligence continue to lose air. CNBC’s David Faber also said Friday that Marvell Technologies’ proposed acquisition of Lumentum doesn’t come at a huge premium. Regeneron Pharmaceuticals — This biotech company’s stock rose 11%. Third-quarter results beat expectations, with Regeneron earning $20.07 excluding items and revenue of $5.12 billion. FactSet consensus had called for $4.56 billion, or $16.42 per share. For the full year, Regeneron is calling for non-GAAP gross margin as a percentage of net product sales to be approximately 86%, up from its previous guidance of 84% to 85%. SanDisk — Shares fell 12% even though the data storage device maker reported higher profits and sales in its first-quarter financial report. Adjusted earnings per share were $49.51, compared to analyst expectations of $46.22 per LSEG. SanDisk also announced an 8-for-1 forward stock split. Twilio — Shares fell about 17% after the consumer engagement platform’s current quarter outlook reflected slower organic revenue growth. Twilio expects fourth-quarter revenue to be in the range of $1.595 billion to $1.65 billion, with year-over-year organic revenue growth in the range of 11% to 12%. However, third-quarter organic revenue increased 16% year-over-year. Roblox — The gaming platform’s stock fell 20% after the company reported disappointing fourth-quarter guidance. Estimates for bookings for the same period range from $1.89 billion to $2 billion, while analysts expect it to be $2 billion. Mondelez International — Shares of the company behind Sour Patch Kids and Oreo cookies rose more than 3%. Mondelez reported third-quarter adjusted earnings of 78 cents per share, beating the FactSet consensus estimate of 71 cents per share. FedEx Freight — Shares rose 15% after the freight forwarding services business reported a strong outlook for the fourth quarter. FedEx Freight expects quarterly revenue to be between $2.3 billion and $2.37 billion, compared with $2.07 billion in the year-ago period. Adjusted operating profit is expected to be between $185 million and $205 million, up from $162 million in the same period last year. Intel — Shares fell 29% after the chipmaker issued a weaker-than-expected outlook for the fourth quarter. The company expects adjusted earnings per share to be 25 cents on revenue in the range of $15 billion to $16 billion. That was below LSEG’s expectations for earnings of 43 cents a share and revenue of $17.1 billion. Rivian Automotive — Shares soared more than 8% after the electric vehicle maker reported better-than-expected third-quarter results. Rivian had an adjusted loss of 48 cents per share on revenue of $2.16 billion. Analysts surveyed by LSEG had expected a loss of 62 cents per share on revenue of $1.99 billion. The company has also strengthened its guidance regarding delivery. Amazon — Shares fell 1% after the e-commerce giant reported third-quarter results that fell short of analysts’ expectations. The company also recorded negative free cash flow of $42.4 billion in the trailing twelve months. Reddit — The company announced it would require users to log in to access its social media platforms and released a lower-than-expected revenue outlook for the fourth quarter. The stock price fell 29%. Cryptocurrency Stocks — Shares of Coinbase and Robinhood fell 12% and 8%, respectively, following the largest crypto hack in history, which Binance reported Thursday with an estimated $6.3 billion impact. The company also estimates that approximately $3 billion in crypto assets have been frozen. Chevron — Shares rose 1% after Chevron reported a nearly 200% increase in third-quarter net income to $9.9 billion. The company also posted better-than-expected revenue in the same period. ExxonMobil — Shares rose more than 1% after the oil giant’s profits doubled to $15.4 billion from $7.5 billion a year earlier. AstraZeneca — The biopharmaceutical company’s stock soared more than 7% after its third-quarter profit beat expectations. The company reported core earnings per share of $2.79 and revenue of $16.21 billion. Analysts had expected sales of $16.05 billion and earnings per share of $2.60. —CNBC’s Michelle Fox, Scott Schnipper, Nick Wells and Darla Mercado contributed reporting.
