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 11.5% 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 3.3% 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 0.7% 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% 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 3.8% 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 7.2% 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 3.9% and 4.9%, 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 3.5% 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 about 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
- "
- 11
- 2020
- 7
- 9
- access
- air travel
- airline
- america
- analyst
- Bank
- BEVERAGE
- Biggest
- Billion
- buy
- CNBC
- coca-cola
- Companies
- company
- continue
- continues
- contributed
- Coronavirus
- COVID-19
- Customers
- Delta
- Demand
- dividend
- e-commerce
- Early
- Earnings
- energy
- estimates
- Exclusive
- expansion
- expects
- Firm
- florida
- goldman
- Group
- Headlines
- Highlight
- HTTPS
- Interviews
- inventory
- investor
- IT
- Line
- maker
- Making
- million
- mixed
- moves
- net
- Netflix
- online
- order
- Other
- pandemic
- platform
- price
- refinitiv
- restaurant
- Restaurants
- Results
- retailer
- revenue
- Run
- Share
- Shares
- Short
- solar
- start
- State
- stock
- Stocks
- streaming
- street
- surge
- telecommunications
- top
- Trading
- travel
- trial
- tv
- United
- Valuation
- Verizon
- wait
- Wall Street
- year