Jack Dorsey creator, co-founder and chairman of Twitter and co-founder and CEO of Square speaks on stage at the Bitcoin 2021 Convention, a cryptocurrency conference held at the Mana Convention Center in Wynwood, Miami on June 4, 2021. Florida.
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Check out the companies that are making the headlines in midday trading.
Coca-Cola – Coca-Cola shares rose 1.9% after outperforming the beverage giant’s quarterly results in both sales and bottom line. Coca-Cola reported adjusted earnings of 65 cents per share, 7 cents above Refinitiv’s consensus estimate. The company has also raised its forecast for the year.
McDonald’s – McDonald’s shares rose 2.7% after the fast food chain beat earnings estimates. The company reported adjusted quarterly earnings of $ 2.76 per share, compared to an expected $ 2.46 per share. Higher prices and new menu items helped increase the company’s sales.
Boeing – Boeing’s shares were down 1.5% after an unexpectedly high quarterly loss. The aircraft manufacturer posted an adjusted quarterly loss of 60 cents per share compared to an expected 20 cents per share. Sales also fell short of expectations.
General Motors – GM shares fell 5.4% despite a profit hit. The automaker posted earnings of $ 1.52 per share on sales of $ 26.78 billion, while Wall Street expected earnings of 96 cents per share on sales of $ 26.51 billion.
Harley-Davidson – The motorcycle maker’s shares rose 3.6% after it released its quarterly results. The company reported adjusted diluted earnings per share of $ 1.18 per share, compared to an analyst estimate of 77 cents per share, according to FactSet. Harley also exceeded sales forecasts.
Spotify – Spotify shares rose 8.3% after the audio streaming service posted an unexpectedly large quarterly loss, but revenue and user growth beat estimates. The company said its podcast segment had increased sales.
Microsoft – The tech giant’s shares rose 4.2% after a stronger-than-expected quarterly report. According to Refinitiv, Microsoft reported adjusted earnings of $ 2.27 per share for the first fiscal quarter, beating analysts’ estimates of $ 2.07 per share. The company’s total revenue rose almost 22% year-over-year, marking its fastest growth since 2018.
Alphabet – Alphabet shares rose 5% after Google parent company hit profits. According to Refinitiv, Alphabet reported earnings of $ 27.99 per share, compared to an expected $ 23.48. Management said Apple’s privacy features had only a “modest impact” on YouTube’s revenue.
Twitter – Twitter stocks fell 10.8% despite the company’s third quarter report meeting analyst expectations for revenue and user growth. Twitter also said that Apple’s privacy changes had less of an impact than expected. However, the company said spending such as investing in staff growth will bleed through 2022.
Robinhood – The brokerage firm’s shares fell 10.4% after Robinhood reported revenue and net profit on third quarter results and a grim outlook for the current quarter. Revenue was slowed by a slowdown in crypto trading and Robinhood warned that headwinds in trading will persist until the end of the year. The stock is now trading below its IPO price of $ 38 per share.
Visa – The payments giant saw its shares fall 6.9% after releasing a conservative sales outlook as part of its quarterly earnings report. Visa raised $ 1.62 per share, beating expectations by 8 cents. It also exceeded sales expectations thanks to an increase in online and travel spending.
Enphase Energy – The solar company’s shares rose 24.7% after Enphase reported record sales in the third quarter. The microinverter maker had sales of $ 351.5 million for the period, up 11% from the previous quarter. Enphase also issued positive forecasts for the current quarter.
Six Flags – Six Flags shares fell 8.4% after the company’s quarterly results beat expectations. Six Flags reported earnings of $ 1.80 per share on sales of $ 638 million, while analysts surveyed by Refinitiv reported earnings of $ 1.55 per share on sales of $ 587 million expected.
F5 Networks – F5 Networks’ shares rose 5.9% on a solid earnings report. The company reported adjusted earnings of $ 3.01 per share on sales of $ 682 million. Analysts polled by StreetAccount expected earnings of $ 2.75 on sales of $ 672 million.
Fiserv – Fiserv stock fell 10% after the company beat expectations for earnings per share by just 2 cents and sales came in as expected, according to StreetAccount.
– CNBC’s Tanaya Macheel, Yun Li, Maggie Fitzgerald and Pippa Stevens contributed to the coverage