Disney, Airbnb, Honest Company and more
Check out the companies making headlines in midday trading.
Disney — Shares of the media giant jumped 1.8%, becoming the biggest gainer in the 30-stock Dow Jones Industrial Average following a blowout earnings report. Disney crushed Wall Street expectations on Disney+ subscriber growth and overall revenue and earnings for the fiscal third quarter.
The Honest Company — The Honest Company’s shares sunk 26% after the baby and beauty product business reported worse-than-expected second-quarter financial results. The company, founded by Jessica Alba, reported a loss of 17 cents per share on revenue of $74.6 million. Wall Street expected a loss of 14 cents per share on $78.8 million, according to Refinitiv.
Airbnb — Shares of Airbnb fell about 1% after the vacation rental company said it expects volatility ahead due to the Covid delta variant. Airbnb reported revenue of $1.34 billion in the second quarter, up nearly 300% from the year prior. Wall Street expected revenue of $1.26 billion, according to Refinitiv.
23andMe — Shares of 23andMe fell more than 5% after the genetic research company reported revenue of $59 million in its first quarter as a public company. The quarterly revenue is 23% higher than a year prior.
SoFi — The fintech company’s shares fell over 13% in midday trading after it released quarterly results Thursday. SoFi recorded a loss of 48 cents per share for the second quarter, greater than analysts’ forecasts of a 6 cents per share loss. It also beat revenue estimates, however, and reported membership more than doubled from the previous year.
ZipRecruiter — ZipRecruiter shares dropped more than 5% after posting a wider-than-expected quarterly loss. The online employment marketplace posted a quarterly loss of 55 cents per share, compared with a consensus estimate of a 22 cents per share loss, according to Refinitiv.
Rocket Companies — Rocket shares gained 10% despite the online mortgage platform operator’s quarterly earnings missing on the top and bottom lines. The company said it expects 2021 mortgage origination closed loan volume to exceed 2020’s record performance of $320 billion.
Advanced Micro Devices — Shares of Advanced Micro Devices added more than 3% after Bank of America reiterated its buy rating on the stock and said the stock could see 25% upside. “We see strong catch-up potential despite the strongest upward EPS revisions in semis,” the firm said.
eBay — The e-commerce stock rose about 5.5%, extending its rise since Wednesday’s earnings beat. Argus Research reiterated its buy rating on the stock on Friday, saying in a note to clients that the stock looks attractively priced even as it faces tough comparisons in the upcoming quarter.
— CNBC’s Tanaya Macheel, Yun Li and Jesse Pound contributed reporting.
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