Stocks That Make The Biggest Moves At Noon: Etsy, Virgin Galactic, Foot Locker & More
Chad Dickerson, CEO of Etsy, and others will celebrate her IPO on the Nasdaq Stock Exchange on April 16, 2015.
Check out the companies that are making the headlines in midday trading.
Etsy – The e-commerce company’s shares fell nearly 13% on Friday after hitting the income statement for quarterly results. Etsy earned $ 1.08 per share last quarter, well above the consensus estimate of 59 cents. In the online craft market, revenue also exceeded Wall Street forecasts. “2020 was a turning point in history for both e-commerce and Etsy,” the company said in a statement.
Beyond Meat – The alternative meat producer’s shares rose more than 2% after the company signed a three-year contract as the preferred supplier for McDonald’s plant-based McPlant burger. Beyond Meat also secured an exclusive supply agreement with Taco Bell’s parent company, Yum Brands.
Apple, Facebook, Microsoft – Big Tech stocks lifted the broader market higher as they rebounded from heavy losses in the previous session amid rising bond yields. Apple and Microsoft shares each gained more than 2%, while Facebook rose 3.7%. Amazon and Alphabet also rose more than 1%.
Virgin Galactic – The commercial space company’s shares fell 11% after it was announced that the next space test would be postponed to May and the start of passengers postponed to early 2022. Virgin Galactic had already attempted the space test on February 13, but had to delay it until May due to further correction work. The space tourism company posted an adjusted EBITDA loss of $ 59.5 million, compared to a loss of $ 66 million in the previous quarter.
Rocket Companies – The parent company of Quicken Loans rallied roughly 13% in midday trading after posting $ 1.09 per share earnings in the fourth quarter, compared to a consensus estimate of 87 cents per share. Sales also exceeded forecasts. Rocket closed a year in record mortgage volume and announced it will pay a special dividend of $ 1.11 per share.
DraftKings – The online sports game company’s stocks rose nearly 7% around noon after both posted stronger-than-expected quarterly sales and raised their full-year sales guidance. According to DraftKings, thanks to marketing campaigns and continued legalization of sports games, users are accessing their platforms more often.
Airbnb – The landlord’s shares rose more than 14% after Airbnb released its first quarterly update as a publicly traded company. Airbnb posted a loss of $ 3.89 billion despite revenue exceeding expectations. Refinitiv estimates sales were $ 859 million versus $ 748 million expected on Wall Street.
DoorDash – Shares in the grocery delivery service were down more than 1% after the company’s quarterly results. DoorDash had sales of $ 970 million, above the Street consensus estimate of $ 938 million, according to a Refinitiv poll of analysts. The quarterly report was the company’s first since DoorDash went public in December.
Foot Locker – The shoe retailer’s shares fell more than 6% on Friday after the company’s fourth fiscal quarter sales fell below expectations. Foot Locker’s like-for-like store sales decreased more than 2% compared to the same period last year. The company’s earnings per share have exceeded expectations, according to Refinitiv estimates.
Salesforce – The software giant saw its share price fall more than 4%, despite beating expectations for the fourth quarter in the upper and lower ranges. The company reported adjusted earnings per share of $ 1.04 on revenue of $ 5.82 billion. Analysts polled by Refinitiv had estimated 75 cents per share and a turnover of 5.68 billion US dollars. The company announced that adjusted operating margin for the quarter was 17.5%, slightly below the full year average.
– CNBC’s Pippa Stevens, Jesse Pound, Maggie Fitzgerald and Yun Li contributed to the coverage.
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