Check out the companies making headlines in midday trading. Alphabet — Shares sank nearly 8% after the Google parent reported fourth-quarter revenue of $96.47 billion, short of the $96.56 billion expected from analysts polled by LSEG. Alphabet also said it will invest $75 billion in 2025 as it expands its artificial-intelligence strategy, versus the $58.84 billion consensus estimate, according to FactSet. Advanced Micro Devices — The chipmaker tumbled roughly 7% after the company fell short of estimates in its data center segment. AMD posted better-than-expected revenue and profit in the fourth quarter, reporting adjusted earnings of $1.09 a share on revenue of $7.66 billion. That topped estimates of $1.08 a share in earnings on revenue of $7.53 billion, per LSEG. Uber Technologies — The ride-hailing app provider saw shares drop 7% after posting an earnings miss and giving soft guidance. Uber reported EPS of 23 cents, adjusted, for the fourth quarter, lower than the 50 cents per share analysts expected, per LSEG. For its first quarter, Uber said it expects gross bookings between $42 billion to $43.5 billion, compared with StreetAccount estimates of $43.51 billion. Apple — Shares declined 1% after Bloomberg News reported that Chinese regulators were considering starting a formal probe into Apple’s App Store fees and practices. PDD — The Chinese e-commerce platform pulled back more than 3%. Late Tuesday, the U.S. Postal Service suspended incoming packages from China and Hong Kong. The USPS later reversed course later on Wednesday and said it intended to resume receiving packages from those regions. Johnson Controls International — Shares of the conglomerate surged 12%. Fiscal first-quarter results surpassed analyst estimates on the top and bottom lines. Johnson Controls earned 64 cents per share, adjusted, while analysts polled by FactSet forecast 59 cents. Revenue of $5.43 billion also beat the expectations that called for $5.29 billion. Lumen Technologies — The telecommunications stock slipped more than 3% in midday trading. Lumen said that its 2025 adjusted earnings before interest, taxes, depreciation and amortization would range from $3.2 billion to $3.4 billion, below analysts’ call for $3.41 billion, per FactSet. Workday — The cloud applications provider advanced 5% after announcing a restructuring plan to slash its workforce by 8.5%, or roughly 1,750 positions. Chipotle Mexican Grill — Shares slipped 2% after the fast-casual Mexican chain issued soft guidance for its same-store sales growth . Chipotle said that its full-year same-store sales growth would be in the low- to mid-single digits. On the other hand, Chipotle’s adjusted earnings of 25 cents per share in its fourth quarter beat the 24 cents analysts surveyed by LSEG had estimated. Mattel — The toymaker climbed more than 14% after better-than-expected fourth-quarter results. Mattel reported 35 cents per share, excluding one-time items, on revenue of $1.65 billion. Analysts polled by LSEG forecast 20 cents per share on revenue of $1.63 billion. Match — Shares fell more than 7%. The dating platform issued weak guidance for the first quarter, calling for revenue of $820 million to $830 million, while analysts polled by LSEG sought $853 million. Match also appointed Zillow co-founder Spencer Rascoff as its new CEO. Novo Nordisk — Shares gained nearly 5% after the pharmaceutical giant issued fourth-quarter results that topped expectations . The firm reported net profit of 28.23 billion Danish kroner, above the 26.09 billion forecast from analysts polled by FactSet. Full-year net profit of 100.99 billion Danish kroner also surpassed Wall Street consensus estimates that called for 99.14 billion. Electronic Arts — Shares were more than 5% higher after the video game company reported better-than-expected quarterly results. Electronic Arts also said it was planning a $1 billion stock buyback. FMC Corp – The chemical manufacturer pulled back 33% after guidance for the first quarter came in below Wall Street estimates. FMC forecast adjusted earnings in the range of 5 cents to 15 cents per share, while analysts polled by FactSet were expecting 77 cents. The revenue outlook was also bleak, with the company calling for $750 million to $800 million, while analysts sought $957.4 million. Toyota Motor — U.S. listed shares of Toyota jumped about 4% after the auto manufacturer announced plans to form a new company in China that focuses on producing electric vehicles. The company beat revenue estimates from analysts polled by LSEG but third-quarter operating profit trailed analyst estimates . Harley-Davidson — The motorcycle stock slipped 1.3% after fourth-quarter results showed a wider-than-expected loss. Harley-Davidson reported a loss of 93 cents per share on $420.5 million of revenue. Analysts surveyed by LSEG were looking for a loss of 66 cents per share on $464.9 million of revenue. Super Micro Computer , Nvidia – The IT company announced the full production availability of its end-to-end artificial intelligence data center – and it’s powered by Nvidia’s Blackwell platform. Shares of Super Micro jumped nearly 9%, while Nvidia popped more than 4%. — CNBC’s Yun Li, Pia Singh, Michelle Fox, Jesse Pound, Lisa Kailai Han and Hakyung Kim contributed reporting
People shop for produce at a Walmart in Rosemead, California, on April 11, 2025.
