Check out the companies making headlines in midday trading.
UPS — The logistics company tumbled almost 7% after the company’s second-quarter earnings report showed that domestic revenue came up shy of estimates. UPS said the total volume of U.S. deliveries declined almost 3% year over year, while the revenue from U.S. packages in the second-quarter missed expectations, according to Street Account. The company beat on top and bottom lines, however, thanks to continued strength in e-commerce orders.
Polaris — Shares of the vehicle maker lost 5.8% despite beating consensus estimates in its quarterly earnings report and matching revenue projections. Polaris reported lower promotional costs and stronger pricing, but experienced higher costs for commodities and labor.
F5 Networks — F5 Networks shares jumped 6.2% following a third-quarter earnings beat. The technology company reported adjusted earnings of $2.76 per share, compared with analysts’ $2.46 per share estimate, according to Refinitiv. F5 Networks also posted revenue of $652 million versus Wall Street’s $638 million projection.
Moderna — Moderna is down 2% after the vaccine provider reported some of its manufacturing partners outside the U.S. are facing delays as a result of recent lab testing issues. The problem has been resolved but has slowed down its vaccine rollout in other markets.
Raytheon Technologies — Shares of the aerospace manufacturer rose 2.6% after it reported quarterly earnings of $1.03 per share, above analysts’ estimates by 10 cents per share. The company also topped analysts’ revenue estimates and raised its full-year forecast as a result of the recovery in commercial air travel.
Centene — The health care company’s stock dropped by 3% after it reported second-quarter earnings of $1.25 per share, missing analysts’ estimates. The company beat Wall Street forecasts on revenue, however, reporting $31 billion for the quarter.
Stanley Black & Decker — Stanley Black & Decker shares dipped more than 2% despite the company beating top and bottom line estimates during the second quarter. The tool maker earned $3.08 per share on an adjusted basis, which was ahead of the $2.90 analysts were expecting, according to estimates from Refinitiv. Revenue also beat estimates and the company raised its full-year outlook.
Tesla — The electric car maker erased earlier gains and fell more 1.95% even after a stellar earnings report. Tesla beat expectations on both the top and bottom lines, and passed $1 billion in quarterly net income for the first time. The stock has fallen about 10% this year after a 740% rally in 2020.
3M — The industrial stock slipped almost 1% despite 3M beating estimates on the top and bottom lines in its second-quarter report. 3M also raised its full year revenue growth forecast, but the new projections only matched analyst expectations.
— CNBC’s Pippa Stevens, Hannah Miao, Yun Li and Jesse Pound contributed reporting
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Source: Finance - cnbc.com
