Palantir, Applied Materials, Deere and more

Find out which companies are making the midday headlines.

Applied Materials – Shares of the chipmaker jumped more than 7% after Applied Materials beat estimates in the fourth quarter and posted optimistic comments for the current quarter. “We have seen continued acceleration in demand in our semiconductor business as key macroeconomic and industrial trends fuel growing silicon consumption in a wide range of markets and applications,” said Gary Dickerson, president and CEO, in a statement. The VanEck Vectors Semiconductor ETF gained more than 2%.

Deere – The farm machinery fleet jumped more than 10% after Deere easily beat expectations for its first fiscal quarter. The company reported earnings per share of $ 3.87 on $ 8.05 billion in revenue. Analysts polled by Refinitiv expected $ 2.14 per share and $ 7.22 billion in revenue. Deere’s net sales from its equipment unit increased 23% year over year.

Roku – Roku was up 3.8% at noon after reporting quarterly earnings per share of 49 cents, compared to consensus expectations of a loss of 6 cents per share. The streaming video device maker sales figures also beat expectations with a 58% increase as consumers stayed at home during the pandemic.

Dropbox – Shares of Dropbox fell nearly 2.5% around noon in New York City as better-than-expected earnings failed to make up for disappointing forecasts. Profit came in 4 cents per share ahead of estimates, with quarterly earnings of 28 cents per share. Still, the company is forecasting annual revenues lower than analysts’ estimates.

Palantir Technologies – Palantir rallied nearly 13% on Friday after investor Cathie Wood, whose picks have proved lucrative over the past year, said she had increased her bets on the data company. Wood’s Ark Innovation fund bought more than 5.2 million shares on Thursday, which means the stake represents about 0.5% of its total weight.

Planet Fitness – The gym chain’s shares slipped more than 2.3% after Planet Fitness fourth-quarter results fell below expectations. The company said adjusted earnings per share 17 cents, below the 23 cents per share expected by analysts, according to FactSet. Revenue has fallen 30% year over year.

– CNBC’s Pippa Stevens and Jesse Pound contributed reporting.

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