BZFD - Hot Stocks: BZFD surges again; LHX rises on earnings; KLAC drops on guidance; GT slumps

Another round of earnings announcements stirred trading in Friday's midday action. L3Harris Technologies ( LHX ) rallied on a strong revenue figure, while a cautious view of the 2023 semiconductor market prompted selling in KLA ( KLAC ).

In other news, BuzzFeed ( NASDAQ: BZFD ) once again represented one of the day's standout gainers. Shares extended a rally that allowed the stock to more than double the previous day.

Meanwhile, Goodyear Tire ( GT ) pushed lower on weak guidance and a cost-cutting plan.

Gainers

BuzzFeed ( BZFD ) surged again in midday trading, building on a massive advance seen the previous day. Shares climbed another 80% after more than doubling during the previous session. The stock is now up more than 300% over the past week and up almost 450% over the past month.

On Wednesday, shares of the online media firm jumped almost 120% following a series of reports pointing to the possibility of a broader footprint for its content. One report indicated that the company had entered into a partnership with Meta Platforms. Another reported that the BZFD would expand its use of AI to help build some content.

Elsewhere, L3Harris Technologies ( LHX ) showed midday strength as well, rising almost 9% following the release of its quarterly report . The firm's Q4 earnings figure failed to meet analysts' projections. However, revenue climbed 5% to $4.58B, exceeding the consensus estimate by $220M.

Looking ahead, the company predicted 2023 revenue of $17.4B-$17.8B. Analysts were looking for a figure of $17.65B.

Decliners

KLA Corp. ( KLAC ) topped expectations with its Q4 results . However, shares of the semiconductor equipment maker dropped more than 5% in intraday action, as investors expressed concern about the firm's forecast.

Looking ahead, the company acknowledged that "industry capacity adjustments" would impact 2023. The firm's CEO commented on a post-earnings conference call that its customers in the semiconductor sector will need to adjust their spending "to address decreased demand in some segments."

Goodyear Tire ( GT ) lost ground in intraday action as well, dragged down by a weak Q4 forecast and the announcement of a cost-reduction plan . The tire maker announced that it would cut about 5% of its workforce, or around 500 positions.

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