Stocks with the biggest gains at noon: UBER, INTC, LYFT, RIVN | Wilnesh News
Take a look at the companies making headlines in midday trading. Uber Technologies – Shares of Uber Technologies fell more than 8% after the ride-hailing giant reported mixed first-quarter results. The company’s overall revenue beat estimates, reaching $10.13 billion, while analysts expected $10.11 billion, according to LSEG. However, the company lost 32 cents per share. Analysts had forecast earnings of 23 cents per share. Reddit – Shares rose about 3% after the social media platform reported stronger-than-expected revenue and strong daily active user growth in its first report. Revenue was $243 million, higher than the $212.8 million expected by analysts polled by LSEG. Intel — Shares fell 2.8% after the chipmaker issued revised second-quarter guidance. Intel said it expects quarterly revenue to be less than $13 billion after the U.S. Commerce Department revoked China’s Huawei’s export license. Lyft – Shares of Lyft soared 5% after the ride-sharing company reported faster-than-expected first-quarter growth. Lyft reported revenue of $1.28 billion, above the FactSet estimate of $1.16 billion. Gross bookings also exceeded expectations. Shopify — Shares of Shopify plunged 19% as the company’s disappointing revenue and profit guidance for the quarter overshadowed better-than-expected results in its latest reporting period. Shopify expects annual revenue growth to hit the high double-digits, in line with Wall Street expectations but still slower than in recent quarters, according to LSEG. Electronic Arts – Video game stocks fell more than 2% after the company reported weak fourth-quarter results. EA reported adjusted earnings per share of $1.37 and net bookings of $1.67 billion. Analysts polled by FactSet expected earnings of $1.52 per share and revenue of $1.78 billion. Guidance for the current quarter was also lower than expected. Rivian Automotive – Shares of Rivian Automotive fell about 2% after the electric vehicle maker reported quarterly earnings. Rivian said it lost nearly $39,000 per vehicle delivered in the first quarter. Coupang — Shares of the South Korean e-commerce company fell 8%. First-quarter adjusted earnings were in line with expectations, while revenue was slightly above analysts’ forecasts, according to FactSet. At the same time, Coupang’s acquisition of luxury online retailer Farfetch in January led to a decline in net profit. Toast — The cloud-based restaurant management software company’s stock price rose 12% after its earnings report. According to FactSet, Toast’s first-quarter revenue was $1.08 billion, higher than analysts’ expectations of $1.04 billion. Arista Networks – Shares of Arista Networks rose 7% after the company reported better-than-expected first-quarter results. Arista reported earnings of $1.99 per share on revenue of $1.57 billion. Analysts polled by LSEG expected earnings of $1.74 per share and revenue of $1.55 billion. Tripadvisor – Shares plummeted 29%. The travel booking company announced that its special committee has not identified any potential transactions with third parties that would be in the best interests of shareholders. Dutch Bros — Shares of the coffee chain rose 11% after first-quarter results beat expectations. Dutch Bros reported adjusted earnings of 9 cents per share on revenue of $275.1 million. Analysts polled by FactSet expected earnings of just 1 cent per share on revenue of $255.6 million. Twilio – Shares of Twilio fell 6% after the cloud communications company gave disappointing second-quarter guidance. Twilio said it expects revenue to be between $1.05 billion and $1.06 billion, compared with the FactSet consensus of $1.08 billion. CONFIRMED – Shares of the buy now, pay later company fell 8% even though its fiscal third-quarter results beat Wall Street expectations. Affirm lost 43 cents per share on revenue of $576 million. Analysts polled by LSEG expected the company to lose 70 cents a share on revenue of $549 million. Match Group — Shares of Match Group fell about 5% after the dating app issued lower-than-expected second-quarter guidance. Match expects revenue to be between $850 million and $860 million. Meanwhile, analysts polled by StreetAccount forecast revenue of $882.7 million. Teva Pharmaceuticals — Shares of Teva Pharmaceuticals rose nearly 14% after the company reported better-than-expected first-quarter revenue. Revenue was $3.82 billion, compared with $3.73 billion forecast by analysts polled by FactSet. Management highlighted “strong growth” in its generics business, as well as migraine drug Ajovy and Huntington’s disease treatment Austedo. —CNBC’s Samantha Subin, Tanaya Macheel, Michelle Fox and Alex Harring contributed reporting
