Customers wait outside a Chipotle restaurant while waiting to place an order as Florida continues its Phase 1 state reopening during the coronavirus pandemic (COVID-19) on May 19, 2020 in Aventura, FL.
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Check out the companies that are making headlines in midday trading.
Chipotle Mexican Grill The fast food chain’s shares rose 11.5% after beating sales and bottom line Quarterly results. Chipotle reported profits of $ 7.46 on sales of $ 1.89 billion. According to Refinitiv, analysts expected a profit of 6.52 US dollars on sales of 1.88 billion US dollars. Revenue exceeded pre-pandemic levels as customers returned to restaurants for dinner.
Netflix The streaming platform’s share price slipped 3.3% after Netflix reported disappointment Third quarter revenue and subscriber forecast. According to Refinitiv, Netflix made $ 2.97 per share, which is below its estimate of $ 3.16 per share. The company expects 3.5 million net subscribers in the third quarter, nearly 2 million below analyst estimates.
Verizon Communications Verizon’s shares rose 0.7% after the company reported better-than-expected results in the second quarter. The telecommunications company had adjusted $ 1.37 per share on revenue of $ 33.76 billion for the second quarter. Analysts were expecting adjusted earnings per share of $ 1.30 on sales of $ 32.74 billion, according to Refinitiv.
Coke – The beverage maker’s shares rose about 1.3% after the company reported Second quarter result of 68 cents per share, which, according to Refinitiv, exceeds the forecasts by 12 cents per share. Sales exceeded pre-pandemic levels, and Coca-Cola also raised its forecast for the year.
United Airlines The airline’s stock rose 3.8% after the airline reported an unexpectedly high value Sales in the second quarter, thanks to a resurgence in air travel. United’s revenue beat projections by quadrupling year-over-year due to an increase in bookings. The airline assumes that the trend will continue despite the rapidly spreading delta variant. United reported a loss of $ 3.91, which was in line with Refinitiv’s expectations.
Harley Davidson Harley-Davidson stock was down 7.2% on mixed earnings for the second quarter. The motorcycle maker’s quarterly earnings of $ 1.33 per share were 16 cents above Wall Street estimates, according to Refinitiv. However, the company’s revenue in the second quarter fell short of analysts’ forecasts.
Sunnova and Sun run – Shares in Sunnova and Sunrun rose 3.9% and 4.9% respectively after JPMorgan named the two solar companies as the top picks. “We are highlighting the overweight Sunnova (NOVA) and Sunrun (RUN) as top picks for 2H21 due to increased inventory levels, which should position both companies relatively better to meet expected demand in the short term,” the bank said in a press release.
Really – Shares in the online mail order company rose. by around 5% Bank of America has upgraded the stock to buy from neutral. The company said in a note that RealReal has been hit harder by the pandemic than other e-commerce stocks and may now be ready for its valuation multiple to widen.
– CNBC’s Maggie Fitzgerald, Jesse Pound, Tanaya Macheel and Yun Li contributed to the coverage
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