Twitter signage at the New York Stock Exchange.
Scott Eells | Bloomberg | Getty Images
Here are the companies that make headlines in midday trading.
Whirlpool – Shares rose nearly 8% after the company’s second quarter results exceeded Street estimates. The home appliance manufacturer earned $ 2.15 per share on a rectified basis, which was more than double that of analysts by $ 1, according to Refinitiv’s estimates. Revenue also exceeded expectations and the company increased its revenue outlook for the full year.
Twitter – Twitter shares rose 4.1% after the social media company posted strong user growth in the second quarter. Daily monetizable active users jumped to 186 million, an increase of 34% year on year, marking the highest rate since the company started reporting the metric. Twitter, however, said that its advertising revenue plummeted 23% due to the pandemic.
Microsoft – The shares of the software giant fell by 4.4% after the company’s orientation was weak compared to Wall Street’s expectations. According to Refiniv estimates, Microsoft outperformed its profit and profit estimates for its fourth fiscal quarter, but its revenue forecast of $ 35.61 billion in the fourth quarter was $ 300 million lower than expected. Oppenheimer has also downgraded the title to obtain superior results.
Las Vegas Sands, MGM Resorts – Las Vegas Sands shares fell 4.2% after the company posted second-quarter revenues of $ 98 million, more than $ 400 million below Wall Street expectations, according to Refinitiv. The loss per share was also larger than expected. Casino mates MGM Resorts declined 2.7% following the news.
PulteGroup – PulteGroup shares rose 4.7% after the house construction company posted better than expected quarterly results. Pulte posted earnings per share of $ 1.29 in the second quarter, surpassing analysts’ estimates of 89 cents per share, according to FactSet. In the meantime, his earnings also exceeded expectations. The company said it was encouraged in mid-2020, given the second quarter’s sales strength.
American Airlines – Shares gained more than 3% despite the airline reporting a net loss of $ 2.1 billion for the second quarter as air travel remained depressed due to the pandemic. However, the airline has restored more capacity than some of its competitors. “The current environment is more unpredictable and more volatile than anything we could have ever imagined,” said CEO Doug Parker in a statement.
Travelers – The insurance company’s shares fell nearly 3% following its weak earnings report. The company reported a loss of 20 cents per share, in line with estimates. Travelers lost revenue, earning $ 7.35 billion, compared to analysts’ $ 7.37 billion.
Equifax – Equifax shares rose 5.1% after the company exceeded Wall Street’s expectations for its second quarter. The company reported adjusted earnings of $ 1.60 per share and $ 982.2 million in revenue. Analysts interviewed by FactSet were looking for $ 1.30 per share and revenue of $ 922.5 million. The company said one of its segments of the workforce solutions had the best quarter in over a decade.
Allegion – Security company shares fell more than 8% after second-quarter earnings fell short of Wall Street expectations. Revenue in the United States was over $ 15 million what analysts surveyed by FactSet were looking for. Adjusted earnings per share reached eight cents more than expected, according to FactSet.
– CNBC’s Yun Li, Pippa Stevens and Maggie Fitzgerald contributed to this story.