Tickerlog
Friday 21st of January 2022 10:09:10 AM

Hot Stocks: Guidance weighs on PPG, ECL and GCTAF; LLNW rallies on earnings

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  • With U.S. equities falling yet again, worries around COVID, inflation and supply chain bottlenecks sparked concerns in Friday's intraday trading. These factors led to lower guidance at PPG (NYSE:PPG), Ecolab (NYSE:ECL) and Siemens Gamesa (OTCPK:GCTAF). All three stocks retreated during midday action.
  • Not every stock was dragged down in the general retreat. Limelight (NASDAQ:LLNW) posted a double-digit percentage gain following the announcement of a surprise Q4 profit.
Decliners
  • Ecolab (ECL) dropped about 7% after the company slashed its Q4 earnings guidance in the face of supply chain disruptions. The company also cited COVID-related impacts on its business.
  • Reduced guidance also weighed on shares of wind turbine giant Siemens Gamesa (OTCPK:GCTAF). The company warned of higher costs and supply chain disruptions, which have led to project delays. The company also noted volatile market conditions for its updated forecast.
  • PPG (PPG) was another notable decliner in midday action. The company reported quarterly earnings and sales that exceeded expectations. However, PPG gave a cautious forecast, saying that COVID disruptions would impact its production in the near term.
  • At the same time, the firm reported that it would raise prices in response to higher costs. Hurt by the forecast, PPG retreated nearly 2% in intraday action.
Gainers
  • Bucking the overall trend in the market, Limelight (LLNW) got a lift from its latest earnings report. The content delivery network service unveiled a Q4 profit, reversing a loss seen in the same period last year. Analysts had expected the red ink to deepen.
  • Bolstered by the quarterly results, LLNW rallied almost 13% in midday action.
  • Want more of today's biggest winners and losers? Turn to SA's On The Move section.

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