Check out the companies making headlines in midday trading. Uber Technologies — The ride-hailing giant fell more than 8% after posting mixed first-quarter results . The company’s overall revenue exceeded expectations, coming in at $10.13 billion versus analysts’ estimate of $10.11 billion, per LSEG. However, the company posted a loss of 32 cents per share. Analysts had forecasted earnings of 23 cents per share. Reddit – Shares added roughly 3% after the social media platform reported stronger-than-expected revenue and robust daily active user growth in its debut report. Revenue came in at $243 million, topping the $212.8 million expected by analysts polled by LSEG. Intel — The chipmaker fell 2.8% after releasing revised second-quarter guidance. Intel said it now expects revenue below $13 billion for the quarter after the Department of Commerce revoked export licenses for China-based Huawei. Lyft – The ride-sharing company surged 5% after the company reported faster-than-expected growth in the first quarter. Lyft reported $1.28 billion in revenue, higher than the FactSet consensus of $1.16 billion. Total bookings also topped estimates. Shopify — Shares plummeted 19% as the company’s disappointing revenue and profit guidance for the current quarter overshadowed better-than-expected results for the latest reporting period. Shopify forecast revenue growth at a high-teens percentage year over year, which is in line with the Street’s estimates, according to LSEG, but still represents a slowdown from recent quarters. Electronic Arts – The video game stock fell more than 2% after the company posted weak results for the fiscal fourth quarter. EA reported adjusted earnings of $1.37 per share and $1.67 billion of net bookings. Analysts surveyed by FactSet were expecting earnings of $1.52 per share on $1.78 billion of revenue. Guidance for the current quarter also fell below expectations. Rivian Automotive – Shares of the electric vehicle manufacturer fell roughly 2% after the company’s quarterly earnings announcement. Rivian said that it lost nearly $39,000 per vehicle delivered in the first quarter. Coupang — The South-Korea based e-commerce company shed 8%. First-quarter adjusted earnings came in-line with estimates, while revenue was slightly above analysts’ estimates, according to FactSet. Meanwhile, net income fell on Coupang’s acquisition of luxury online retailer Farfetch in January. Toast – The cloud-based restaurant management software company rallied 12% on the back of its earnings report. Toast posted first-quarter revenue of $1.08 billion, higher than analysts’ estimates of $1.04 billion, per FactSet. Arista Networks – Shares jumped 7% after the company reported better-than-expected first quarter results. Arista reported $1.99 in earnings per share on $1.57 billion of revenue. Analysts surveyed by LSEG had estimated $1.74 in earnings per share on $1.55 billion of revenue. Tripadvisor – Shares plunged 29%. The travel-booking company announced its special committee had not found any potential deals with third parties that are in the best interest of shareholders. Dutch Bros — The coffee chain jumped 11% after first-quarter results came in above expectations. Dutch Bros reported adjusted earnings 9 cents per share on revenue of $275.1 million. Analysts polled by FactSet anticipated just 1 cent earned per share and $255.6 million in revenue. Twilio — The stock shed 6% after the cloud communications company gave disappointing guidance for its second quarter. Twilio said it expects revenue to range between $1.05 billion and $1.06 billion, versus FactSet’s consensus estimate of $1.08 billion. Affirm – Shares fell 8% even though the “buy now, pay later” company’s fiscal third-quarter results topped Wall Street estimates. Affirm lost 43 cents per share on $576 million of revenue. Analysts surveyed by LSEG were expecting a loss of 70 cents per share on $549 million of revenue. Match Group — The dating app fell around 5% after issuing second-quarter guidance that was below expectations. Match projected between $850 million and $860 million of revenue. Meanwhile, analysts surveyed by StreetAccount were forecasting $882.7 million. Teva Pharmaceuticals — Shares advanced nearly 14% after the company reported better-than-expected revenue in the first quarter. Revenue came in at $3.82 billion, while analysts polled by FactSet called for $3.73 billion. Management highlighted “robust growth” in its generics business, as well as migraine medication Ajovy and Huntington’s disease treatment Austedo. — CNBC’s Samantha Subin, Tanaya Macheel, Michelle Fox and Alex Harring contributed reporting
https://www.cnbc.com/2024/05/08/stocks-making-the-biggest-moves-midday-uber-intc-lyft-rivn.html
