Check out the companies making headlines in midday trading.
Above – Shares of Uber rose 11% to hit a new 52-week high after the ride-hailing company announced an initial $7 billion share repurchase program. Uber also said it expects gross bookings to grow in the mid- to high-teens over the next three years.
Lyft – Shares of the ride-hailing platform rose 31% after the company reported adjusted fourth-quarter profit of 18 cents per share, better than the LSEG consensus estimate of 8 cents per share. Lyft reported revenue of $1.22 billion, which was in line with analysts’ expectations.
IQVIA Holdings – The health technology company saw its shares rise 10% after reporting fourth-quarter profit of $2.84 per share, excluding items, compared with analysts’ expectations of $2.82 per share, according to FactSet . Quarterly revenue came in at $3.87 billion, slightly above estimates of $3.8 billion.
Charles River Laboratories – The drugmaker rose 9% after fourth-quarter adjusted earnings of $2.46 per share beat analysts’ estimates of $2.40 per share, according to FactSet. Charles River posted revenue of $1.01 billion, compared to analysts’ expectations of $991.3 million. The high end of the company’s full-year earnings forecast, $11.40, also came in above estimates of $10.83 per share.
DaVita – The healthcare company rose 7% after posting increases in sales and profits. On Tuesday, DaVita reported earnings of $1.87 per share, excluding items, on revenue of $3.15 billion. Analysts polled by FactSet estimated earnings of $1.63 per share on revenue of $3.01 billion.
Robinhood Markets – Shares of the trading platform rose 9% after the company posted a surprise rise in profit and revenue. According to LSEG, Robinhood posted a profit of 3 cents per share, while analysts expected a loss of 1 cent per share. Revenue came in at $471 million, beating analysts’ expectations of $457 million.
Zillow – Shares rose more than 6% after the real estate market posted adjusted profit of 20 cents per share on revenue of $474 million. Zillow beat analyst estimates of 12 cents per share on revenue of $452 million, according to LSEG.
Crypto stocks – Stocks whose performance is tied to the price of Bitcoin rose sharply after the cryptocurrency rose to a more than two-year high and regained its $1 trillion market cap. Trading platform Coinbase gained about 13% and Bitcoin Proxy Microstrategy 10% added. miners Iris energy skyrocketed by almost 15% and CleanSpark rose by 9%. Marathon Digital And Riot Platforms added more than 10% each.
Top Golf Callaway — Shares rose 6% in midday trading after the sporting goods maker reported a narrower-than-expected fourth-quarter adjusted loss of 30 cents per share, compared with a loss of 33 cents per share expected by analysts, according to LSEG. Revenue of $897 million beat analyst estimates of $866 million.
Smart technologies – Shares fell 8% after the cloud platform provider missed analyst expectations for fourth-quarter revenue. Akamai reported $995 million, below the $998 million forecast from analysts surveyed by LSEG. Elsewhere, the company earned $1.69 per share, excluding items, beating analysts’ expectations of $1.60 per share.
MGM Resorts International — Shares fell 8% despite the company’s better-than-expected fourth-quarter performance. The company reported an increase in profits and sales in the fourth quarter. Although the company’s China and Macau segments significantly exceeded expectations, the U.S. regional casino segment suffered from the impact of a strike in Detroit and labor costs.
Kraft Heinz — Grocery inventory fell more than 6% after fourth-quarter sales fell short of expectations. According to LSEG, Kraft Heinz reported revenue of $6.86 billion, but analysts forecast $6.99 billion. The company’s adjusted earnings per share of 78 cents were one cent above analyst estimates.
Airbnb – Shares fell about 3% even after the vacation property rental platform reported a rise in fourth-quarter revenue. Airbnb reported a loss of 55 cents per share, and it was not immediately clear how that matched analysts’ estimates of a profit of 62 cents per share and LSEG. Airbnb also warned of some pressure on booked overnight stays in the first quarter due to difficult comparisons.
Hasbro – The toy maker rose nearly 3%, recovering from its decline during Tuesday’s trading session. The stock fell after Hasbro’s fourth-quarter profit and revenue fell short of analysts’ estimates. The company also announced weaker-than-expected guidance for its full-year revenue.
—CNBC’s Hakyung Kim, Alex Harring, Jesse Pound, Pia Singh and Michelle Fox contributed reporting.
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2024-02-14 17:58:20
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