Frederic J. Brown | Afp | Getty Images
A growing number of Americans are using buy now, pay later loans to buy groceries, and more people are paying those bills late, according to new Lending Tree data released Friday.
The figures are the latest indicator that some consumers are cracking under the pressure of an uncertain economy and are having trouble affording essentials such as groceries as they contend with persistent inflation, high interest rates and concerns around tariffs.
In a survey conducted April 2-3 of 2,000 U.S. consumers ages 18 to 79, around half reported having used buy now, pay later services. Of those consumers, 25% of respondents said they were using BNPL loans to buy groceries, up from 14% in 2024 and 21% in 2023, the firm said.
Meanwhile, 41% of respondents said they made a late payment on a BNPL loan in the past year, up from 34% in the year prior, the survey found.
Lending Tree’s chief consumer finance analyst, Matt Schulz, said that of those respondents who said they paid a BNPL bill late, most said it was by no more than a week or so.
“A lot of people are struggling and looking for ways to extend their budget,” Schulz said. “Inflation is still a problem. Interest rates are still really high. There’s a lot of uncertainty around tariffs and other economic issues, and it’s all going to add up to a lot of people looking for ways to extend their budget however they can.”
“For an awful lot of people, that’s going to mean leaning on buy now, pay later loans, for better or for worse,” he said.
He stopped short of calling the results a recession indicator but said conditions are expected to decline further before they get better.
“I do think it’s going to get worse, at least in the short term,” said Schulz. “I don’t know that there’s a whole lot of reason to expect these numbers to get better in the near term.”
The loans, which allow consumers to split up purchases into several smaller payments, are a popular alternative to credit cards because they often don’t charge interest. But consumers can see high fees if they pay late, and they can run into problems if they stack up multiple loans. In Lending Tree’s survey, 60% of BNPL users said they’ve had multiple loans at once, with nearly a fourth saying they have held three or more at once.
“It’s just really important for people to be cautious when they use these things, because even though they can be a really good interest-free tool to help you kind of make it from one paycheck to the next, there’s also a lot of risk in mismanaging it,” said Schulz. “So people should tread lightly.”
Lending Tree’s findings come after Billboard revealed that about 60% of general admission Coachella attendees funded their concert tickets with buy now, pay later loans, sparking a debate on the state of the economy and how consumers are using debt to keep up their lifestyles. A recent announcement from DoorDash that it would begin accepting BNPL financing from Klarna for food deliveries led to widespread mockery and jokes that Americans were struggling so much that they were now being forced to finance cheeseburgers and burritos.
Over the last few years, consumers have held up relatively well, even in the face of persistent inflation and high interest rates, because the job market was strong and wage growth had kept up with inflation — at least for some workers.
Earlier this year, however, large companies including Walmart and Delta Airlines began warning that the dynamic had begun to shift and they were seeing cracks in demand, which was leading to worse-than-expected sales forecasts.
