Check out the companies making headlines in midday trading.
Roku — Streaming platform Roku jumped 11% after the company reported a surprise adjusted profit for its third quarter. The company posted 9 cents in earnings per share on $452 million in revenue. Analysts had projected a loss of 40 cents per share and $366 million in revenue, according to Refinitiv. The company added 3 million active accounts during the quarter.
Square — Shares of the payment provider jumped more than 10% on the heels of the company’s stronger-than-expected quarterly results. Square earned 34 cents per share on an adjusted basis, compared to the 16 cents analysts surveyed by Refinitiv expected. Revenue also topped estimates as the company saw a rebound in payment volumes.
Zillow Group — Shares jumped more than 14% after the company more than tripled earnings expectations during the third quarter. Zillow earned 37 cents per share on an adjusted basis, while analysts surveyed by Refinitiv expected a profit of 11 cents per share. Revenue also topped expectations, while the company’s unadjusted profit was the largest in its history.
Uber — Shares of the ridesharing and delivery company rallied 6% after Uber’s third-quarter results showed a smaller-than-expected loss despite missing revenue estimates. Uber reported an adjusted loss of 62 cents per share on $3.13 billion in revenue. Analysts surveyed by Refinitiv projected a loss of 65 cents per share and $3.20 billion in revenue. CEO Dara Khosrowshahi said on a conference call that Uber was seeing its ridesharing business rebound.
Yelp — Yelp gained 11% after RBC upgraded the stock to an outperform rating following the company’s third quarter results. RBC pointed to an “attractive valuation and improving fundamentals.” The firm’s $29 target represents 31% upside from the stock’s closing price on Thursday.
T-Mobile – Shares of T-Mobile jumped more than 5% after the mobile operator posted quarterly results that topped Wall Street estimates. T-Mobile reported an EPS of $1.00 for the third quarter, well above an estimate of 46 cents according to FactSet. The company said it added more postpaid phone subscribers than expected, helping its revenue beat expectations.
Peloton — Shares of Peloton rose 2% following the stationary bike maker’s better-than-expected quarterly results. The workout company posted earnings of 20 cents per share on revenue of $758 million. Wall Street had forecast earnings of 11 cents per share on revenue of $748 million, according to Refintiv. Peloton also said the recent spike in Covid-19 cases has led to a boost in orders, causing the workout company to raise its 2021 revenue outlook.
Electronic Arts — Shares of Electronic Arts dropped nearly 8% after the video game maker reported a revenue miss for its fiscal second quarter. The company posted revenue of $910 million, below a FactSet estimate of $959 million. Earnings came in at 21 cents per share, better than the expected 3 cent per share profit.
Coty — Shares of the cosmetics retailer jumped 13% after the company reported a surprise profit for the third quarter. Coty posted earnings of 11 cents per share, while Wall Street was expecting a loss of 5 cents per share, according to Refinitiv. Revenue came in at $1.12 billion, topping estimates of $1.08 billion.
CVS Health — Shares of the pharmacy giant popped more than 6% on the back of better-than-expected quarterly results. CVS reported a profit of $1.66 per share on revenue of $67.06 billion. Analysts polled by Refinitiv expected earnings per share of $1.33 on revenue of $66.66 billion. The company also raised its full-year earnings guidance.
— CNBC’s Yun Li, Maggie Fitzgerald, Fred Imbert and Jesse Pound contributed reporting.
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