Here’s a look at the companies making headlines in midday trading: Lamb Weston — The potato and french fries company’s shares fell 27% after releasing a disappointing fiscal fourth-quarter report. Lamb Weston had revenue of $1.61 billion and adjusted earnings per share of 78 cents. Wall Street analysts expected revenue of $1.7 billion and earnings of $1.26 per share, according to FactSet. Lamb Weston also said it expected the new financial year to be “challenging.” Tesla — The electric car maker reported weaker-than-expected second-quarter profits, sending its shares down more than 10%. Tesla did beat revenue expectations, however, with revenue of $25.5 billion versus the consensus estimate of $24.77 billion, according to LSEG. Shares of electric vehicle rivals Rivian Automotive and Lucid also fell, falling more than 6% and nearly 4% respectively. Enphase Energy — Shares of the solar company surged about 11% after the company issued stronger-than-expected third-quarter guidance. Enphase expected revenue between $370 million and $410 million, while analysts polled by LSEG expected revenue of $404 million. Seagate Technology — Shares of Seagate Technology rose about 5% after the computer hardware company reported fourth-quarter results that beat Wall Street expectations. The company reported adjusted earnings of $1.05 per share on revenue of $1.89 billion. That was higher than the 75 cents a share and revenue of $1.87 billion expected by analysts polled by LSEG. Vertiv Holdings — Shares of Vertiv Holdings fell more than 10% even after the IT infrastructure company reported better-than-expected second-quarter earnings. Vertiv reported earnings of 67 cents per share, beating the FactSet consensus estimate of 57 cents per share. Revenue met consensus estimates of $1.95 billion. Alphabet — Google’s parent company reported disappointing second-quarter results showing disappointing YouTube ad revenue, sending its shares down more than 4%. Alphabet’s advertising revenue on YouTube was $8.66 billion, compared with estimates of $8.93 billion, according to StreetAccount. Visa — Shares of Visa fell 4% after the company reported fiscal third-quarter revenue that missed expectations. Visa reported revenue of $8.9 billion, slightly below the $8.92 billion forecast by analysts surveyed by LSEG. Meanwhile, payment volume increased 7% in the quarter. AT&T — Shares of the telecommunications giant rose 5% after reporting that it added 419,000 wireless phone customers on monthly bills, well above the consensus forecast among analysts polled by FactSet. AT&T reported quarterly earnings per share that were in line with analysts’ expectations polled by LSEG, while revenue fell short of Wall Street expectations. General Dynamics — Shares of General Dynamics fell 4% after the global aerospace and defense company reported second-quarter earnings that missed expectations. The company reported earnings of $3.26 per share, missing the FactSet consensus estimate of $3.28 per share. Revenue, on the other hand, topped expectations, reaching $11.98 billion, compared with the consensus estimate of $11.46 billion. Boston Scientific — Shares of Boston Scientific fell nearly 2% after the medical device company reported second-quarter results that beat Wall Street expectations. Boston Scientific reported adjusted earnings of 62 cents per share on revenue of $4.12 billion. That was higher than the 58 cents a share and revenue of $4.02 billion expected by analysts polled by FactSet. Amphenol — Shares of the electronic connector maker fell 5%. Amphenol’s third-quarter guidance was broadly in line with analysts’ expectations, predicting adjusted earnings of 43 cents to 45 cents per share, compared with analysts’ expectations of 44 cents per share, according to FactSet. CoStar Group — Real estate data analytics company shares rose more than 8%. CoStar raised its full-year adjusted profit guidance to 64 cents to 66 cents per share, up from its previous forecast of 58 cents to 62 cents per share. Analysts polled by FactSet expected shares of 62 cents per share. —CNBC’s Alex Harring, Yun Li, Hakyung Kim, Jesse Pound and Sarah Min contributed reporting.
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