Check out the companies making headlines in midday trading: Apple — Shares ticked up roughly 2% ahead of the iPhone maker’s second-quarter results due after the closing bell. Peloton — Shares dropped 13% after the exercise equipment company announced Thursday that CEO Barry McCarthy will be stepping down and that the company will lay off 15% of its staff, or about 400 employees, to “bring its spending in line with its revenue.” Peloton’s fiscal third-quarter results also missed Wall Street’s earnings and revenue expectations. Qualcomm — Shares rose more than 9% after the chipmaker on Wednesday posted $2.44 per share in adjusted earnings for its latest quarter, topping analysts’ estimates of $2.32 per share, according to LSEG. The top end of Qualcomm’s revenue forecast for the current quarter was higher than the Street’s expectations, with the company citing demand for smartphones that require the most advanced chips. Wayfair — The home furniture retailer jumped 13.5% after beating expectations on both lines. Wayfair said it lost 32 cents per share on an adjusted basis, narrower than the estimate of a loss of 44 cents from analysts polled by LSEG. Revenue came in at $2.73 billion, above the consensus forecast of $2.64 billion. Carvana — Shares surged more than 32% after the used car retailer notched its best-ever quarterly earnings report. Cigna — …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading: Apple — Shares ticked up roughly 2% ahead of the iPhone maker’s second-quarter results due after the closing bell. Peloton — Shares dropped 13% after the exercise equipment company announced Thursday that CEO Barry McCarthy will be stepping down and that the company will lay off 15% of its staff, or about 400 employees, to “bring its spending in line with its revenue.” Peloton’s fiscal third-quarter results also missed Wall Street’s earnings and revenue expectations. Qualcomm — Shares rose more than 9% after the chipmaker on Wednesday posted $2.44 per share in adjusted earnings for its latest quarter, topping analysts’ estimates of $2.32 per share, according to LSEG. The top end of Qualcomm’s revenue forecast for the current quarter was higher than the Street’s expectations, with the company citing demand for smartphones that require the most advanced chips. Wayfair — The home furniture retailer jumped 13.5% after beating expectations on both lines. Wayfair said it lost 32 cents per share on an adjusted basis, narrower than the estimate of a loss of 44 cents from analysts polled by LSEG. Revenue came in at $2.73 billion, above the consensus forecast of $2.64 billion. Carvana — Shares surged more than 32% after the used car retailer notched its best-ever quarterly earnings report. Cigna — …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
