Twitter signage at the New York Stock Exchange.
Scott Eells | Bloomberg | Getty Images
Here are the companies making headlines in midday trading.
Whirlpool Shares jumped nearly 8% after the company's second quarter results blew past Street estimates. The appliance maker earned $2.15 per share on an adjusted basis, which was more than double the $1 analysts were expecting, according to estimates from Refinitiv. Revenue also exceeded expectations, and the company raised its full-year revenue outlook.
Twitter Shares of Twitter rose 4.1% after the social media company reported strong user growth in the second quarter. Monetizable daily active users jumped to 186 million, a 34% increase year over year, marking the highest rate since the company began reporting the metric. Twitterdid, however, said its ad revenue tumbled 23% due to the pandemic.
Microsoft Shares of the software giant fell 4.4% after the company's forward guidance was weak relative to Wall Street's expectations. Microsoft beat estimates on the top and bottom lines for its fiscal fourth quarter, but its projection of $35.61 billion in revenue for the fourth quarter was $300 million below expectations, according to Refiniv. Oppenheimer also downgraded the stock to perform from outperform.
Las Vegas Sands, MGM Resorts Shares of Las Vegas Sands dropped 4.2% after the company reported just $98 million in revenue for the second quarter, more than $400 million below Wall Street expectations, according to Refinitiv. The loss per share was also wider than expected. Fellow casino stock MGM Resorts fell 2.7% following the news.
PulteGroup Shares of PulteGroup surged 4.7% after the home construction company reported better-than-expected quarterly result. Pulte posted an EPS of $1.29 in the second quarter, topping analyst estimates of 89 cents per share, according to FactSet. Meanwhile, its revenue also came in above expectations. The company said it's encouraged about the back half of 2020 given the strength of second quarter sales.
American Airlines Shares gained more than 3% despite the company reporting a $2.1 billion net loss for the second quarter as air travel remained depressed amid the pandemic. The airline has, however, restored more capacity than some of its competitors. "The current environment is more unpredictable and more volatile than anything we ever could have imagined," CEO Doug Parker said in a statement.
Travelers Shares of the insurance company fell nearly 3% following its weak earnings report. The company reported a loss of 20 cents per share, in line with estimates. Travelers missed on revenue, making $7.35 billion, compared to the $7.37 billion forecast by analysts.
Equifax Shares of Equifax jumped 5.1% after the company beat Wall Street expectations for its second quarter. The company reported adjusted earnings of $1.60 per share and $982.2 million of revenue. Analysts surveyed by FactSet were looking for $1.30 per share and revenue of $922.5 million. The company said that one of its Workforce Solutions segments had its best quarter in more than a decade.
Allegion Shares of the security company fell more than 8% after second-quarter revenue missed Wall Street expectations. Revenues in the U.S. were more than $15 million what analysts surveyed by FactSet were looking for. Adjusted earnings per share did come in eight cents higher than anticipated, according to FactSet.
CNBC's Yun Li, Pippa Stevens and Maggie Fitzgerald contributed to this story.
Excerpt from:
Stocks making the biggest moves midday: Whirlpool, Twitter, Microsoft, Las Vegas Sands & more - CNBC
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