Check out the companies making headlines in midday trading. Peloton — Shares soared 28% after the exercise equipment company posted better-than-expected results for its fiscal first quarter and raised its full-year profit outlook. Peloton also announced that Ford executive Peter Stern will serve as its next CEO starting January. Carvana — The used car platform rose 23% after posting a third-quarter earnings and revenue beat . Carvana also said that its full-year adjusted earnings before interest, taxes, depreciation and amortization would be “significantly above the high end” of its previous target range. Norwegian Cruise Line Holdings — The cruise stock popped 10% after a third-quarter report that exceeded Wall Street expectations. Norwegian reported 99 cents in adjusted earnings per share on $2.81 billion of revenue. Analysts surveyed by FactSet were looking for 92 cents and $2.77 billion of revenue. The company also raised its full-year earnings guidance. Etsy — Shares rallied 8% after the online e-commerce platform posted third-quarter results that surprised to the upside. Etsy reported adjusted EBITDA of $183.6 million on $662.4 million in revenue. That’s higher than the adjusted EBITDA of $177.4 million on $652.5 million in revenue that analysts polled by FactSet had expected. Altria Group — The tobacco stock surged 7% after reporting third-quarter adjusted earnings per share of $1.38, while consensus had called for $1.35 per share, according to FactSet. Revenue of $5.34 billion also surpassed the forecast $5.33 billion. Microsoft — The tech titan slipped 5% after forecasting weaker revenue for the current quarter than analysts had expected. Microsoft called for revenue ranging between $68.1 billion to $69.1 billion, while analysts had forecasted $69.83 billion, according to LSEG. However, Microsoft posted fiscal first-quarter results that topped analysts’ estimates. eBay — Shares declined 9% after the online marketplace issued disappointing fourth-quarter guidance . For the current quarter, eBay sees revenue coming in between $2.53 billion to $2.59 billion. Analysts had called for $2.65 billion in sales, according to StreetAccount. On the other hand, the company posted a third-quarter earnings and revenue beat. Coinbase — The cryptocurrency exchange platform shed 10% after posting a third-quarter earnings and revenue miss . Coinbase’s revenue came in at $1.21 billion, while analysts polled by LSEG anticipated a top line figure of $1.26 billion. Uber — The stock plunged more than 10% after the ride-sharing company’s third-quarter gross bookings missed Wall Street’s expectations . Uber posted $40.97 billion in gross bookings, while analysts were looking for $41.25 billion, according to StreetAccount. MGM Resorts — The casino operator fell 10.6% after posting third-quarter adjusted earnings of 54 cents per share, down from 64 cents per share a year ago. MGM also reported net revenue of $4.18 billion, below FactSet’s consensus of $4.21 billion. Super Micro Computer — The AI server maker slumped 13%. That comes a day after shares shed 33% and posted their worst day since 2018 after revealing that Ernst & Young had resigned as its auditor . Teleflex — Shares plummeted 15.6% after the medical device provider reported third-quarter revenue of $764.4 million, below FactSet’s estimated $768.7 million. The company also cut its full-year revenue guidance. Robinhood — The brokerage firm declined 14.6% after posting third-quarter per-share earnings of 17 cents, below the 18 cents per share analysts polled by LSEG had expected. Robinhood’s revenue of $637 million also came below the forecasted $658 million. In an earnings call, Robinhood’s chief financial officer blamed marketing promotions for weighing down revenue. Estee Lauder — Shares tumbled more than 20% after the luxury cosmetics titan pulled its forecast for annual financial performance . The company, which said China demand remains fraught, also slashed its quarterly dividend. — CNBC’s Sean Conlon, Alex Harring, Jesse Pound and Samantha Subin contributed reporting.
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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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