Here’s a look at the companies making headlines in midday trading: SoFi Technologies — The consumer fintech company’s shares plunged about 10% on disappointing second-quarter earnings guidance. SoFi forecast adjusted revenue between $555 million and $565 million and net income between $5 million and $10 million, while analysts polled by FactSet forecast adjusted revenue of $580.8 million and net income of $13.9 million. Dollar. However, SoFi’s first-quarter earnings beat analysts’ expectations. Tesla – The electric car maker achieved a major milestone in launching fully autonomous driving technology in China, sending the company’s shares soaring 16%. Tesla said on Sunday that Chinese authorities had lifted restrictions on its cars after passing the country’s data security requirements. Domino’s Pizza — The pizza chain’s shares rose 4.5% on better-than-expected first-quarter profit. Domino’s reported earnings of $3.58 per share, compared with $3.39 expected by analysts polled by LSEG, and said its U.S. same-store sales increased year over year. PHILIPS – Shares of Philips jumped more than 29% to a two-year high after the Dutch medical device giant agreed to a $1.1 billion settlement in the United States in a personal injury case related to the recall of some sleep apnea devices. Containing parts with potential cancer risks, some of these products were recalled in 2021. AT&T — Barclays upgraded AT&T to overweight from equal weight, citing a “mismatch” between the company’s valuation and its growth prospects, sending the telecom stock up 2.8%. Roku – The TV streaming distributor’s shares rose more than 3% after Seaport Research Partners upgraded its rating to “buy” from “neutral.” Analyst David Joyce said investors have been oversold on the stock due to concerns about streaming competition, and Roku’s risk/reward looks attractive because the company should see more advertising this year. Apple — Shares of Apple rose more than 3% after Bernstein upgraded the technology stock to outperform from broad. Analyst Toni Sacconaghi said concerns about China’s recent weakness may be overdone and now may be the time for investors to “buy fear.” Southwest Airlines — Shares of the airline fell 2% after Jefferies downgraded the company to underperform from hold. The company on Thursday cited Southwest Airlines’ disappointing earnings report. It said the airline’s declining cash position left its dividend vulnerable. Dave – Shares of the financial technology company rose 9.8% after JMP initiated coverage on the financial technology company with an outperform rating. According to the company, Dave achieved financial stability after reporting profitable Adjusted EBITDA, making the company a “promising investment opportunity” as it expands its product offerings. AMC Entertainment Holdings – According to FactSet, AMC pre-announced first-quarter results. Revenue was better than expected at $951.4 million, but adjusted EBITDA was slightly disappointing at $31.6 million. The stock fell 9.7%. The company also expects second-quarter box office performance to remain under pressure from last year’s strike. Paramount Global — Shares of Paramount Global rose 3.7% after the entertainment company reports earnings after the bell on reports its board is preparing to fire CEO Bob Bakish as soon as Monday . —CNBC’s Sarah Min, Tanaya Macheel, Yun Li, Lisa Kailai Han and Michelle Fox contributed reporting.
