Check out the companies making headlines in midday trading Wednesday.
Gilead Sciences — Shares of the biopharma company rose 6.6% after quarterly revenue of $6.26 billion smashed a FactSet estimate of $5.86 billion. Full-year revenue guidance of $24.5 billion also came in better than expected.
CVS Health — The pharmacy giant’s shares rose 5.7% after the company beat Wall Street’s expectations for the second-quarter earnings. It also posted a same-store sales increase of 8% compared with the same period a year ago, citing customer purchases of at-home Covid test kits and cough, cold and flu medications.
Electronic Arts — The video game company rose 4% after it reported adjusted earnings of 47 cents per share, beating a Refinitv forecast of 28 cents per share for its most recent quarter. Net bookings of $1.30 billion also beat estimates of $1.26 billion, thanks in part to strength in the EA’s FIFA franchise.
Charles River Laboratories — Shares dropped 9.2% after the pharmaceutical company reduced full-year guidance, citing a stronger dollar and rising interest rates.
Starbucks — The coffee chain saw shares edge higher by more than 3% after it reported better-than-expected quarterly results, despite lockdowns in China weighing on its performance. Within the U.S., however, net sales rose 9% to $8.15 billion and same-store sales grew 3%.
Moderna — Shares of the vaccine stock jumped 16.7% after Moderna’s second-quarter results easily topped Wall Street estimates. The company reported $5.24 in earnings per share on $4.75 billion of revenue. Analysts surveyed by Refinitiv were expecting $4.55 in earnings per share and $4.07 billion of revenue. Moderna also announced a $3 billion share buyback program.
SoFi Technologies — Shares soared more than 27% after the personal finance company posted a beat on the top and bottom lines, issued strong full-year revenue guidance and reported a 91% jump in personal loan origination volume.
Match Group — Shares of the dating app operator tumbled 17% after the company reported revenue of $795 million for the second quarter, compared with a StreetAccount estimate of $803.9 million. Match also issued weak guidance and announced the departure of Renate Nyborg, CEO of its Tinder unit.
Airbnb — Shares of Airbnb slipped about 3% after the vacation home rental company posted weaker-than-expected revenue for the second quarter. The company also reported more than 103 million booked nights and experiences, the largest quarterly number ever for the company but short of StreetAccount estimates of 106.4 million.
PayPal — The payments giant’s shares soared 9.4% following stronger-than-expected second-quarter results and an increase in its forecast. PayPal also revealed it has entered into an information-sharing agreement with Elliott Management and announced a $15 billion share buyback program.
— CNBC’s Jesse Pound and Sarah Min contributed reporting