Home / Business / Stocks making the greatest relocations midday: Facebook, Ford, eBay and more

Stocks making the greatest relocations midday: Facebook, Ford, eBay and more

Take a look at the companies making headlines in midday trading.

Ford– Shares of the car manufacturer fell more than 9% on Thursday after Ford said it anticipated to lose half of its second-quarter production due to the international semiconductor shortage. The company did beat expectations on the leading and bottom lines for the first quarter.

Facebook– The social network saw its stock pop 5.3% in midday trading after it reported first-quarter profits of $26.17 billion, a 48% increase compared with a year prior, thanks to more expensive advertisements. Facebook likewise decreased its projection for capital investment for the year to in between $19 billion and $21 billion.

Uber, Lyft– Shares of the flight hailing business dipped after Labor Secretary Marty Walsh stated many gig employees in the U.S. need to be classified as employees, Reuters reported. Uber dropped 6% and Lyft tumbled 9%.

Caterpillar– Shares of the worldwide machinery maker dropped more than 3%, even after it reported better-than-expected sales and earnings for the very first quarter. The stock appeared to come under pressure after CEO Jim Umpleby suggested that global supply-chain concerns, including the semiconductor scarcity, might make it tougher for the heavy-equipment maker to meet recovering demand this year.

Qualcomm– Qualcomm shares advanced nearly 3% after the chipmaker reported that revenue grew 52% on an annualized basis in the three months ended March 28. The company reported adjusted per-share revenues of $1.90 versus the $1.67 expected by experts surveyed by Refinitiv.

Cheesecake Factory– Shares of the restaurant chain got about 5.5% after reporting an adjusted quarterly earnings of 20 cents per share, while analysts anticipated a loss of 6 cents per share, according to Refinitiv. Revenue likewise topped expectations.

Spotify– The streaming business’s share cost rose about 1.6% after Critical updated it to purchase from hold. Spotify cratered 12% on Wednesday after the first-quarter report showed slower-than-expected development for monthly active users. However, Essential expert Jeffrey Wlodarczak said the company was still set up for strong development in the years ahead.

eBay– Shares of the e-commerce business tanked more than 11% after offering disappointing existing quarter guidance. EBay beat on the top and bottom lines of its quarterly results.

Merck & Co.– The pharmaceutical stock shed more than 5% after Merck’s first-quarter results came in listed below expectations. The business reported $1.40 in adjusted incomes per share on $12.08 billion in earnings for the quarter. Analysts surveyed by Refinitiv were trying to find $1.63 in profits per share on $12.66 billion in earnings.

DISH Network– The tv stock rose 7.3% after Dish surpassed expectations for the very first quarter. The business made 99 cents per share, which is 18 cents higher than experts had actually penciled in, according to Refinitiv. Revenue beat expectations also, as the decrease in TV customers slowed.

Comcast– Shares of the NBCUniversal and CNBC parent jumped 3.7% after beating estimates, reporting adjusted quarterly incomes of 76 cents per share, according to Refinitiv. Earnings likewise topped expectations.

Generac– Shares of the generator maker popped 3.5% after the business beat on the leading and bottom lines of its quarterly results. Generac reported EPS of $2.38 on profits of $807 million. Analysts expected EPS of $1.87 on profits of $729 million, according to Refinitiv.

Bristol-Myers Squibb– Shares of the pharmaceutical business dropped 4.5% after missing on the top and bottom lines of its quarterly outcomes. Bristol-Myers Squibb reported earnings of $1.74 per share, compared to the $1.82 per share estimate, according to Refinitiv. Revenue was available in at $11.07 billion, lower than the projection $11.12 billion.

— with reporting from CNBC’s Jesse Pound and Tom Franck.

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