Stocks making the biggest moves midday: Disney, Uber, Coca-Cola and more
Check out the companies making headlines in midday trading.
Coca-Cola – Shares of beverage giant rose 1% after it topped analysts’ expectations in its fourth-quarter results. Coca-Cola beat profit estimates by 4 cents per share with adjusted quarterly earnings of 45 cents per share. Revenue also topped Wall Street forecasts, according to Refinitiv.
Disney — Shares of the media giant rose nearly 4% in midday trading following its stellar quarterly report. The company reported per-share earnings 43 cents above Wall Street estimates, according to Refinitiv. The company also topped revenue expectations. Disney+ subscriptions totaled 129.8 million, higher than the forecast 125.75 million.
Uber — Shares of the ride-hailing company fell 2.1% even after its quarterly revenue beat analysts’ estimates and said it’s starting to bounce back from headwinds caused by the omicron coronavirus surge. At its investor day Thursday, Uber also said it expects to be free cash flow positive before the end of the year.
Mattel — The toy and game maker’s shares rose 8% after the company reported fourth-quarter earnings and revenue that topped analysts’ forecasts. Mattel’s results were driven in part by growth in its Barbie brand. The company also issued an upbeat 2022 outlook.
Sonos – The audio product maker saw its shares rally more than 10% after beating earnings on the top and bottom lines. Sonos said demand remains strong, although it is still being affected by supply chain issues.
Twilio — The software maker’s shares soared 7.3% after the company reported a revenue beat and bold quarterly guidance. Its fourth-quarter revenue was nearly 10% higher than analysts expected. The company also said it saw gains from its acquisitions of Segment and Zipwhip.
PepsiCo – PepsiCo shares dipped 1.8% even after the food and beverage company beat analysts’ expectations in its fourth-quarter earnings. The company warned of cost pressures as inflation persists.
Royal Caribbean – Shares of Royal Caribbean rose 1.4% after Citigroup launched coverage of the name and said it was the firm’s favorite cruise stock. Citi gave the stock a buy rating.
International Flavors & Fragrances – The ingredient company’s shares jumped more than 6% in midday trading. The action comes a day after the Wall Street Journal reported that activist investor Carl Icahn will add a new director to the company’s board.
— CNBC’s Yun Li, Maggie Fitzgerald and Tanaya Macheel contributed reporting.