Check out the companies making headlines in midday trading: Tesla — The electric vehicle stock gained nearly 7%, continuing to rally on the heels of Donald Trump winning a second presidential term. The Elon Musk-helmed company saw its market capitalization rise to $1 trillion on Friday. Shares have gained more than 26% this week. Trump Media & Technology — Trump’s social media company advanced 12% after he said he had no plan to sell any of his nearly $3 billion stake . Five Below — The discount retailer slipped more than 4% as the ramifications of Trump’s potential tariffs on Chinese imports continued to weigh on the stock. Upstart — The lending platform surged more than 46% after issuing a better-than-expected revenue forecast for the current quarter, on top of surpassing analysts’ estimates for both revenue and earnings in the third quarter. Pinterest — Shares of the image-sharing platform pulled back 16% after the company issued a lower-than-expected revenue outlook for the current quarter. Block — The Cash App parent company slumped more than 4.5% after its third-quarter revenue of $5.98 billion missed expectations. Analysts anticipated revenue of $6.24 billion, per LSEG. Airbnb — Shares fell more than 8% after the homestay company posted mixed quarterly results. Airbnb managed to beat revenue estimates, but earnings came just below expectations. DraftKings — Shares of the sports betting company gained 1% even after DraftKings posted weaker-than-expected third-quarter earnings and a disappointing revenue outlook for the current quarter. Toast — The restaurant management company climbed 13% after it forecast adjusted EBITDA of between $90 million and $100 million for the current quarter. Analysts expected guidance around $74.8 million, per LSEG. Arista Networks — Shares of the computer networking company fell 7% despite third-quarter results beating analysts’ estimates. Arista also announced a four-for-one stock split. Lucid Group — The stock fell more than 4% despite the electric carmaker posting better-than-expected third-quarter results . The company posted an adjusted loss per share of 28 cents on revenue of $200 million. Analysts expected a loss of 30 cents per share on $198 million in revenue, according to LSEG. That said, Lucid’s net loss widened in the period, posting $992.5 million versus $630.9 million in the year-ago period. Capri Holdings — The fashion holding company sank more than 10% following a fiscal second-quarter earnings and revenue miss. Capri reported an adjusted 65 cents per share on revenue of $1.08 billion. Analysts polled by LSEG expected 75 cents in earnings per share and $1.18 billion. Monster Beverage — The energy drink company shed 2.1% after reporting worse-than-anticipated results for the third quarter. Monster earned 40 cents per share, excluding items, on $1.88 billion in revenue, while analysts polled by FactSet predicted 43 cents in earnings per share and $1.91 billion in revenue. Affirm Holdings — Shares dipped more than 10% even as the buy now, pay later company reported better-than-expected first-quarter results on the top and bottom lines . BioNTech — The German biotechnology company advanced nearly 5% after Goldman Sachs upgraded the stock to buy from neutral , citing upside from a new cancer treatment. Bath & Body Works — Shares pulled back nearly 6% after Barclays downgraded the retailer to equal weight from overweight, over concern that sales and margin could be squeezed in 2025. — CNBC’s Hakyung Kim, Alex Harring and Sean Conlon contributed reporting.
https://www.cnbc.com/2024/11/08/stocks-making-the-biggest-moves-midday-tsla-abnb-tost-pins.html
