Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida.
Check out the companies making headlines in midday trading.
Coca-Cola — Shares of Coca-Cola gained 1.9% after the beverage giant's quarterly results beat on both top and bottom lines. Coca-Cola reported adjusted earnings of 65 cents per share, 7 cents higher than the Refinitiv consensus estimate. The company also hiked its full-year forecast.
McDonald's — McDonald's shares ran up 2.7% after the fast-food chain beat earnings estimates. The company reported adjusted quarterly earnings of $2.76 per share, compared with the anticipated $2.46 per share. Higher prices and new menu items helped boost the company's revenue.
Boeing — Shares of Boeing dipped 1.5% after a wider-than-expected quarterly loss. The aircraft maker posted an adjusted quarterly loss of 60 cents per share, compared with 20 cents per share expected. Revenue also missed expectations.
General Motors — GM shares fell 5.4% despite an earnings beat. The automaker posted profit of $1.52 per share on revenue of $26.78 billion, while Wall Street expected earnings of 96 cents per share on revenue of $26.51 billion.
Harley-Davidson — Shares of the motorcycle manufacturer jumped 3.6% after it reported its quarterly results. The company reported $1.18 per share in adjusted diluted earnings per share, compared to analysts' estimate of 77 cents per share, according to FactSet. Harley also topped revenue forecasts.
Spotify — Spotify shares rose 8.3% after the audio streaming service posted a wider-than-expected quarterly loss, but revenue and user growth topped estimates. The company said its podcast segment boosted revenue.
Money Report
Microsoft — Shares of the tech giant popped 4.2% following a stronger-than-expected quarterly report. Microsoft reported adjusted earnings of $2.27 per share for its fiscal first quarter, exceeding analysts' estimates of $2.07 per share, according to Refinitiv. Total company revenue climbed almost 22% year over year, marking the fastest growth since 2018.
Alphabet — Shares of Alphabet gained 5% after the Google-parent company beat on earnings. Alphabet reported earnings of $27.99 per share, compared with $23.48 expected, according to Refinitiv. Management said Apple's privacy features only had a "modest impact" on YouTube revenues.
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Twitter — Shares of Twitter fell 10.8% despite the company's third-quarter report, which met analysts' expectations for revenue and user growth. Twitter also said Apple's privacy changes had less of an impact than expected. However, the company said expenses, such as investing in head count growth, will bleed into 2022.
Robinhood — Shares of the brokerage slipped 10.4% after Robinhood reported a top and bottom line miss for its third-quarter earnings and delivered a bleak outlook for the current quarter. Revenue was dragged down by a slowdown in crypto trading and Robinhood warned that the headwinds in trading will persist into year-end. The stocks is now trading below its IPO price of $38 per share.
Visa — The payments giant saw shares fall 6.9% after it issued a conservative revenue outlook during as part of its quarterly earnings report. Visa brought in $1.62 per share, beating expectations by 8 cents. It also exceeded revenue expectations, thanks to an increase in online and travel spending.
Enphase Energy — Shares of the solar company surged 24.7% after Enphase reported record revenue during the third quarter. The microinverter maker posted sales of $351.5 million during the period, which was up 11% quarter over quarter. Enphase also issued upbeat guidance for the current quarter.
Six Flags — Shares of Six Flags dropped 8.4% after the company's quarterly results bested expectations. Six Flags reported earnings of $1.80 per share on revenue of $638 million, while analysts surveyed by Refinitiv expected earnings of $1.55 per share on revenue of $587 million.
F5 Networks — F5 Networks shares added 5.9% after a solid earnings report. The company reported adjusted earnings of $3.01 per share on revenue of $682 million. Analysts surveyed by StreetAccount expected earnings of $2.75 on revenue of $672 million.
Fiserv — Fiserv shares sank 10% after the company beat earnings-per-share expectations by just 2 cents and revenue came in as expected, according to StreetAccount.
— CNBC's Tanaya Macheel, Yun Li, Maggie Fitzgerald, Pippa Stevens contributed reporting