Check out the companies making headlines in midday trading: T-Mobile — Shares pulled back 11% after the company’s wireless subscribers for the first quarter missed Wall Street estimates. T-Mobile reported 495,000 postpaid phone additions in the first-quarter, while analysts polled by StreetAccount were looking for 504,000. Alphabet — The Google parent company gained about 2% on the heels of better-than-expected first-quarter results . Alphabet reported $2.81 per share on revenue of $90.23 billion, while analysts polled by LSEG forecast $2.01 in earnings per share and $89.12 billion in revenue. Skechers — Shares fell 4.8% after the footwear maker posted weaker-than-expected revenue for the first quarter and withdrew its 2025 guidance due to ” macroeconomic uncertainty stemming from global trade policies .” The company’s earnings for the quarter came in above analysts’ estimates, however. Gilead Sciences — The biopharmaceutical stock fell 2.5% after first-quarter revenue came in at $6.67 billion, missing the consensus forecast of $6.81 billion from analysts polled by LSEG. However, the company earned $1.81 per share, excluding items, in the quarter, beating Wall Street’s estimate of $1.79 a share. Saia — Shares of the shipping company fell 31% after first-quarter results missed estimates and showed a slowdown in March. Saia reported $1.86 in earnings per share on $787.6 million in revenue. Analysts surveyed by FactSet were expecting $2.76 in earnings per share on $812.8 million in revenue. BMO Capital Markets downgraded the stock to market perform from outperform and said the issues were “company specific.” Intel — The chipmaker declined 7% after Intel’s current quarter missed investors’ expectations. Intel forecast revenue in the June quarter of $11.8 billion at the midpoint, while consensus forecasts called for $12.82 billion, per LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce both its operational and capital expenses. Boston Beer — Shares of the Samuel Adams brewer were more than 1% higher after better-than-expected first-quarter results. Boston Beer notched earnings per share of $2.16 on revenue of $453.9 million, while analysts polled by FactSet were looking for 56 cents per share on revenue of $435.6 million. Boston Beer cautioned that tariffs could hurt full-year earnings. Tesla — The Elon Musk-helmed electric vehicle company surged 10%. Shares have advanced more than 17% this week as the broader market tries to recover from a steep sell-off for much of April. — CNBC’s Jesse Pound, Alex Harring and Sean Conlon contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
Check out the companies making headlines before the bell: Meta Platforms — The Facebook and Instagram parent jumped about 3%. Meta cut staff in its Reality Labs division, CNBC reported. Alphabet — The Google and YouTube owner climbed more than 4% after first-quarter results topped Wall Street expectations. Alphabet earned $2.81 per share on $90.23 billion in revenue for the quarter, while analysts surveyed by LSEG had estimated $2.01 per share and $89.12 billion in revenue. T-Mobile — Shares of the telecommunications company fell 5.5% after it reported fewer first-quarter wireless phone subscribers than the Street expected, seeing 495,000 postpaid phone additions versus analysts’ call for 504,000, according to StreetAccount. Earnings and revenue for the first quarter topped Street estimates. Intel — The chipmaker fell 7.2% after the outlook for the current quarter disappointed investors. Intel guided for revenue in the June quarter to come in at $11.8 billion at the midpoint, less than consensus calls for $12.82 billion, according to LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce its operational and capital expenses. Gilead Sciences — The biopharmaceutical stock slid 3.9% after posting first-quarter revenue of $6.67 billion, missing the consensus estimate of $6.81 billion from analysts polled by LSEG. Gilead earned $1.81 per share, excluding items, in the quarter, while Wall Street penciled in $1.79. Skechers — The footwear maker slumped 6% after reporting lower-than-expected first-quarter revenue and withdrew its 2025 forward financial forecasts on account of ” macroeconomic uncertainty stemming from global trade policies .” Skechers’ bottom-line results came in above analysts’ forecasts. Charles Schwab — The financial services provider advanced 1.4% after Goldman Sachs upgraded shares to buy from neutral, calling Schwab a resilient growth stock amid an uncertain backdrop. Hasbro — The toy company rose about 1% one day after soaring 15%. Citigroup raised its investment opinion to buy from neutral, saying Hasbro’s stronger-than-expected Wizards of the Coast business outweighs any uncertainty stemming from tariff policy, according to analyst James Hardiman. Boston Beer — Shares of the Samuel Adams brewer rose nearly 3% after first-quarter results beat expectations. Boston Beer generated $2.16 in earnings per share on $453.9 million of revenue, while analysts surveyed by FactSet looked for 56 cents per share on $435.6 million in revenue. Boston Beer warned in its outlook that tariffs could hurt full-year earnings. — CNBC’s Alex Harring and Jesse Pound contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!