Here’s a look at the companies making headlines in midday trading: Walt Disney — The entertainment giant’s shares fell 10% after reporting fiscal second-quarter results. Walt Disney reported adjusted earnings that beat expectations and Disney+ subscriber growth was strong, but revenue was slightly lower than expected. The company also said it expects its direct-to-consumer entertainment business to post a loss this quarter. Nvidia — Shares fell about 1%. Billionaire investor Stanley Druckenmiller told CNBC’s “Squawk Box” that he slashed his stake in the chipmaker in late March, saying artificial intelligence will be a critical factor in the near-term It may be “a little overhyped”. Ferrari NV — The Italian sports car maker’s U.S.-listed shares fell nearly 5%. Ferrari’s first-quarter revenue and profit topped Wall Street forecasts, according to FactSet, but the company reiterated its previous full-year revenue and earnings-per-share guidance. Datadog — Shares fell 10% after the company announced in its earnings report that Amit Agarwal would step down as president at the end of the year. The cloud app maker reported better-than-expected first-quarter adjusted earnings and revenue, according to FactSet. Elsewhere, deferred revenue emerged and billings were in line with expectations. Lucid Group — The electric vehicle company reported a GAAP loss of 30 cents per share, sending its shares down 13%. The result was worse than FactSet’s estimate of a loss of 25 cents per share. Other electric vehicle stocks also fell, with Tesla and Li Auto falling about 3% each. Xpeng Motors fell more than 6%. Palantir Technologies — Shares of the defense technology company plunged nearly 14%. Palantir Technologies beat revenue estimates and reported adjusted earnings in line with expectations, but full-year guidance disappointed. The company said it expects revenue this year to be between $2.68 billion and $2.69 billion, below LSEG’s forecast of $2.71 billion. UBS Group AG – Shares of the U.S.-listed European bank rose nearly 7% after first-quarter results beat expectations. UBS reported earnings of 52 cents per share on revenue of $12.74 billion. Analysts polled by StreetAccount expected earnings of 18 cents per share on revenue of $11.95 billion. Rocket Lab — Shares fell nearly 4% after the company’s first-quarter revenue missed expectations. In the first quarter, the aerospace manufacturer reported revenue of $92.8 million, missing the FactSet consensus estimate of $95 million. Loss per share of 9 cents was in line with expectations. Rocket Lab has also postponed the launch of its neutron rocket to mid-2025. Peloton — CNBC reported Tuesday that private equity firms have been considering taking Peloton private, sending shares up 13%. Hims & Hers Health — Telemedicine consulting platform rose 7%. Hims & Hers Health issued second-quarter revenue guidance that beat expectations. The company forecast revenue of between $292 million and $297 million, better than the $288 million expected by analysts polled by LSEG. First-quarter results also exceeded expectations. Target – Shares of the retailer rose 1.3% on bullish calls from two analysts. Citi upgraded the stock to “buy” from “neutral” and said the stock is one of the winners in the retail sector. UBS also has a buy rating, saying the upcoming first-quarter earnings should be a positive catalyst for stocks and support the bull market. Simon Property Group — Shares of the shopping mall operator rose 4% after first-quarter revenue beat estimates. Revenue was $1.30 billion, higher than analysts’ expectations of $1.29 billion, according to LSEG. —CNBC’s Jesse Pound, Brian Evans, Alex Harring, Sarah Min, Hakyung Kim and Tanaya Macheel contributed reporting.
