A customer walks toward the entrance of a CVS Health Corp. store. in downtown Los Angeles, California, USA, Friday, October 27, 2017.
Christopher Lee | Bloomberg | Getty Images
Check out the companies making headlines in midday trading on Wednesday.
Gilead Sciences — Shares of the biopharmaceutical company rose 6.6% after quarterly revenue of $6.26 billion beat FactSet estimates of $5.86 billion. Total revenue guidance of $24.5 billion also came in better than expected.
CVS Health — Shares of the pharmaceutical giant rose 5.7% after the company beat Wall Street expectations for the second quarter earnings. It reported an 8% increase in same-store sales compared to the same period a year ago, citing customers buying 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 Refinit’s forecast of 28 cents per share for its latest quarter. Net bookings also topped estimates of $1.26 billion by $1.30 billion, thanks in part to the strength of EA’s FIFA franchise.
Starbucks — The coffee chain saw a higher margin of more than 3% after reporting better than expected quarterly results, despite a lockdown in China depending on their performance. Within the US, however, net sales rose 9% to $8.15 billion and same-store sales rose 3%.
Modern – Shares of the vaccine stock surged 16.7% after Moderna’s second-quarter results easily beat Wall Street estimates. The company reported $5.24 in earnings per share on revenue of $4.75 billion. Analysts surveyed 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 increased by more than 27% after personal finance A company posted a hit on the top and bottom linesissued strong revenue guidance for the full year and reported a 91% jump in personal loan origination volume.
Matching Group — Shares of the dating app operator fell 17% after the company reported revenue of $795 million for the second quarter, compared to StreetAccount’s estimate of $803.9 million. Match also issued weak guidance and announced the departure of Renate Nyborg, CEO of its Tinder unit.
Airbnb — Shares of Airbnb fell about 3% after the vacation rental company posted weaker than expected revenue for the second quarter. The company also reported more than 103 million nights and booking experiences, the largest quarterly number ever for the company but short of StreetAccount estimates of 106.4 million.
PayPal — The payments giant’s shares rose 9.4% following stronger than expected second quarter results and an increase in its forecast. PayPal also revealed that it has entered into an information sharing agreement with Elliott Management and announced a $15 billion buyback program.
— CNBC’s Jesse Pound and Sarah Min contributed reporting