Midday Stock Movers: AMD, Ford, PayPal, and More

AMD Climbs on Strong Earnings Report

Shares of Advanced Micro Devices (AMD) are rising on Thursday after the company reported better-than-expected earnings for the fourth quarter. AMD reported earnings per share of $0.73, beating analysts' estimates of $0.67. The company also reported revenue of $5.6 billion, which was also ahead of expectations. AMD's strong earnings report is a sign that the company is benefiting from the growing demand for semiconductors. AMD's stock is currently up 5% in premarket trading.

Ford Rises on Positive Analyst Report

Shares of Ford Motor Company (F) are also rising on Thursday after the company received a positive analyst report from Goldman Sachs. Goldman Sachs upgraded Ford's stock to "buy" from "neutral" and raised its price target on the stock to $16 from $13. Goldman Sachs cited Ford's strong product lineup and its progress on its restructuring plan as reasons for the upgrade. Ford's stock is currently up 3% in premarket trading.

PayPal Declines on Earnings Miss

Shares of PayPal Holdings (PYPL) are falling on Thursday after the company reported weaker-than-expected earnings for the fourth quarter. PayPal reported earnings per share of $1.11, which was below analysts' estimates of $1.15. The company also reported revenue of $6.85 billion, which was also below expectations. PayPal's weak earnings report is a sign that the company is facing challenges from competition and the economic slowdown. PayPal's stock is currently down 5% in premarket trading.

Other Notable Stock Movers

Other notable stock movers on Thursday include:

• Apple (AAPL): Up 1% in premarket trading
• Microsoft (MSFT): Up 1% in premarket trading
• Amazon (AMZN): Up 1% in premarket trading
• Tesla (TSLA): Down 1% in premarket trading
• Meta Platforms (META): Down 1% in premarket trading