Here’s a look at the companies making headlines in midday trading: Apple — Shares of the iPhone maker were up about 2% before the iPhone maker reported second-quarter results after the close. Peloton — The fitness equipment company announced Thursday that Chief Executive Barry McCarthy will resign and the company will lay off 15% of its workforce, or about 400 employees, to “align its expenses with revenue.” The company’s shares fell 13%. Peloton’s third-quarter results also missed Wall Street’s profit and revenue expectations. According to the London Stock Exchange, Qualcomm reported its latest quarterly adjusted earnings of $2.44 per share on Wednesday, which was higher than analysts’ expectations of $2.32 per share. The company’s shares rose more than 9%. Qualcomm raised the upper end of its revenue forecast for this quarter above Wall Street expectations, citing demand for smartphones that require the most advanced chips. Wayfair — Shares of Wayfair rose 13.5% after the furniture retailer beat estimates on both lines. Wayfair said it had an adjusted loss of 32 cents per share, below the 44-cent loss expected by analysts polled by London Stock Exchange Group (LSEG). Revenue was $2.73 billion, above the consensus forecast of $2.64 billion. Carvana — The used car retailer reported its best quarterly earnings report ever, sending shares soaring more than 32%. Cigna — Shares of the insurance company fell 2.5% despite first-quarter revenue and profit beating Wall Street expectations. Cigna also reiterated its previous full-year guidance. Moderna — Shares of Moderna rose more than 7% after the vaccine maker reported a smaller-than-expected first-quarter loss as it cut costs. Moderna also reiterated its full-year guidance. DoorDash — DoorDash lost 6 cents per share in the first quarter, higher than the 4 cents per share loss expected by analysts polled by LSEG, sending the food delivery service down nearly 14%. However, the company’s revenue of $2.51 billion was higher than market expectations of $2.45 billion. Etsy – Shares plunged 15% after first-quarter profit missed expectations. Etsy reported adjusted earnings of 48 cents per share, while analysts polled by LSEG expected earnings of 49 cents per share. Revenue of $646 million was in line with expectations. Zillow — Shares of Zillow fell 5% after the real estate marketplace operator issued weak guidance for the quarter. Zillow expects second-quarter revenue of $525 million to $540 million, compared with analysts’ expectations of $559.2 million, according to FactSet. eBay — Shares fell nearly 3% after the e-commerce company issued lower-than-expected second-quarter guidance. eBay said it expected revenue between $2.49 billion and $2.54 billion, while analysts polled by LSEG forecast revenue of $2.56 billion. Shake Shack – The restaurant chain rose in midday trading after first-quarter adjusted earnings of 13 cents a share, beating Wall Street expectations of 10 cents, according to analysts surveyed by LSEG More than 2%. Revenue was basically in line with expectations. Qorvo — The semiconductor stock retreated more than 14% on weaker-than-expected first-quarter profit guidance. Qorvo now expects earnings of 60 cents to 80 cents per share, while analysts polled by FactSet expected earnings of $1.27 per share. —CNBC’s Pia Singh, Tanaya Macheel, Samantha Subin, Hakyung Kim, Lisa Kailai Han and Alex Harring contributed reporting.
