Here’s a look at the companies making headlines in midday trading: Spotify Technology — Shares surged 12% after the music streaming company reported better-than-expected second-quarter earnings. Gross profit margin and operating income also exceeded expectations. Analysts said they remained cautiously optimistic despite weak monthly active user numbers, pointing to strong margin performance and the company’s focus on premium subscribers and bundled services. United Parcel Service — Shares of the package delivery company plunged more than 12% to a new 52-week low after second-quarter revenue and profit fell short of expectations. UPS reported earnings of $1.79 per share on revenue of $21.8 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $1.99 per share on revenue of $22.18 billion. The stock price is also about to have its worst day ever. MSCI — Shares of MSCI rose more than 9% after the company reported second-quarter profit that beat Wall Street expectations. MSCI reported earnings per share excluding items of $3.64 on revenue of $707.9 million. That was higher than analysts polled by FactSet expected for earnings of $3.55 per share and revenue of $696.4 million. Pentair — Shares of the water treatment company rose more than 7%, putting the stock on track for a record close. Pentair beat estimates, reporting profit of $1.22 per share, excluding items, compared with the FactSet consensus of $1.14 per share. Revenue also exceeded expectations. In addition, Pentair also raised its full-year performance guidance. NXP Semiconductors — Shares of NXP Semiconductors plunged more than 9% after the company missed second-quarter profit expectations. NXP Semiconductors reported adjusted earnings of $3.20 per share, missing the LSEG consensus estimate of $3.21 per share. However, revenue of $3.13 billion was in line with expectations. Crown Holdings — Shares of Crown Holdings rose more than 8% after the packaging company beat second-quarter profit expectations. Crown reported earnings of $1.81 per share, beating the FactSet consensus estimate of $1.59 per share. Although the company’s revenue of $3.04 billion was slightly below consensus estimates of $3.06 billion, Crown beat expectations by raising its full-year guidance. Danaher — Shares rose more than 6% after the company reported earnings of $1.72 per share, excluding items, on revenue of $5.74 billion. That was above the FactSet consensus estimate of $1.57 per share, on revenue of $5.59 billion. Chief Executive Rainer Blair said in a statement that the company was “particularly pleased with the continued positive momentum in our bioprocessing business and the strong performance of Cepheid, which we believe gained molecular testing market share again this quarter.” Inter Parfums — Shares of Parfums rose more than 6% after the fragrance maker reported record second-quarter net sales. The company also reiterated its full-year profit and revenue, noting that sales growth continued to outpace sales growth. Comcast — Shares fell 5% after the company reported mixed results. While adjusted earnings per share of $1.21 beat LSEG’s consensus estimate of $1.12 per share, second-quarter revenue of $29.69 billion fell short of expectations of $30.02 billion. Zions Bancorporation — Shares of Zions Bancorporation rose 5.8% as second-quarter profit beat Wall Street expectations. The regional bank earned $1.28 per share, beating the consensus estimate of $1.10 per share among analysts surveyed by LSEG. General Motors — Shares of General Motors fell more than 6% after the auto giant said it would further delay construction of its second U.S. electric truck factory and the Buick brand’s first electric vehicle, again slowing plans for all-electric vehicles. The reorganization of the Michigan electric truck plant has been delayed by six months, which also means that General Motors will not be able to meet its stated goal of producing 1 million electric vehicles in North America by 2025. The stock rose more than 7% after second-quarter profit beat expectations. The company reported adjusted earnings of $1.20 per share on revenue of $9.09 billion. Analysts had expected earnings of 99 cents per share on revenue of $8.46 billion, according to LSEG estimates. Sherwin-Williams — Shares of Sherwin-Williams rose more than 4% after the company reported better-than-expected second-quarter profit. Sherwin-Williams reported earnings per share excluding items of $3.70, higher than the $3.49 per share expected by analysts polled by FactSet. However, revenue came in below expectations at $6.27 billion, compared to the FactSet consensus forecast of $6.33 billion. The company also slightly raised its full-year profit guidance and forecast low-single-digit revenue growth for both the third quarter and the full year. Lockheed Martin Corp. — Shares of Lockheed Martin rose about 3% after the defense company beat earnings and revenue estimates. Lockheed Martin also raised its full-year profit and revenue forecast. —CNBC’s Alex Harring, Yun Li and Hakyung Kim contributed reporting. Revealed: Comcast owns NBCUniversal, the parent company of CNBC.
