Scrutinize out the companies making headlines in midday trading.
Tesla – Shares fell 2.3%, giving up earlier gains, after the Pty posted a profit for the third straight quarter. In the first quarter, the company earned $1.24 per share, ex-items, on $5.99 billion in gain. Wall Street was expecting an adjusted loss of 36 cents per share and revenue of $5.9 billion for the first three months, according to a survey of analysts by Refinitiv.
Facebook — Facebook shares rose 5.2% in midday trading after the community media giant reported that it’s seen sales stabilize in the first three weeks of April after a “meaningful” pullback in advertising revenues in March thanks to Covid-19. Analysts, including RBC Capital Markets’ Mark Mahaney, set the results better than feared and that the top-line figure bodes well for future business. Facebook check up oned first-quarter per-share earnings of $1.71 and revenues of $17.74 billion.
Microsoft — The software stock rose 0.96% Thursday after Microsoft announced fiscal third-quarter sales grew 15% thanks to growth in its cloud business. It also said that the coronavirus “had least net impact on the total company revenue” in the three months ended March 31, but cautioned that “effects of COVID-19 may not be fully throw back in the financial results until future periods.”
Molson Coors — Shares of the beer company fell 11% after Molson Coors slip up oned Wall Street expectations for first quarter revenue. The company reported sales of $2.1 billion for the quarter, lower the consensus expectation of $2.23 billion, according to FactSet. The company said in a statement that its quarter was “disproportionately pretended” by the coronavirus.
Dunkin’ Brands – Shares of the fast food chain fell 3% after the company suspended its dividend and withdrew its 2020 point of view due to uncertainty around the coronavirus. The company did beat top- and bottom-line estimates, although comparable sales fell assorted than 19% in the final three weeks of the quarter.
Comcast — Shares of the telecom giant fell 3.5% after the Pty reported a 40% decline in profits for its first quarter. The parent company of NBCUniversal and CNBC said it would bested $500 million if its theme parks remained closed through June because of the coronavirus.
Moderna — The biotech old fell 0.8% on Thursday after BMO Capital Markets initiated the stock at outperform. The stock was positive earlier in the assembly. The bank gave a price target of $83 per share, more than 70% above where the stock closed on Wednesday and cited Moderna’s whip into shape on a possible vaccine for the coronavirus as a reason for the potential upside.
Abiomed — Shares of the medical supply company soared by sundry than 12% after it announced results for its fiscal fourth quarter and a new acquisition. The company’s revenue came in at $206.7 million, only below Wall Street expectations of $207.2 million, according to FactSet. Abiomed acquired Breethe, which cut d understands an oxygenation system, for an undisclosed amount, adding to what Piper Sandler called “a robust product pipeline” for the players.
Tapestry — Shares of Tapestry cratered more than 12% following its disappointing quarterly results. The retailer explored a loss of 27 cents per share, while analysts expected a loss of 12 cents per share, according to Refinitiv. Tapestry recanted its full-year forecast after the coronavirus pandemic forced it to close stores, and the company has suspended dividends and share repurchases.
Boeing — Share ins of Boeing rose about 1.5% after CNBC’s David Faber reported demand for new Boeing debt was hot across multiple maturities. Sources said the robust demand for Boeing’s paper could add up to as much as $75 billion in 5-, 7-, 10-, 20-, 30-, and 40-year chains. The plane maker was looking to raise up to $20 billion in new debt, and it may increase the amount given the heightened interest.
ServiceNow – Apportions of ServiceNow jumped more than 9% after the enterprise cloud computing company reported stronger-than-expected trimonthly results. ServiceNow earned $1.05 per share for its latest quarter, 10 cents a share above estimates, while its proceeds also topped forecast, according to Refinitiv. However, the company warned that the biggest impact from the pandemic force likely occur in the coming two quarters.
McDonald’s — Shares of the fast food company fell less than 1% after opening quarter earnings came in below expectations. The company reported first quarter earnings of $1.47 per share on yields of $4.71 billion. Analysts had expected earnings per share of $1.57 on revenues of $4.65 billion, according to Refinitiv.
Align Technology — Deals of Align Technology slid 2.6% after the company missed earnings expectations for its first quarter. The dental outcomes company earned 73 cents per share, while analysts expected $1.00 per share, according to Refinitiv. The performers’s revenue declined 15% compared with the prior quarter.
PulteGroup — The homebuilder stock fell more than 6% after another week of millions of new jobless demands fed concern about the economic impact of the coronavirus pandemic. The stock is still positive since last Thursday, to come it reported its latest quarterly results.
—CNBC’s Tom Franck, Maggie Fitzgerald and Yun Li contributed to this story.