Southwest Airlines planes beryllium idle connected the tarmac aft Southwest Airlines flights resumed pursuing the lifting of a little nationwide stoppage caused by an interior method issue, according to the U.S. Federal Aviation Authority (FAA), astatine Chicago Midway International Airport successful Chicago, Illinois, April 18, 2023.
Jim Vondruska | Reuters
Check retired the companies making headlines successful midday trading.
Roku — The streaming platform's banal shed astir 2% after Citi downgraded shares to neutral from buy. The steadfast said that Roku shares, which person jumped astir 120% twelvemonth to date, whitethorn person constricted further upside.
Simon Property Group — Shares dropped adjacent to 6% after Simon Property Group reported a diminution successful funds from operations compared to a twelvemonth ago. During the 2nd quarter, funds from operations came successful astatine $2.88 per diluted share, compared to $2.91 per diluted stock successful the year-ago period.
Southwest Airlines — Shares slipped 2.5% aft Jefferies downgraded the aerial bearer to underperform from hold. The steadfast cited trouble competing against premium providers.
Etsy — Stock successful the e-commerce institution plummeted astir 12% aft reporting quarterly results. Etsy disappointed investors connected Wednesday with little guardant guidance contempt a second-quarter net beat.
Qualcomm — The chipmaker tumbled 9%. Qualcomm posted adjusted gross of $8.44 billion, falling abbreviated of analysts' estimates for $8.5 billion, per Refinitiv. The institution besides gave brushed guidance and noted anemic smartphone spot sales.
DoorDash - Shares of the nutrient transportation institution jumped astir 4% a time aft the steadfast boosted its yearly halfway nett forecast. DoorDash besides reported gross of $2.13 cardinal successful the 2nd quarter, beating analysts' estimation of $2.06 billion, per Refinitiv. The institution did station a bigger-than-expected nonaccomplishment past quarter, however.
Traeger — Stock successful the grill shaper soared 45% aft an net bushed aft the closing doorbell connected Wednesday. Traeger reported adjusted net of 4 cents per stock connected $171.5 cardinal successful revenue, portion analysts polled by FactSet had forecasted a per-share nonaccomplishment of 2 cents and $154.9 cardinal of revenue.
Clorox — Clorox banal added to earlier gains with a 9.5% leap successful midday trading. The institution bushed connected net and gross a time earlier, reporting an adjusted $1.67 per stock and $2.02 cardinal successful gross against analysts' estimates of $1.18 per stock and $1.88 cardinal of revenue, per Refinitiv.
PayPal — Shares mislaid 11.3% during Thursday's midday trading league aft the payments institution posted net that were successful enactment with analysts' predictions Wednesday station market. PayPal reported adjusted net of $1.16 per share, which was besides estimated by analysts polled by Refinitiv. The company's gross bushed the Street's expectations, posting $7.29 cardinal compared to analysts' estimates of $7.27 billion.
SunRun — The star banal added 10% successful midday trading aft reporting earnings. On Wednesday, the institution reported net of 25 cents a stock for the 2nd quarter, portion analysts forecasted a nonaccomplishment of 13 cents a share, per Refinitiv.
Shopify — The e-commerce institution fell 5% contempt an net beat. connected Wednesday, Shopify reported an adjusted 14 cents per stock connected $1.69 cardinal successful revenue, portion analysts polled by Refinitiv forecasted 5 cents and $1.62 billion.
EVgo - Shares surged 21% a time aft the charging web relation reported a large net beat. EVgo posted an 8-cent nonaccomplishment per share, versus the 27-cent nonaccomplishment expected, according to Refinitiv. Revenue was $50.6 million, topping the $29.6 cardinal expected
Expedia — Stock successful the online travel planner fell 17% aft reporting a gross miss for the 2nd quarter. Expedia posted $3.36 cardinal successful revenue, falling abbreviated of the $3.37 cardinal analysts expected, according to Refinitiv. The institution issued brushed guidance for the 3rd quarter.
Cummins — Shares fell much than 8% aft Cummins missed connected net successful its latest quarterly report. The motor shaper reported net of $5.18 per share, excluding items, and $8.64 cardinal successful revenue. Analysts polled by FactSet called for net of $5.25 per stock and $8.39 cardinal of revenue.
— CNBC's Alex Harring, Yun Li, Michelle Fox, Hakyung Kim, Sarah Min and Pia Singh contributed reporting
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