A customer walks towards the entrance of a CVS Health Corp store. in downtown Los Angeles, California, USA, on Friday, October 27, 2017.
Christopher Lee | Bloomberg | Getty Images
Check out the companies making headlines in Wednesday’s midday trade.
Gilead Sciences — Shares of the biopharmaceutical company rose 6.6% after quarterly revenue of $6.26 billion beat FactSet’s forecast of $5.86 billion. The full-year revenue guidance of $24.5 billion was also better than expected.
CVS Health – Shares of the pharmaceutical giant rose 5.7% after the company beat Wall Street expectations for second-quarter earnings. It also posted an 8% increase in same-store sales compared to the same period last year, citing customers’ purchases of home Covid test kits and cough, cold and flu medications.
Electronic Arts — The video game company rose 4% after reporting adjusted earnings of 47 cents per share, beating Refinitv’s forecast of 28 cents per share for the latest quarter. Net bookings of $1.30 billion also beat estimates of $1.26 billion, thanks in part to strength within the EA FIFA franchise.
Charles River Laboratories – Stocks fell 9.2% after the pharmaceutical company cut its full-year guidance, citing a stronger dollar and rising interest rates.
Starbucks — The coffee chain saw shares rise more than 3% after reporting better-than-expected quarterly results, although lockdowns in China weighed on its performance. However, in the US, net sales were up 9% to $8.15 billion and same-store sales grew 3%.
Moderna — Vaccine stockpiles jumped 16.7% after Moderna’s second-quarter results easily beat Wall Street estimates. The company reported earnings per share of $5.24 on revenue of $4.75 billion. Analysts polled by Refinitiv expected earnings per share of $4.55 and revenue of $4.07 billion. Moderna also announced a $3 billion share buyback program.
SoFi Technologies — Shares soared more than 27% after the personal finance firm posted a hit on the top and bottom lines, issued strong full-year earnings guidance and reported a 91% jump in personal loan origination volumes.
Match Group — Shares of dating app operator fell 17% after the company reported revenue of $795 million for the second quarter, compared to StreetAccount’s estimate of $803.9 million. Match also issued a weak guide and announced the departure of Renate Nyborg, the CEO of its Tinder unit.
Airbnb — Airbnb shares fell about 3% after the vacation home rental company posted lower-than-expected revenue for the second quarter. The company also reported more than 103 million nights and experiences booked, the largest quarterly number ever for the company but less than StreetAccount’s forecast of 106.4 million.
PayPal — Shares of the payments giant jumped 9.4% following stronger-than-expected second-quarter results and improved forecasts. PayPal also revealed that it had signed an information-sharing agreement with Elliott Management and announced a $15 billion share buyback program.
— CNBC’s Jesse Pound and Sarah Min contributed to reporting