Check out the companies that are making headlines in midday trading.
Roku Streaming platform Roku rose 11% after the company reported surprisingly adjusted earnings for the third quarter. The company had earnings per share of 9 cents on sales of $ 452 million. According to Refinitiv, analysts had forecast a loss of 40 cents per share and sales of 366 million US dollars. The company added 3 million active accounts in the quarter.
square The payment provider’s shares rose more than 10% on the company’s stronger-than-expected quarterly results. Square earned 34 cents per share on an adjusted basis, compared to the 16-cents analysts surveyed by Refinitiv. Revenue also beat estimates as the company saw a recovery in payment volumes.
Zillow group – Shares rose more than 14% after the company more than tripled earnings expectations in the third quarter. Zillow earned an adjusted 37 cents per share, while the analysts surveyed by Refinitiv expected earnings of 11 cents per share. Revenue also exceeded expectations, while the company’s unadjusted profit was the largest in its history.
About The ride-sharing and delivery company’s shares rose 6%, according to Uber Third quarter results showed a less than expected loss despite missing sales estimates. Uber reported an adjusted loss of 62 cents per share on sales of $ 3.13 billion. Analysts polled by Refinitiv forecast a loss of 65 cents per share and sales of $ 3.20 billion. CEO Dara Khosrowshahi said on a conference call that Uber would see a revival of its rideshare business.
Howl – Yelp was up 11% after RBC raised the stock to an outperform rating following its third quarter results. RBC pointed to an “attractive valuation and improvement in fundamentals”. The company’s target of $ 29 represents an upward movement of 31% from the stock’s closing price on Thursday.
T-Mobile – T-Mobile shares rose more than 5% after the wireless operator released quarterly results that beat Wall Street’s estimates. T-Mobile reported earnings per share of USD 1.00 for the third quarter, which, according to FactSet, is well above an estimate of 46 cents. The company said it added more postpaid phone subscribers than expected, which helped its earnings exceed expectations.
Peloton – Peloton’s shares rose 2% after that of stationary bike maker better than expected quarterly results. The workout company had earnings of 20 cents per share on sales of $ 758 million. According to Refintiv, Wall Street had forecast earnings of 11 cents per share on sales of $ 748 million. Peloton also said the recent surge in Covid-19 cases has led to one Order surgeThis resulted in the training company increasing its revenue prospects for 2021.
Electronic Arts Electronic Arts shares fell nearly 8% after the video game maker reported a loss in revenue for the second quarter of its fiscal year. The company had sales of $ 910 million, below a FactSet estimate of $ 959 million. At 21 cents per share, the result was above the expected profit of 3 cents per share.
Coty The cosmetics retailer’s shares rose 13% after the company posted a surprise profit in the third quarter. Coty posted earnings of 11 cents a share, while Wall Street was expecting a loss of 5 cents a share, according to Refinitiv. Revenue was $ 1.12 billion, beating estimates of $ 1.08 billion.
CVS health – Shares in the pharmacy giant slumped more than 6% on the back of better than expected quarterly results. CVS reported earnings of $ 1.66 per share on revenue of $ 67.06 billion. Analysts polled by Refinitiv expected earnings per share of $ 1.33 on sales of $ 66.66 billion. The company also raised its earnings guidance for the full year.
– CNBC’s Yun Li, Maggie Fitzgerald, Fred Imbert and Jesse Pound contributed to the coverage.
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