Here’s a look at the companies making headlines in midday trading: Boeing — The aerospace giant’s shares fell 1.5% despite noting it burned through $3.9 billion in cash in the first quarter. Cash burn was lower than analysts feared. Boeing also reported an adjusted loss of $1.13 per share on revenue of $16.57 billion, higher than the adjusted loss of $1.76 per share on revenue of $16.23 billion forecast by analysts surveyed by LSEG. Tesla – Tesla plans to start production of new affordable electric car models “in early 2025, or even the end of this year,” despite the company’s first-quarter financial report being weaker than expected, CEO Elon Musk said. The company’s shares still rose 9%. The company had previously expected to start production in the second half of 2025. Old Dominion Freight Line – Freight shares fell 10% after a mixed first-quarter financial update, which showed diluted earnings of $1.34 per share, matching analysts’ expectations, according to FactSet consistent. Revenue was $1.46 billion, slightly below expectations of $1.47 billion. Hilton Worldwide Holdings — Shares of Hilton Worldwide Holdings rose 4% on strong first-quarter adjusted earnings and an increase in full-year guidance. Hilton earned $1.53 per share (excluding items) on revenue of $2.57 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $1.42 per share on revenue of $2.53 billion. Texas Instruments — Shares rose after the chipmaker reported first-quarter earnings of $1.20 a share on revenue of $3.66 billion, beating analysts’ expectations of $1.07 a share on revenue of $3.61 billion, according to LSEG. 6%. Mattel — The toy maker’s shares rose 3% after its loss per share narrowed than expected. Mattel said its first-quarter loss per share was adjusted to 5 cents, lower than the 12-cent loss expected by analysts polled by LSEG. Mattel’s revenue for the quarter was US$810 million, below consensus estimates of US$832 million. Hasbro — Shares soared about 11% after the company released its first-quarter results. Adjusted earnings per share were 61 cents, beating analysts’ expectations of 27 cents per share, according to LSEG. Revenue of $757 million topped analysts’ expectations of $739 million. Enphase Energy — The solar energy stock fell 5% after quarterly results missed expectations and a downbeat outlook for current-quarter revenue. The company earned first-quarter adjusted earnings of 35 cents per share on revenue of $263 million, according to LSEG, while analysts expected earnings of 40 cents per share on revenue of $280 million. Enphase said it expects second-quarter revenue to be between $290 million and $330 million, below the consensus forecast of $349 million. General Dynamics — The aerospace and defense company’s first-quarter profit fell short of expectations, sending shares down more than 5%. General Dynamics reported earnings of $2.88 per share, missing analysts’ expectations of $2.93 per share, according to LSEG. Biogen – The drugmaker reported adjusted earnings of $3.67 per share, above the $3.45 per share expected by analysts polled by LSEG, sending the stock up nearly 5%. According to FactSet, sales of Biogen’s Alzheimer’s drug Leqembi in the quarter were approximately $19 million, exceeding analysts’ expectations of $11 million. Seagate Technology — The data storage company reported fiscal third-quarter revenue of $1.66 billion, just shy of analysts’ forecasts of $1.68 billion, according to LSEG. Its shares fell nearly 2%, but the company posted in-line results. Expected fourth-quarter revenue guidance. Seagate reported adjusted earnings of 33 cents per share, beating Wall Street expectations of 29 cents per share and providing strong earnings guidance for its fiscal fourth quarter. —CNBC’s Jesse Pond, Alex Harlin, Michelle Fox and Lisa Han contributed reporting.
