Try the businesses making headlines in noon buying and selling.
Moderna — Moderna shares tumbled 19% after a weaker-than-expected quarterly report. The drug maker reduce its Covid-19 vaccine gross sales forecast for the 12 months and missed third-quarter earnings and income expectations. Moderna earned $7.70 per share for its newest quarter versus the $9.05 Refinitiv consensus estimate.
Penn Nationwide Gaming — Shares of Penn Nationwide Gaming sank about 20% after issuing quarterly outcomes. The corporate reported adjusted EBITDAR (earnings earlier than curiosity, taxes, depreciation, amortization, and restructuring or hire prices) of $480.3 million versus the StreetAccount consensus estimate of $537.8 million. Penn administration stated the third quarter was affected by Hurricane Ida and flare-ups of the delta Covid variant.
Nvidia — Shares of Nvidia rallied 12% after Wells Fargo raised its value goal on the inventory to a Avenue excessive of $320 per share from $245, citing a bullish outlook on the corporate’s Omniverse. “We see NVIDIA Omniverse as a key enabler/platform for the development of the Metaverse across a wide range of vertical apps,” analysts stated.
Etsy — The web crafts market’s shares surged 14% after reporting third-quarter earnings that beat analysts’ expectations. Etsy recorded a revenue of 62 cents per share, beating StreetAccount’s consensus estimate of 55 cents.
Qualcomm — Shares of the chipmaker popped more than 12% after a better-than-expected earnings report. The corporate reported its fiscal fourth-quarter earnings and income that exceeded analysts’ expectations. Qualcomm reported a 56% year-over-year increase in smartphone chip gross sales regardless of a worldwide chip scarcity.
Planet Health — Shares of Planet Health rose 12% after the health middle chain beat on the highest and backside strains. The corporate posted adjusted earnings of 25 cents per share versus the StreetAccount consensus of 18 cents per share. Planet Health additionally raised its full-year income forecast.
Roku — Roku shares slid 8.3% after a weaker-than-expected quarterly income report. The streaming firm posted income of $680 million, whereas Refinitiv forecast $683.4 million. Roku additionally issued a fourth-quarter income forecast beneath expectations.
Lumen Applied sciences — Lumen shares gained 12% after the telecommunications firm posted better-than-expected quarterly outcomes for per-share earnings. The corporate report an adjusted revenue of 49 cents per share versus the StreetAccount consensus estimate of 38 cents per share.
Qorvo — The semiconductor inventory fell 14% after the corporate’s gross sales steerage got here in properly beneath expectations. Financial institution of America downgraded the inventory to impartial from purchase, saying that the increase to Qorvo’s income from 5G was slowing, probably creating a big lower in income development within the years forward.
Take-Two Interactive — Take-Two shares added 2.6% after the online game firm’s quarterly income beat expectations. The corporate posted income of $984.9 million, versus the Refinitiv consensus of $867.5 million. Take-Two additionally raised its outlook.
Digital Arts — Shares of Digital Arts gained 2.7% after the online game maker beat Wall Avenue’s quarterly earnings expectations. The online game maker additionally topped income expectations and hiked its full-year outlook.
ViacomCBS — ViacomCBS shares fell 3.6% regardless of the media firm’s better-than-expected income report. The corporate posted income of $6.61 billion versus the StreetAccount consensus of $6.56 billion. ViacomCBS’s earnings outcomes have been consistent with estimates.
Wayfair — Shares of Wayfair slid 4.7% after the web house items vendor reported lower-than-expected income. Wayfair did beat the StreetAccount earnings-per-share consensus. The corporate stated shoppers are trending more towards brick-and-mortar shops as Covid restrictions ease.
MGM Resorts — Shares of MGM fell more than 2% after it introduced it’ll promote the operations of its Mirage on line casino in Las Vegas. Bloomberg first reported the information. No gross sales settlement has been reached, MGM stated, and the corporate did not disclose the names of potential patrons.
Capri Holdings — Shares of the style model firm climbed more than 5% after Capri beat estimates on the highest and backside strains for its second quarter. The Versace father or mother firm additionally hiked its full-year steerage for earnings and gross sales. JPMorgan upgraded the inventory to chubby from impartial after the report, saying the corporate was displaying power throughout a number of manufacturers.
SunPower — Shares of the residential photo voltaic firm slid more than 1% after SunPower missed income expectations in the course of the third quarter. The corporate’s gross sales stood at $324 million for the interval, wanting the $333 million analysts surveyed by Refinitiv have been anticipating. SunPower lately introduced a restructuring aimed toward doubling down on the residential photo voltaic market.
— CNBC’s Tanaya Macheel, Jesse Pound, Yun Li and Pippa Stevens contributed reporting