Check out the companies making headlines in midday trading.
Robinhood — Shares of the newly public stock-trading app rose 24.2% in midday trading on Tuesday. Robinhood rose above its IPO price of $38 per share, to trade above $44 per share. ARK Invest’s Cathie Wood has been buying shares of HOOD since its IPO. The Menlo Park, California-based company is a “top traded stock” on Fidelity, which is generally a good proxy for individual investor interest on a given day.
Take-Two Interactive Software — The video game company’s share price dropped 7.7% after the firm issued a weak outlook and announcing delays in new releases for some of its games. Still, Take-Two Interactive’s quarterly earnings and revenue both came in above estimates, according to Refinitiv.
American Airlines – Shares of the airline company dipped more than 2%, but closed down just 0.5%, as a jump in Covid cases weighed on areas of the market that could be hit hardest by new lockdown measures. The company has also faced disruptions from inclement weather and staffing constraints. United Airlines and Delta Air Lines also traded lower on Tuesday.
Alibaba — The Chinese e-commerce giant saw its shares fall 1.4% after reporting a revenue miss. Alibaba notched revenue of $31.8 billion in the three months to the end of June, missing estimates of around $32.4 billion, according to the FactSet consensus.
Simon Property Group — Shares of the U.S. mall owner rose 2.6% after the company’s strong quarterly earnings report. Simon Property posted revenue of $1.16 billion, compared with the $1.14 billion that analysts expected, according to Refinitiv. The company said sales at its shopping malls and outlet centers bounced back to pre-pandemic levels in its latest fiscal quarter.
Royal Caribbean – Royal Caribbean shares came under pressure and slid 1.3% amid concerns about a rise in Covid cases. Last week the company said that six passengers on board one of its cruises tested positive for Covid. Norwegian Cruise and Carnival Corporation also fell on Tuesday.
Under Armour — Shares of Under Armour gained 7.5% after the athletic apparel retailer’s second-quarter earnings and sales topped analysts’ estimates. The company reported adjusted earnings of 24 cents per share on revenue of $1.35 billion. Analysts expected earnings of 6 cents per share on revenue of $1.21 billion, according to Refinitiv. Under Armour also hiked its revenue outlook.
Clorox – Clorox sunk 9.5% after the household products maker missed top and bottom line estimates for its latest quarter. Clorox reported adjusted earnings of 95 cents per share on revenue of $1.8 billion. Analysts were looking for earnings $1.35 per share on revenue of $1.92 billion, according to Refinitiv. Clorox’s sales dropped off from a year ago during the height of the pandemic when consumers stocked up on its cleaning and disinfecting products.
Eli Lilly — Shares of the pharmaceutical company rose 3.8% despite missing analyst earnings estimates in its quarterly report. Eli Lilly reported earnings of $1.87 per share, below the $1.89 per shares expected on The Street. Revenue topped estimates.
— with reporting from CNBC’s Yun Li, Hannah Miao and Pippa Stevens.
Source: Finance - cnbc.com
