Check out the companies making headlines in midday trading. Starbucks – Shares rose 9.5% after the company posted a rise in profit and revenue in its fiscal fourth quarter. Management also reported better-than-expected performance in China, the second-largest market. Roku – The streaming video platform rose 30.7% following its latest quarterly announcement. The company’s third-quarter revenue and fourth-quarter guidance came in above analysts’ expectations. According to LSEG, formerly known as Refinitiv, Roku reported revenue of $912 million, versus Wall Street’s forecast of $855 million. SolarEdge – Solar shares fell 4% a day after SolarEdge reported disappointing third-quarter results and lowered its outlook for current-quarter revenue. The company was downgraded by several firms, including Truist, BMO Capital Markets and Guggenheim, on Thursday based on its earnings. Shopify – Shares of the e-commerce company rose 22.4% after Shopify beat on sales and profit in the third quarter. Shopify, which makes tools for businesses to sell products online, also gave bullish forecasts for the rest of the year. The stellar earnings report came after Shopify increased its focus on costs. Palantir – Shares rose 20.4% after the company’s third-quarter results beat estimates on strong demand for its artificial intelligence offerings. Palantir also raised its full-year revenue forecast to $2.216 billion to $2.22 billion. Moderna – Shares of the drugmaker plunged 6.5% after Moderna posted a sharp third-quarter profit loss due to declining demand for its Covid vaccine. The company said it took a large write-down due to unused vaccines. eleven Beauty – The cosmetics company rose 3.7% daily after beating expectations for the second fiscal quarter of analysts surveyed by LSEG. The company also raised its full-year outlook for the second quarter in a row. Eli Lilly – Shares of the drugmaker rose 4.7% after the company reported third-quarter revenue and adjusted profit that beat estimates on strong demand for its diabetes drug Mounjaro. However, the company lowered its full-year profit forecast due to charges primarily related to recent acquisitions. Clorox – Shares rose more than 6.6% on Thursday after the company reported a rise in profit and sales in its fiscal first quarter. Although management lowered its profit and overall margin guidance for fiscal 2024, it said there were no structural issues related to the cyberattack earlier in the year. Penn Entertainment – Shares of the sports betting and casino company rose 14% after the company reported third-quarter earnings. The rally came even after Penn posted a loss of $4.80 per share. Morgan Stanley said the core margin surplus was enough to spark a recovery rally, and investors shifted their focus to the digital launch at ESPN later this month. Affirm Holdings – The digital payments platform rose 19.5% after news that Amazon would expand its partnership with Affirm to include Amazon Business. Marriott International – Shares fell 1.6% after the company gave weak fourth-quarter profit guidance. Third-quarter earnings met estimates, while sales beat analysts’ expectations. CyberArk Software – The software solutions company rose 7.3% after posting a rise in revenue and profit in the third quarter. CyberArk’s profit forecast for the fourth quarter and full year was also above analysts’ estimates. Crocs – The footwear company fell 5.3% despite better-than-expected third-quarter results. Management lowered the company’s full-year profit, revenue and operating margin forecast. Rockwell Automation – Rockwell Automation fell 3.1% after issuing a weak full-year outlook. For the fiscal year ending September 2024, the industrial automation company forecast adjusted earnings per share in the range of $12 to $13.50, compared to the FactSet consensus estimate of $13.21 earnings per share. Sales were forecast to grow in the range of 0.5% to 6.5% year over year, while an increase of 6.4% was forecast. Otherwise, the company beat earnings and revenue expectations for the fiscal fourth quarter. Papa John’s International – The pizza chain fell more than 3.5% to hit a new 52-week low after missing both profit and sales in the third quarter. Due to “the dynamic geopolitical environment,” Papa John’s reduced its development expectations for North America in 2023 from 260 to 245 new units. — CNBC’s Sarah Min, Yun Li, Michelle Fox, Pia Singh and Alex Harring contributed reporting.
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