Check out the companies making headlines in midday trading.
Netflix — Shares of the streaming company popped 7.4% a day after Netflix posted a smaller-than-expected subscriber loss in the recent quarter. Netflix reported a beat on earnings but a miss on revenue.
Casino stocks — Shares of Las Vegas Sands and Wynn Resorts rose 4.4% and 4%, respectively. The action followed a report from Reuters that Macau will reopen casinos on Saturday as it gradually eases back on Covid restrictions.
Bath & Body Works — Bath & Body Works’ shares slipped more than 1% after the personal care retailer trimmed its guidance for the second quarter and full year. The company cited macroeconomic issues among the reason for the cut.
Baker Hughes — Shares plunged more than 8% after the oilfield services company reported disappointing second-quarter earnings. Baker Hughes reported earnings of 11 cents per share, which is half of what analysts were expecting, according to consensus estimates from Refinitiv.
Biogen — Shares of the biopharmaceutical company fell 5.8% despite the company reporting a beat on quarterly earnings and revenue. Biogen said it faces increasing generic and biosimilar competition for its Tecfidera and Rituxan drugs.
Merck — Merck shares slipped 2.9% after the company’s cancer therapy drug did not meet its goal in a late-stage trial in patients with head and neck cancer.
Nasdaq — Shares of the exchange operator jumped 6.1% on the back of an earnings beat on the top and bottom lines. Nasdaq reported earnings of $2.07 per share on revenue of $893 million.
J.B. Hunt Transport Services — Shares of J.B. Hunt dipped about 0.8% despite a stronger-than-expected report for the recent quarter. The company’s chief operating officer said that the labor and equipment markets remain “challenging.” The transportation company reported $2.42 in earnings per share on $3.84 billion of revenue. Analysts surveyed by Refinitiv had penciled in $2.35 in earnings per share on $3.60 billion of revenue.
Elevance Health — Elevance shares tumbled 7.6% despite a beat on earnings and revenue in the recent quarter. The company, formerly known as Anthem, also raised its full-year guidance.
— CNBC’s Tanaya Macheel, Sarah Min and Jesse Pound contributed reporting
Source: Finance - cnbc.com
