Take a look at the companies making headlines in midday trading. Apple — Shares of Apple jumped more than 6% after the technology giant announced it would buy back $110 billion worth of stock. Apple’s revenue and profits also performed well, with second-quarter earnings per share of $1.53 and revenue of $90.75 billion. That beat analysts’ expectations for LSEG’s earnings of $1.50 per share on revenue of $90.01 billion. Block — Shares of Block rose 1% after the payment services provider reported first-quarter results that beat analysts’ expectations. Block reported adjusted earnings of 85 cents per share on revenue of $5.96 billion, beating analysts’ expectations polled by LSEG for earnings of 72 cents per share on revenue of $5.82 billion. Live Nation Entertainment — shares rose 9% as first-quarter revenue beat estimates. Management said it expects 2025 to be a strong stadium year with continued growth in concert attendance. Expedia — Shares of Expedia fell 13% after the online travel booking company lowered its full-year guidance, pointing to weakness in its vacation rental business Vrbo. Wall Street firms including Piper Sandler and BMO Capital Markets downgraded Expedia following the report. DaVita — Shares of the healthcare provider fell 4% despite reporting better-than-expected bottom-line and top-line guidance and slightly raising its earnings guidance for the year. The stock on Thursday reported first-quarter adjusted earnings of $2.38 per share on revenue of $3.07 billion, while analysts polled by FactSet expected earnings of $1.95 per share on revenue of $3.03 billion. Booking Holdings — Shares of Booking Holdings rose nearly 4% after the online travel booking company reported first-quarter results that beat analysts’ expectations, boosted by an early start to this year’s Easter holiday cycle. The company said overall consumer demand remained strong but noted risks posed by geopolitical tensions. Avidity Biosciences — Shares of Avidity Biosciences rose 3% on bullish calls from Bank of America. The company initially had a buy rating and projected a potential upside of 56% from Thursday’s closing price, citing Avidity’s strong pipeline of treatments for rare muscle diseases. Amgen — Shares of Amgen rose 12% after the biotech company beat first-quarter revenue and profit estimates. The company also announced it will continue its injectable obesity drug into Phase 3 trials. Meanwhile, shares of Novo Nordisk and Eli Lilly fell about 1% and 2%, respectively. Cloudflare — The stock plunged about 18% after it issued weak full-year guidance despite beating first-quarter adjusted profit and revenue estimates. Arista Networks — Shares of the cloud networking company rose more than 5% after Jefferies upgraded the stock to a buy rating from hold. The bank predicts Arista to be “a major beneficiary of artificial intelligence.” Fortinet — Shares of Fortinet fell 8% after the midpoint of its second-quarter revenue forecast missed analysts’ estimates. However, the company’s first-quarter performance exceeded analysts’ expectations. —CNBC’s Alex Harring, Lisa Kailai Han, Michelle Fox and Pia Singh contributed reporting
