Stocks making the biggest moves midday: Etsy, Virgin Galactic, Foot Locker & more
Etsy CEO Chad Dickerson and others celebrate their IPO at the Nasdaq exchange, April 16, 2015.
Check out the companies making headlines in midday trading.
Etsy — Shares of the e-commerce company popped nearly 13% on Friday after beating on the top and bottom lines of its quarterly results. Etsy earned $1.08 per share for its latest quarter, well above the 59 cent consensus estimate, while the online crafts marketplace also saw revenue beat Wall Street forecasts. “2020 was an inflection point in history for e-commerce and for Etsy,” the company said in a statement.
Beyond Meat — Shares of the alternative meat producer jumped more than 2% after the company struck a three-year deal to be the preferred supplier for the McDonald’s “McPlant” plant-based burger. Beyond Meat also reach an exclusive supply deal with Taco Bell parent Yum Brands.
Apple, Facebook, Microsoft – Big Tech stocks lifted the broader market higher as they rebounded from sharp losses in the previous session amid soaring bond yields. Shares of Apple and Microsoft gained more than 2% each, while Facebook jumped 3.7%. Amazon and Alphabet also climbed more than 1%.
Virgin Galactic — Shares of the commercial spaceflight company dropped 11% after announcing its next spaceflight test is delayed to May and pushing the beginning of flying passengers to early 2022. Virgin Galactic was targeting as early as Feb. 13 for the spaceflight test but delayed it to May due to further corrective work needed. The space tourism company reported an adjusted EBITDA loss of $59.5 million, down slightly from a loss of $66 million in the previous quarter.
Rocket Companies — The parent of Quicken Loans saw its stock rally about 13% in midday trading after it posted fourth-quarter profit of $1.09 per share, compared to a consensus estimate of 87 cents a share. Revenue also topped forecasts. Rocket completed a year of record mortgage volume, and announced it would pay a special dividend of $1.11 per share.
DraftKings — Shares of the online sports gambling company rose nearly 7% around noon after it both reported stronger-than-expected quarterly sales and hiked its full-year revenue forecast. DraftKings said users are more frequently access its platforms thanks to marketing campaigns and continued legalization of sports gambling.
Airbnb — Shares of the home rental company jumped more than 14% after Airbnb posted its first quarterly update as a publicly traded company. Airbnb reported a $3.89 billion loss, although revenue did beat expectations. Sales came in at $859 million compared to the $748 million expected by Wall Street, according to estimates from Refinitiv.
DoorDash — Shares of the food delivery service slid more than 1% following the company’s quarterly results. DoorDash generated $970 million in revenue, which was ahead of the Street consensus estimate for $938 million, according to a Refinitiv survey of analysts. The quarterly report was the company’s first after DoorDash went public in December.
Foot Locker — Shares of the shoe retailer fell more than 6% on Friday after revenue for the company’s fiscal fourth-quarter came in below expectations. Foot Locker’s comparable store sales were down more than 2% compared with the year ago period. The company’s earnings per share did beat expectations, according to estimates compiled by Refinitiv.
Salesforce — The software giant saw its stock dip more than 4% despite beating expectations on the top and bottom lines for its fourth quarter. The company reported $1.04 in adjusted earnings per share on $5.82 billion in revenue. Analysts surveyed by Refinitiv had penciled in 75 cents per share and $5.68 billion in revenue. The company said its adjusted operating margin for the quarter was 17.5%, down slightly from the full-year average.
– CNBC’s Pippa Stevens, Jesse Pound, Maggie Fitzgerald and Yun Li contributed reporting.
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