Check out the companies making headlines in midday trading. AppLovin — The mobile ad tech company jumped 11.9% after first-quarter results that beat analyst expectations. AppLovin also announced it would sell its mobile gaming business in a $400 million deal. Carvana — Shares jumped 10.2% after the online used car marketplace posted better-than-expected first-quarter results . Arm Holdings — U.S.-listed shares of the British chip designer fell 6.2% after the company provided disappointing guidance for the current quarter . That overshadowed fiscal fourth-quarter earnings and revenue that beat expectations. Kenvue — The consumer health stock gained 4.1% on the heels of the company’s better-than-expected results for the first quarter. Adjusted earnings came in at 24 cents per share, above the 23 cents that analysts polled by FactSet were expecting. The company’s revenue of $3.74 billion also beat the consensus estimate of $3.68 billion. MercadoLibre — U.S.-listed shares of the Uruguay-based e-commerce and payments firm advanced 6.5% following the company’s first-quarter results. MercadoLibre earned $9.74 per share on revenue of $5.94 billion. Analysts polled by FactSet expected a profit of $8.27 per share on revenue of $5.47 billion. Cleveland-Cliffs — Shares of the steelmaker plunged 15.8% after its first-quarter results missed analyst estimates. The company lost 92 cents per share, excluding items, while analysts polled by FactSet called for a loss of 82 cents per share. Revenue also fell short of expectations. Fortinet — The cybersecurity company pulled back 8.4% on lackluster full-year guidance. The company sees adjusted earnings are expected to come in between $2.43 and $2.49 per share. The midpoint of that range coming in just below the LSEG consensus estimate of $2.47 per share. Peloton — The digital workout company dipped 6.7% after posting a steeper-than-anticipated loss for the fiscal third quarter. Peloton lost 12 cents per share, while analysts polled by LSEG expected a loss of 6 cents per share. Crocs — The footwear company soared 9.8% after it reported upbeat earnings and revenue for the first quarter. However, the company announced it was withdrawing its full-year guidance ” due to macroeconomic uncertainties stemming from global trade policies .” Drug stocks — Shares of key drugmakers tumbled after Politico, citing people familiar with the matter, reported that President Donald Trump was planning to pursue a Medicare price plan that would slash drug costs. Eli Lilly and Regeneron fell 3.3% and 2.4%, respectively, while AbbVie shed 1.3%. Amgen and Bristol Myers also moved more than 1% lower. Shopify — The commerce technology platform slid 0.5% after the company’s adjusted operating income came in below analyst expectations. Warner Bros. Discovery — The media conglomerate’s stock popped 5.3% after CNBC’s David Faber reported, citing sources, that the company was considering separating its linear networks from cable. — CNBC’s Alex Harring, Hakyung Kim and Lisa Kailai Han contributed reporting. Correction: Peloton reported fiscal third-quarter results. A previous version misstated the quarter.
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Our finance blog is your go-to resource for expert financial advice, covering everything from personal budgeting and saving strategies to smart investing and market analysis. Stay updated with the latest trends, tips, and insights to help you make informed decisions and achieve financial success.
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