Here’s a look at the companies making headlines in midday trading: Ford Motor Co. – The automaker’s shares fell more than 17% after the automaker reported second-quarter profit that missed Wall Street expectations. Ford reported adjusted earnings of 47 cents per share, compared with the consensus forecast of 68 cents, according to LSEG. However, automotive revenue of $44.81 billion topped the consensus estimate of $44.02 billion. Viking Therapeutics — Shares of Viking Therapeutics soared more than 33% after the drug developer announced that its experimental obesity treatment VK2735 will enter Phase 3 clinical trials. The company also said an oral version of the drug will begin Phase 2 trials in the fourth quarter. Molina Healthcare — Shares rose more than 15% after the company reiterated full-year guidance for adjusted earnings of at least $23.50 per share. That was slightly higher than the $23.09 per share expected by analysts polled by FactSet. Molina’s second-quarter earnings and revenue also beat expectations. Edwards Lifesciences — Shares plunged more than 25% after sharply lowering guidance on transcatheter aortic valve replacement. Edwards also reported second-quarter adjusted earnings of 70 cents per share, 1 cent above expectations, according to LSEG. Edwards expects third-quarter revenue to be between $1.56 billion and $1.64 billion. Analysts expected revenue of $1.62 billion. ServiceNow — The software stock surged 14% after reporting stronger-than-expected earnings and raising its annual subscription revenue forecast. Separately, Chief of Operations CJ Desai resigned following an internal investigation into the hiring of the U.S. Army’s former chief information officer. American Airlines — Shares of American Airlines rose more than 6% after the company beat second-quarter profit expectations. American Airlines reported adjusted earnings of $1.09 per share, above the $1.05 expected by LSEG analysts. However, revenue fell short of expectations and the company slashed its full-year forecast. Honeywell — The industrial giant’s full-year outlook missed analysts’ expectations, sending shares down more than 4%. The company expects third-quarter earnings in a range of $2.45 to $2.55 a share, below StreetAccount’s estimate of $2.58 a share. Southwest Airlines — Shares of the airline rose about 6% after second-quarter results beat expectations. Excluding certain items, Southwest earned 58 cents per share on revenue of $7.35 billion. Analysts polled by LSEG estimated earnings of 51 cents per share on revenue of $7.32 billion. The company also said it would end open seating. RTX – The aerospace and defense maker’s shares rose more than 8% after its second-quarter profit beat estimates. RTX earned $1.41 per share (excluding items), while analysts expected $1.30 per share, according to LSEG. The company also reported revenue of $19.79 billion, also beating expectations. Lululemon — Shares of the athletic retailer fell 7% after Citi downgraded its rating to neutral from buy. The company said the category slowdown will be “difficult to outpace,” while execution difficulties could lead to increased competitive and promotional pressures. Hasbro — Shares of Hasbro rose nearly 4% after the toymaker beat second-quarter estimates and raised full-year guidance. Hasbro earned $1.22 per share, excluding items, on revenue of $995 million, while analysts polled by LSEG expected earnings of 78 cents per share on revenue of $944 million. AbbVie — Shares of AbbVie rose more than 4% after the biopharmaceutical company reported second-quarter results that topped Wall Street expectations. AbbVie reported earnings before items of $2.65 per share, compared with the LSEG consensus estimate of $2.57 per share. Revenue also topped estimates, reaching $14.46 billion, compared with the consensus estimate of $14.03 billion. International Business Machines — Shares of International Business Machines rose more than 5% after the company beat second-quarter earnings expectations. International Business Machines reported adjusted earnings of $2.43 per share on revenue of $15.77 billion. Analysts expected earnings of $2.20 per share on revenue of $15.62 billion, according to LSEG. Northrop Grumman — The defense stock rose more than 5% after the company beat second-quarter earnings estimates. Northrop Grumman earned $6.46 per share on revenue of $10.22 billion. Analysts had expected LSEG to post profit of $5.93 per share on revenue of $10.02 billion. The company also raised its full-year forecast. Nasdaq — Shares of the financial services company soared more than 6% after the financial services company reported better-than-expected second-quarter results. Nasdaq reported earnings per share excluding items of 69 cents on revenue of $1.16 billion. Analysts polled by LSEG expected earnings of 64 cents per share on revenue of $1.13 billion. Align Technology — Shares of the maker of Invisalign aligners fell about 6% after its forecast disappointed and revenue came in slightly below expectations. Second-quarter adjusted earnings were $2.41 per share, missing estimates of $2.30 per share. Revenue for the period was $1.03 billion, missing the consensus estimate of $1.04 billion. Align expects brace sales and systems and services revenue to decline significantly due to seasonality in the third quarter. —CNBC’s Alex Harring, Yun Li, Pia Singh, Hakyung Kim and Jesse Pound contributed reporting.
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