A sign for Meta, the new name of the company formerly known as Facebook, is seen at its headquarters in Menlo Park, California on October 28, 2021.
Carlos Barria | Reuters
Check out the companies that made the headlines on Friday afternoon.
Meta platforms. Shares in parent company Facebook fell about 3% after Russia restricted access to Instagram and filed criminal charges against Meta after the company changed its hate speech rules to allow violent threats against Russia and its military for its incursion into Ukraine. In addition, regulators in the EU and the UK launched an antitrust investigation into Meta over its 2018 “Jedi Blue” ad deal.
Rivian Automotive – Rivian’s share price fell 6.3% at noon after the electric car maker reported lower fourth-quarter earnings and forecast modest vehicle production for 2022. Rivian forecasts deliveries of only 25,000 vehicles in fiscal 2022.
DocuSign – Shares in the e-signature company fell 22% after DocuSign released disappointing earnings forecasts for the full year. The company expects 2022 revenue to be between $2.47 billion and $2.48 billion, well below StreetAccount’s forecast of $2.61 billion.
Blink Charging, an electric vehicle charging company, lost 10% after reporting a larger-than-expected loss for the quarter. However, Blink said the momentum remains strong as the business community and government agencies push the benefits of a strong EV infrastructure.
Oracle – Oracle shares rose 1% at noon after the software company released its latest quarterly results. Oracle’s revenue of $10.51 billion was in line with Refinitiv’s consensus forecast. The company earned an adjusted $1.13 per share, but it was unclear if this was comparable to the $1.18 per share forecast.
Pearson – Education publisher shares jumped 16% after the company rejected an $8.5 billion offer from Apollo Global Management. Pearson said the confirmation of private equity made two undesirable approaches with proposals that undervalued the company.
Deere – Mechanical engineering stock is up about 2% after Wells Fargo announced a share price target of $455, suggesting upside potential of about 20%. The firm stated that Deere differentiates itself from its competitors by leveraging advances in technology.
DiDi Global – Shares of the taxi company fell 37.4% after Bloomberg reported that it was suspending plans to list its shares in Hong Kong. According to the report, Didi has failed to comply with Chinese regulators regarding how it handles sensitive user data.
Zumiez – The apparel maker’s shares tumbled about 7% after the company reported quarterly results that fell short of analysts’ expectations. Zumiez also released a forecast for the current quarter, which also did not take into account estimates.
– Reporting by Samantha Subin and Sarah Min of CNBC.