Stock Market

In this article

Customers wait outside of a Chipotle restaurant as they wait to enter in order to place an order as Florida continues with its Phase 1 of reopening the state during the Coronavirus (COVID-19) pandemic on May 19, 2020, in Aventura, FL.
Icon Sportswire | Getty Images

Check out the companies making headlines in midday trading.

Chipotle Mexican Grill — Shares of the fast-food chain surged 11% after beating on the top and bottom lines of its quarterly results. Chipotle reported earnings of $7.46 on revenue of $1.89 billion. Analysts expected earnings of $6.52 on revenue of $1.88 billion, according to Refinitiv. Revenue surpassed pre-pandemic levels as dine-in customers returned to its restaurants.

Netflix — The streaming platform’s share price slipped more than 3% after Netflix reported disappointing earnings and third-quarter subscriber guidance. Netflix earned $2.97 per share, below estimates of $3.16 per share, according to Refinitiv. The company said it expects 3.5 million net subscribers in the third quarter, nearly 2 million below analysts’ estimates.

Verizon Communications — Shares of Verizon gained 1.3% after the company reported better-than-expected second-quarter earnings. The telecommunications company earned an adjusted $1.37 per share on revenues of $33.76 billion in the second quarter. Analysts were expecting $1.30 adjusted earnings per share on revenues of $32.74 billion, according to Refinitiv.

Coca-Cola — Shares of the beverage maker rose about 1.3% in midday trading after the company reported second-quarter earnings of 68 cents per share, beating forecasts by 12 cents per share, according to Refinitiv. Its revenue topped pre-pandemic levels, and Coca-Cola also raised its full-year forecast.

United Airlines — The airline stock climbed 3.9% after the carrier reported higher-than-expected second-quarter revenue, thanks to a resurgence in air travel. United’s revenue beat forecasts by quadrupling compared to a year earlier amid a surge in bookings. The airline expects the trend to continue despite the fast-spreading delta variant. United reported a loss of $3.91, in line with expectations per Refinitiv.

Harley-Davidson — Harley-Davidson shares sunk more than 7% after mixed second-quarter earnings results. The motorcycle maker’s quarterly earnings of $1.33 per share came in 16 cents above Wall Street estimates, according to Refinitiv. However, the company’s second-quarter revenue fell short of analysts’ projections.

Sunnova and Sunrun — Shares of Sunnova and Sunrun added 4% and 5.2%, respectively, after JPMorgan named the two solar companies as top picks. “We highlight Overweight-rated Sunnova (NOVA) and Sunrun (RUN) as top picks for 2H21 owing to elevated inventory levels, which should position both companies relatively better to meet expected demand near-term,” the bank said in a note.

Halliburton — The energy stock jumped more than 5% on Wednesday after Goldman Sachs upgraded Halliburton to buy from neutral. Goldman also said that it expected Halliburton to hike its dividend as early as next year.

RealReal — Shares of the online consignment retailer rose more than 5% after Bank of America upgraded the stock to buy from neutral. The firm said in a note that RealReal was hit harder by the pandemic than other e-commerce stocks and could now be in line for an expansion in its valuation multiple.

— CNBC’s Maggie Fitzgerald, Jesse Pound, Tanaya Macheel and Yun Li contributed reporting

Become a smarter investor with CNBC Pro
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. 
Sign up to start a free trial today

Articles You May Like

Berkshire shares slip after hitting all-time high on big profit gain
Jeremy Hunt lines up personal tax cuts for the Budget
Head of Oklahoma Turnpike Authority resigns in wake of legal opinion
New Jersey budget plan calls for more transit aid, pension payments
First Solar jumps on strong quarter, record backlog in rare bright spot for beaten-down renewable sector