Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks on a webcast during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, May 10, 2019.
Michael Nagle | Bloomberg | Getty Images
Check out the companies making headlines in midday trading:
HP Inc. – Shares of HP rallied 11% after Xerox made a cash-and-stock offer for personal computer and printer maker. Combining the companies could save more than $2 billion in expenses, sources told CNBC’s David Faber. Shares of Xerox rose less than 1%.
Uber – Shares of ride hailing company Uber dipped 3% lower as the company’s post-IPO lockup period expired. About 1.5 billion, or an estimated 90% of Uber shares, are eligible to trade on the public markets for the first time since May, according to Renaissance Capital.
Coty — Shares of the cosmetics maker surged 14% after the company beat earnings estimates and re-affirmed its full-year guidance. Revenue came up short of expectations, however. The stock has gained 100% this year.
CVS Health — Shares of drugstore chain gained more than 4% following quarterly results that topped analyst estimates. Results were helped by strength in the company’s pharmacy benefit management unit, as well as its Aetna health insurance business.
Altice USA – Shares of Altice USA tanked nearly 20% on disappointing quarterly results and lower guidance. The cable TV provider earned 12 cents in the third quarter, missing the 15 cents estimate according to Refinitiv. The company also cut its full-year sales forecast as the cord-cutting trend accelerates.
DaVita – Shares of the healthcare company rose 11.7% after DaVita handily beat Wall Street’s expectations on both its top and bottom third-quarter results according to FactSet. DaVita raised its earnings guidance for both fiscal years 2019 and 2020, as the company continues to expand its dialysis services in the U.S. and internationally.
Diamond Energy — Shares of the exploration and production company dropped 13% following quarterly results. The company missed top and bottom line estimates, and also said that its oil production slowed.
Humana – The health care services company’s stock rose 3% after reporting third-quarter earnings of $5.03 a share, above the $4.58 a share expected according to analysts surveyed by FactSet. Humana increased its fiscal year 2020 earnings forecast to $17.75 a share from $17.60, above Wall Street’s expectation of $17.64 a share according to FactSet.
Tapestry – Shares of Tapestry dropped 5.6% the day after it reported first-quarter 2020 results. While the stock traded higher the day of its quarterly earnings, which topped analysts’ expectations, some on Wall Street told investors to look from more progress from the luxury fashion conglomerate, especially with its Kate Spade and Stuart Weitzman brands.
Plantronics – Shares plummeted a whopping 40% after the communications device manufacturer reported a quarterly earnings miss. The company posted a $1.24 earnings per share in the fiscal second quarter, falling short analysts’ expectations of $1.34 per share, according to FactSet. Its revenue also disappointed.
Match Group – Shares of the dating website company dropped nearly 4% after Match Group provided guidance for fourth-quarter and full year earnings that was below what analysts expected, according to FactSet.
– CNBC’s Yun Li, Pippa Stevens and Maggie Fitzgerald contributed to this report.