Gilead Sciences, CVS, Electronic Arts and more
A customer walks to the entrance of a CVS Health Corp store. in downtown Los Angeles, California, U.S. on Friday, October 27, 2017.
Christopher Lee | Bloomberg | Getty Images
Check out the companies making headlines on Wednesday at noon.
Gilead Sciences – Shares of the biopharmaceutical company rose 6.6% after quarterly revenue of $6.26 billion smashed a FactSet estimate of $5.86 billion. The full-year revenue forecast of $24.5 billion was also better than expected.
CVS Health – Shares of the pharmaceutical giant rose 5.7% after the company beat Wall Street expectations for second-quarter earnings. It also recorded an 8% increase in same-store sales from the same period a year ago, citing customer purchases of at-home Covid test kits and cough, cold and flu medicines. .
Electronic Arts – The video game company rose 4% after reporting adjusted earnings of 47 cents per share, beating Refinitv’s forecast of 28 cents per share for its latest quarter. Net bookings of $1.30 billion also beat estimates of $1.26 billion, thanks in part to the strength of EA’s FIFA franchise.
Charles River Laboratories – Shares fell 9.2% after the pharmaceutical company cut its full-year forecast, citing a stronger dollar and rising interest rates.
Starbucks – The coffee chain saw its shares rise more than 3% after posting better-than-expected quarterly results, despite lockdowns in China weighing on its performance. In the United States, however, net sales increased 9% to $8.15 billion and comparable store sales increased 3%.
Moderna – Shares of the vaccine stock jumped 16.7% after Moderna’s second-quarter results easily beat Wall Street estimates. The company reported earnings per share of $5.24 on revenue of $4.75 billion. Analysts polled by Refinitiv had expected $4.55 in earnings per share and $4.07 billion in revenue. Moderna also announced a $3 billion share buyback program.
SoFi Technologies – Shares soared more than 27% after the personal finance company posted higher and lower pace, released strong full-year revenue guidance and reported a 91% increase in origination volume. personal loans.
Match Group – Shares in the dating app operator fell 17% after the company reported second-quarter revenue of $795 million, against StreetAccount’s estimate of $803.9 million of dollars. Match also released a weak forecast and announced the departure of Renate Nyborg, CEO of its Tinder unit.
Airbnb – Airbnb shares fell about 3% after the vacation home rental company reported weaker-than-expected second-quarter revenue. The company also reported more than 103 million nights and experiences booked, the highest quarterly number ever for the company, but below StreetAccount estimates of 106.4 million.
PayPal – Shares of the payments giant soared 9.4% after stronger-than-expected second-quarter results and an increase in its guidance. PayPal also disclosed that 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