Stocks moving after earnings: Kraft Heinz, Devon Energy, Analog Devices

Yahoo Finance Live’s Julie Hyman discusses how stocks are moving in intraday trading.

Video Transcript


Well, still in the heart of earnings season here as we’ve been talking about. We’ve already hit a lot of tickers today. But guess what? There are more to talk about that are trending on “Yahoo Finance” as well. Let’s start with Kraft Heinz here. The stock is up only about 3/4 of 1% here. If you look at the year to date chart for KHC, it’s down just a little more than 1%.

And if you look inside the results, you’ll see why kind of investors can’t quite make up their mind. The fourth quarter looked relatively strong. Earnings coming in ahead of estimates. Net sales rose by 10%. Volume was down. That’s what we’ve been seeing for a lot of the consumer products companies, that they’re making up for lower volume by raising prices. Volume was down, but it wasn’t down as much as analysts had predicted.

On the flip side, the company’s forecast for the full year for earnings per share is a little bit lower than analysts had predicted. Revenues above. So all of this equals not a heck of a lot of change in the shares right now. We’re also watching Devon Energy, which is seeing a big slump today.

It is down 11% today, down about 8% for the year to date, and it has to do with the company spending this year and what it’s going to get for that spending. So capital expenditures this year, $3.7 billion. That is more than analysts expected. On the flip side, that’s going to get it about, it says, 653,000 barrels of oil on average a day. That’s lower than expected. So spending more to get less than expected, and that’s as we’re seeing cost to produce oil go higher for some of these companies. So that’s why those shares are down.

And then finally, a bright spot in the chip space today. That is Analog Devices. Those shares are up about 5% today. That adds to their gains for the year. This company giving a good forecast for the current quarter, and Analog Devices is one of these companies whose chips go into a lot of different stuff. It’s analog chips. And so, hence, we are seeing these shares rides today. First quarter revenue is going to be up about $3.2 billion. That’s better than the $3.03 billion that analysts had been estimating. So a few more earnings and movers for you here this morning.