Check out the companies making headlines in midday trading. D.R. Horton – Shares surged more than 12% after the company’s fiscal third-quarter results topped Wall Street expectations. The homebuilder posted earnings of $4.10 per share on revenue of $9.97 billion. Analysts polled by FactSet were expecting $3.75 per share on revenue of $9.61 billion. The company also authorized a $4 billion share repurchase program Domino’s Pizza – The pizza retail chain plummeted nearly 13% after posting mixed second-quarter results. Domino’s reported per-share earnings of $4.03, which came in above the $3.68 analysts polled by LSEG had expected. However, revenue came in at $1.1 billion, in line with estimates. The firm also reported its U.S. comparable store sales grew slightly less than forecasted. Beyond Meat – The stock fell nearly 11% after The Wall Street Journal reported , citing people familiar with the matter, that the alternative meat producer has engaged with bondholders to begin discussions about restructuring its balance sheet. Infosys – U.S.-listed shares popped more than 8% on the back of better-than-expected fiscal first-quarter numbers. The digital services company also raised its full-year revenue growth outlook. United Airlines – The airline rose 1% after it said that second-quarter profit jumped 23% due to strong travel demand. However, its third-quarter forecast disappointed. United expects adjusted earnings to range between $2.75 and $3.25 a share, below the $3.44 anticipated from analysts polled by LSEG. Discover Financial Services – Shares gained 3.5% on better-than-expected second quarter results. The bank and payments company posted $6.06 in earnings per share on $4.54 billion in revenue. Analysts polled by LSEG had forecasted $3.07 earnings per share on $4.17 billion in revenue. Warner Bros. Discovery – The stock moved nearly 5% higher following a Financial Times report that the company has weighed options to boost its share price. The company is considering options like spinning off its streaming and movie studio businesses, among others, according to those familiar with the matter. Blackstone – The stock moved up more than 1% despite the firm posting an earnings miss for the second quarter. Blackstone reported distributable earnings of 96 cents per share on segment revenue of $2.52 billion. Analysts surveyed by LSEG had estimated 98 cents earnings per share on $2.62 billion in revenue. In an earnings call with analysts, the firm expressed optimism surrounding the current real estate environment despite challenges in the office space. Cintas – Shares advanced nearly 6% following earnings results that beat expectations for the fourth quarter. Cintas posted earnings of $3.99 per share compared to the $3.79 per share that analysts polled by FactSet were expecting. Revenue for the quarter was also in line with expectations at $2.47 billion. Alaska Air Group — Shares fell more than 6% after the airline missed revenue expectations for the second quarter. Alaska Air also trimmed its full-year earnings guidance to between $3.50 and $4.50 per share. Analysts polled by FactSet had expected a profit forecast of $4.52 per share. Kinder Morgan — The stock increased about 3.5% after the company increased its dividend, overshadowing mixed quarterly results. Taiwan Semiconductor – U.S.-listed shares fell more than 2% despite the company posting better-than-expected earnings results for the second quarter. The stock is extending losses from Wednesday, when it fell about 8% after former President Donald Trump said Taiwan should pay the U.S. for defense . — CNBC’s Lisa Kailai Han and Michelle Fox contributed reporting.
Stocks making the biggest moves midday: D.R. Horton, Domino’s Pizza, Infosys and more
Related Articles
© 2024 American CEO Club. All Rights Reserved.