Stocks making the biggest moves midday: Under Armour, Robinhood, Peloton, Lincoln National and more
Check out the companies making headlines in midday trading Thursday.
Under Armour — Shares of the athletic apparel maker jumped 11.6% after the company reported better-than-expected earnings for its latest quarter, along with revenue that was roughly in line with Wall Street forecasts.
Etsy — Shares of the e-commerce platform jumped 12.8% after the company posted third-quarter results that beat expectations. The platform also reported having more active buyers and sellers than estimated by StreetAccount.
Zillow — The stock jumped more than 12% after Zillow's third-quarter earnings and revenue beat expectations. The real estate tech company reported earnings of 38 cents per share on revenue of $483 million. Analysts surveyed by Refinitiv forecasted earnings of 11 cents per share on revenue of $456 million.
Robinhood — Shares of the trading app soared 9.7% after the company reported a smaller-than-expected quarterly loss as well as revenue that topped analyst forecasts. Investors also cheered that Robinhood lowered its operating expense forecast for the full year. The stock is still down about 30% this year.
Crown Holdings - Shares of the beverage-can maker jumped more than 9% after The Wall Street Journal reported that activist investor Carl Icahn has amassed an 8% stake in Crown, making him the second-largest shareholder. Deutsche Bank thinks investors should follow Icahn's suit as the firm sees a 45% upside in the stock.
Tal Education — The Chinese education company saw its shares climb 8% after UBS upgraded its shares to buy from neutral. UBS highlighted Tal's strong topline beat and improved profitability outlook.
Royal Caribbean — Shares gained more than 5.4% after Royal Caribbean reported third-quarter earnings that beat profit and sales forecasts. The cruise operator earned 26 cents per share, excluding certain items, on revenue of $2.99 billion. Analysts expected a profit of 19 cents a share on sales of $2.97 billion, Refinitiv data shows.
Boeing — Shares of Boeing gained 6.5%, a day after the company said it was planning to ramp up production and deliveries of new aircraft. Boeing also expects to have free cash flow of $10 billion by 2025-2026, according to StreetAccount.
Fortinet — Shares dropped 11.8% after Fortinet reported fourth-quarter billing guidance that came in below expectations. The cybersecurity company otherwise beat profit and sales expectations, according to consensus estimates on FactSet.
Fidelity National Information Services — FIS tumbled 25% after missing profit and sales expectations in its third quarter, according to consensus estimates on FactSet. The company also issued "below consensus CY22 guidance," and provided a cautious outlook on the possibility of a recession, according to a Thursday note from Wedbush following the results.
Lincoln National — Shares dropped 33% after Lincoln National missed earnings per share expectations in its third quarter, despite surprising to the upside on its sales forecast. The insurance company was downgraded to equal weight from overweight by Morgan Stanley, which said in a Thursday note that an "outsized charge from the company related to lower lapses in its individual life insurance operations" will weigh on investor confidence in the stock.
Peloton — The fitness company fell as much as 16.1% after it reported a wider-than-expected loss for the recent quarter and shared a disappointing outlook for the holiday quarter. Peloton's reported revenue was also below analysts' expectations, falling 23% year over year. The stock later recovered to trade 1% higher.
Qualcomm — Shares of Qualcomm slipped 6.1% after the company gave a first-quarter guidance that fell below expectations, citing weak demand in China and inventory problems. The company reported adjusted earnings per share of $3.13, in line with Wall Street expectations. Revenues in the quarter were $11.39 billion compared to the estimate of $11.37 billion.
Roku — Shares of Roku fell 3.1% after the streaming platform said it sees lower fourth-quarter revenues and a larger loss than Wall Street expected. For the third quarter, the company lost 88 cents per share, less than a Refinitiv forecast of a $1.28 per share loss.
Nikola — Nikola shares dropped 5.4% after electric heavy truck maker cut its full-year production guidance, and declined to provide its 2023 forecast. Otherwise, the company reported a strong third-quarter earnings report, beating on the top and bottom lines.
Tempur Sealy — Shares jumped 9% after Tempur Sealy reported a beat on earnings expectations for the third quarter, while slightly missing on revenue forecasts. The mattress maker earned 78 cents per share on revenue of $1.28 billion. Analysts expected the company would report 75 earnings per share on $1.29 billion of revenue, according to consensus estimates from Refinitiv.
— CNBC's Michelle Fox, Alexander Harring, Yun Li, Tanaya Macheel, Carmen Reinicke and Samantha Subin contributed this report