Check out the companies making headlines in Thursday midday trading.
Meta . Platform – Parent company on Facebook down 22.4% after issuing weak guidance for the current quarter and missing earnings estimates for the third quarter. Meta Platforms also shared revenue for the second consecutive quarter, with its Actual Labs unit losing more than $9 billion, and gunaffected by a series of analyst downgrades.
Caterpillar – Shares of the construction equipment maker rose 8.2% following the company’s quarterly earnings report, including pace in both bottom line and bottom line. Earnings came in at $3.95 per share on revenue of $14.99 billion, compared with an estimate of $3.16 per share on revenue of $14.33 billion, according to Refinitiv.
McDonald’s – Shares of the fast food giant rose 2.8% after the company beat earnings expectations for the most recent quarter. According to a McDonald’s report, traffic to American restaurants is growing even after the price hike.
Alignment technology – Invisalign maker saw its stock drop 18% after posting disappointing earnings for its most recent quarter. Align reported earnings of $1.36 per share on revenue of $890 million. Analysts expect $2.18 per share on revenue of $953 million, according to Refinitiv.
Credit Suisse – Coupon of Swiss banks plummet 19.5% after Credit Suisse reports bigger-than-expected loss for the third quarter. Credit Suisse also shared a restructuring plan to overhaul its struggling business.
Number of sleeps Shares fell 20% after Sleep Number issued a weak Q4 outlook, citing lower demand and semiconductor supply chain issues.
Energy Stocks – A bunch of energy stocks rose at midday when oil prices move higher. Baker Hughes, Marathon Oil and Phillips 66 each earns more than 2 dollars. Covercoupon of up 5.1% on strong earnings report that suggests the oil giant’s quarterly profit is more than double that of the same period last year.
ServiceNow Shares rose 13% after ServiceNow beat earnings expectations in its most recent quarter. Individual, MoffettNathanson upgraded ServiceNow to outperform market performancesays software stock could be a “new home” for big tech investors following its earnings results.
Comcast – Shares of the media giant up 4.8% after topping analyst earnings expectations for the third quarter. Despite the top beat, Comcast recorded a small revenue decline and continued slowing growth in its broadband customer segment.
Teladoc Health – Shares of Teledoc Health rose 7.8% after the company reported a narrower-than-expected loss in its most recent quarter. The company also reported revenue that beat Wall Street expectations for the quarter.
Wolfspeed – Shares of Wolfspeed fell more than 18.8% after the semiconductor company issued a weaker-than-expected futures guidance. The company forecasts a loss of 12 cents per share on sales of $225 million in the current quarter, while Wall Street is expected to lose 1% per share on revenue of $252.5 million.
Southwest – Airlines add 2.5% after beating analyst expectations in the upper and lower lines in the recent quarter and shows that travel demand remains strong. Southwest said it expected to continue to delay planes from Boeing into 2024.
Merck – Shares jumped 2% after Merck topped Wall Street expectations for top and bottom returns. The company posted earnings per share of $1.85 on revenue of $14.96 billion.
Honeywell – Shares rose 4% after Honeywell beat analyst expectations in the recent quarter. The industrial company cites growth in the commercial aerospace segment and advanced materials as one of the reasons for this period.
Shopify The e-commerce company jumped more than 16% after sharing a smaller-than-expected loss in the recent quarter.
AutoNation – AutoNation’s stock rose 7% despite falling earnings. According to analysts surveyed by Refinitiv, the auto retailer topped revenue expectations. The company also approved a $1 billion buyout but said used car prices are falling.
Boeing – Boeing Stocks up more than 4% after Goldman Sachs cut prices their price targets for the plane maker, but reiterate their faith in the company’s business. The new price target suggests the stock could rally more than 80% since late Wednesday.
O’Reilly Automotive – Shares of O’Reilly Automotive rose 3.9% after the company posted third-quarter results, beating analysts’ expectations for top and bottom profits. The company also enhanced its full-year guidance.
Stanley Black & Decker – Shares of the power tools maker fell 2.6% after the company cut its full-year earnings forecast per share, overshadowing better-than-expected third-quarter profit and revenue.
Keurig Dr Pepper The beverage maker lost 2.1% after missing Wall Street’s revenue estimates for the third quarter.
– CNBC’s Carmen Reinicke, Sarah Min and Tanaya Macheel contributed reporting
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC.
