Goodyear Tire, Skechers, Mattel & more

Finance


Luke Sharrett | Bloomberg | Getty Images

A mechanic stacks used tires outside the service bay of a Goodyear Tire & Rubber Co. auto garage in Shelbyville, Kentucky.

Check out the companies making headlines midday Friday:

Skechers — The shoemaker’s stock jumped 18 percent after the company gave strong profit guidance for the quarter ahead. Skechers reported 2018 was “a year of record sales,” with the fourth quarter breaking above $1 billion in sales for the first time.

Goodyear Tire — Shares of the tire manufacturer fell nearly 10 percent and hit a new 52-week low Friday after missing Wall Street’s expectations for the fourth quarter. The company cited currency headwinds and lower volume for the miss.

Mattel — Shares of the toy company rose more than 19 percent on Friday following fourth quarter earnings that beat analyst estimates. The toy maker posted a profit of 4 cents per share, surprising analysts who expected a 16-cent loss. Mattel’s revenue also successfully beat analysts expectations by $120 million.

Inogen — Inogen’s stock slid nearly 7 percent after short-seller Muddy Waters Research said it has taken a short position in the maker of oxygen therapy. “We believe management has created egregiously false narrative regarding their total addressable market and growth,” said the short seller in a tweet.

Qorvo — Shares of the semiconductor company fell more than 4 percent Friday after it guided fourth-quarter profit of $1.05, well below consensus estimates of $1.33. “Qorvo’s March quarterly guidance reflects weakness in the broader smartphone market, partially offset by content gains with the leading Korea-based smartphone manufacturer and double-digit, year-over-year growth in IDP,” Chief Financial Officer Mark Murphy said Thursday.

Hasbro — The toy company’s fourth-quarter profit fell short estimates by a wide margin Friday morning. Investors were partially pacified after the company outlined a slate of new toys for 2019. Shares of the toy maker were down 4.3 percent Friday after falling as much as 10 percent before the opening bell.

Electronic Arts — The video game publisher jumped more than 11 percent in mid-day trading Friday, a sharp rebound after disappointing earnings earlier in the week. Electronic Arts said its newly released game “Apex Legends” topped 10 million players in less than a week.

Motorola Solutions — Shares of the telecommunications company jumped 12 percent on Friday after reporting quarterly earnings that Wall Street’s expectations for the fourth consecutive quarter. Motorola’s revenue also surpassed analyst expectations.

Coty — Shares of the beauty company shot up 28 percent after Coty beat second-quarter earnings expectations by 2 cents a share. Coty’s rally comes after the stock has lost more than 55 percent in the last 12 months as the cosmetics company tries to turn around declining revenue and sales.

— CNBC’s Kate Rooney, Michael Sheetz, Matt Lavietes and Nadine El-Bawab contributed to this reports.



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