Listed here are the businesses making headlines in noon buying and selling.
Spotify — The streaming audio inventory fell simply shy of 9% after the corporate’s month-to-month energetic customers for the primary quarter disillusioned traders. Spotify additionally lower its full yr steerage for the metric. The corporate did report a smaller-than-expected loss for the primary three months of the yr.
Shopify — Shares of the e-commerce firm popped almost 10% after Shopify reported adjusted earnings per share that have been near triple what analysts had projected. The corporate reported $2.01 in adjusted earnings per share on $989 million in income. Analysts surveyed by Refinitiv have been anticipating 74 cents per share and $865 million in income.
Microsoft — Shares of the software program large stumbled 3.3% on Wednesday regardless of Microsoft reporting beats on the top and bottom lines for its fiscal third quarter. Some Wall Road analysts pointed toward concerns about the growth of Azure, Microsoft’s cloud enterprise, as a cause for the promoting strain.
Boeing — Shares of the aircraft-maker misplaced greater than 3% after posing its sixth-straight quarterly loss. Boeing reported a lack of $1.53 per share. The corporate made $15.22 billion in income, topping estimates of $15.02 billion, in line with Refinitiv.
Pinterest – The social media firm’s inventory slid greater than 13% after Pinterest missed user growth expectations for the first quarter. Nonetheless, the corporate beat prime and backside line estimates for the interval. Pinterest earned 11 cents on $485 million in income, in comparison with forecasts of a 7-cent revenue and $474 million in income, in line with estimates from Refinitiv. Month-to-month energetic customers got here in at 478 million, wanting the anticipated 480.5 million.
Enphase Energy – Shares of the microinverter maker slid greater than 15% following the company’s first-quarter results. Enphase beat prime and backside line estimates for the interval, however steerage was mild amid ongoing semiconductor shortages. “Seeking to Q2, our cargo volumes might be constrained by semiconductor element availability,” Enphase’s CEO mentioned on the earnings name.
Amgen — The biotech firm’s share value slid greater than 7% after reporting disappointing quarterly earnings. Amgen reported adjusted EPS of $3.70 per share, whereas analysts expects EPS of $4.04 per share. Amgen made $5.9 billion in income, lacking estimates of $6.27 billion, in line with Refinitiv.
Starbucks — Shares of the espresso chain dipped greater than 3% on Wednesday after the company’s revenue for the fiscal second quarter came in lighter than expected. Starbucks reported 62 cents in adjusted earnings per share on $6.7 billion in income. Analysts surveyed by Refinitiv have been anticipated 53 cents per share and $6.eight billion in income.
Mondelez — The snack meals inventory climbed 3.5% after Mondelez beat Wall Road estimates on the highest and backside strains for its first quarter. The corporate reported adjusted earnings per share of 77 cents on $7.24 billion of income, as gross sales grew in each main market besides Latin America. Analysts surveyed by FactSet have been anticipating 69 cents in earnings per share and $7.01 billion in income.
Ralph Lauren — Shares of the posh clothes model rose shut to three% after analysis agency Cowen upgraded the stock to outperform from market carry out. Cowen mentioned in a observe that Ralph Lauren ought to see sturdy demand because the financial system reopens.
F5 Networks — The cybersecurity inventory slid greater than 9% after F5 Networks reported software program development under steerage for its fiscal second quarter. The corporate did beat projections for earnings per share and general income, in line with estimates compiled by FactSet.
—CNBC’s Maggie Fitzgerald and Pippa Stevens contributed to this story.
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