GWW - Hot Stocks: AMZN pops on earnings; ROKU HLLY drop; GWW sets 52-week high

Strong earnings results from some of the world's highest-profile companies allowed stocks to finish higher again on Friday. The S&P 500 climbed 1.4%, its eighth gain in the past 11 sessions.

Amazon ( NASDAQ: AMZN ) was among the big-name players that drove Friday's gains. Bolstered by strength in its AWS unit, the online retailer posted an earnings-inspired double-digit percentage rally.

W.W. Grainger ( GWW ) also surged in the wake of its quarterly report, climbing to a fresh 52-week high.

Not all the earnings news generated good spirits among investors. Roku ( ROKU ) and Holley ( HLLY ) both tumbled to 52-week lows following the release of their quarterly updates.

Standout Gainer

Amazon ( AMZN ) scored a 10% advance on Friday as investors concentrated on strength in its AWS cloud unit rather than messy results elsewhere in the company.

Overall, the online retailer posted a loss for the quarter of $2B, or $0.20 per share. Analysts were looking for a profit. However, results included a $3.9B loss related to the company's stake in Rivian Automotive ( RIVN ).

The company's revenue rose 7% to $121B, beating analysts' consensus by $2B. Sales in the AWS segment surged 33% from last year.

AMZN finished the session at $134.95, an advance of $12.67 on the day. The stock has been building strength since hitting an intraday 52-week low of $101.26 in mid-June. This marked its highest close since late April.

Standout Loser

A weak earnings report prompted a decline in Roku ( ROKU ), which plunged 23% as TV advertising spending showed a significant slowdown.

The company reported revenue of $764M, an increase of nearly 19% from last year. Despite this growth, the top-line figure came in $40M short of analysts' consensus .

Looking ahead, the company projected Q3 revenue of $700M, well below the $903M that analysts had predicted.

Based on the results, ROKU plummeted by $19.65 to close at $65.52. Shares also touched an intraday 52-week low of $62. Friday's slide added to weakness shown earlier in the year, with the stock now down 72% since the end of 2021.

Notable New High

W.W. Grainger ( GWW ) surged to a 52-week high after topping expectations with its latest earnings report. The stock jumped 8% on the news.

The industrial and construction products distributor beat estimates with its Q2 profit, thanks to nearly 20% revenue growth. The top-line figure of $3.84B exceeded analysts' consensus by $150M.

In addition to the robust quarter, the firm raised its 2022 revenue forecast to $15B-$15.2B. Analysts were looking for a figure of $14.75B.

GWW finished the session at $543.53, a rise of $41.65 on the day. During the session, the stock also reached an intraday 52-week high of $544.82.

Friday's advance added to gains posted since mid-June. Shares have climbed nearly 20% in the past month.

Notable New Low

Shares of Holley ( HLLY ) endured substantial selling pressure following the release of disappointing preliminary results and reduced guidance. The stock fell 37% to set a new 52-week low.

Hurt by supply chain tangles, the auto parts maker said its Q2 sales dropped 7% to about $179M, well below the $205M that analysts were projecting. The firm also slashed its Q3 forecast .

"Second quarter sales fell short of expectations, driven by microchip shortages and other supply chain challenges that prevented us from building and shipping many of our most popular products," CEO Tom Tomlinson said.

HLLY dropped $4.65 to finish at $7.99. This reversed gains recorded over the previous two and a half months. With the slide, HLLY touched an intraday 52-week low of $7.97.

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