Take a look at the companies making headlines in midday trading. Reddit — Shares soared 41% after the social media company released a blockbuster third-quarter report. Reddit reported earnings of 16 cents per share, while analysts polled by LSEG had expected earnings of 7 cents per share. The company’s revenue of $348.4 million also beat consensus estimates of $312.8 million. Reddit reported fourth-quarter revenue and adjusted earnings that topped analysts’ average forecasts. Super Micro Computer – Shares of the artificial intelligence server fell 30% after the company disclosed in a regulatory filing that its auditor Ernst & Young resigned after raising concerns about board independence and accounting practices. Garmin — Shares of Garmin rose more than 23% to hit a 52-week high following better-than-expected third-quarter results. In that period, Garmin expects earnings of $1.99 per share on revenue of $1.59 billion. That was higher than the $1.45 per share and revenue of $1.44 billion expected by analysts polled by FactSet. The company also raised its full-year forecast. Eli Lilly – Shares of Eli Lilly plunged more than 7% after the drugmaker reported lower-than-expected third-quarter earnings and lowered its full-year forecast. Eli Lilly earned $1.18 per share (excluding items) on revenue of $11.44 billion. That was below consensus estimates of $1.47 per share and revenue of $12.11 billion, according to LSEG. XPO — The logistics company’s third-quarter results beat Wall Street expectations, sending its shares soaring more than 13%. XPO earned $1.02 per share, excluding items, while analysts polled by FactSet had expected a profit of 90 cents per share. On the other hand, the company’s revenue came in slightly higher than expected, at $2.05 billion, compared with the consensus estimate of $2.02 billion. Shake Shack – The burger chain’s quarterly results topped Wall Street expectations, sending its shares up nearly 14% to a new 52-week high. In the third quarter, Shake Shack earned 25 cents per share, excluding items, on revenue of $316.9 million. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of 20 cents per share on revenue of $316.1 million. Caesars Entertainment – Shares of Caesars Entertainment plunged more than 10% as the casino operator missed analysts’ expectations for the third quarter. On an earnings call with analysts, Chief Executive Thomas Reeg said: “There are still more headwinds than tailwinds for us. I think my regional expectations for next year are that things will be going well this year. Down slightly to flat Wingstop — Shares of Wingstop fell about 19% after the restaurant chain’s third-quarter results missed analysts’ forecasts, earning 88 cents a share, according to LSEG. 95 cents. Chipotle — The fast-casual chain’s third-quarter revenue missed Wall Street expectations and its shares fell more than 7%. Chipotle’s same-store sales also missed expectations, rising 6% during the same period, while analysts polled by StreetAccount expected growth. 6.3%. Alphabet – Shares of the search giant rose more than 5% after the parent company of Google reported stronger-than-expected third-quarter earnings. The company also saw strong growth in cloud revenue during the period, up nearly 35% from the same period last year. Visa — The global payments company’s fourth-quarter profit beat estimates, and the stock rose nearly 4%. Visa reported adjusted earnings of $2.71 per share on revenue of $9.62 billion. Analysts expected LSEG to earn 94.9 per share. billion, with earnings of $2.58 per share. The company also raised its quarterly dividend by 13% to 59 cents. Qorvo – Semiconductor stock fell 24.6% on weak earnings guidance for the fiscal second quarter. Following the report, Raymond James downgraded his rating to market perform from outperform and removed his price target on Snap – due to better-than-expected third-quarter earnings and the $500 million announcement. The company’s stock price surged nearly 16% as the social media platform reported adjusted earnings of 8 cents per share on revenue of $1.37 billion, according to LSEG. Analysts expected earnings of 5 cents per share on revenue. Advanced Micro Devices – AMD shares fell 9.5% after reporting fourth-quarter revenue of $7.5 billion, in line with analysts’ expectations, according to LSEG. The company also reported third-quarter adjusted earnings. Earnings met expectations, while revenue beat expectations VinFast Auto – Shares of VinFast Auto rose more than 2% after Bloomberg News reported that a group of investors will invest at least $1 billion in the electric vehicle maker, citing a person with direct knowledge of the matter. . The financing round was led by Emirates Driving Company Humana – Health insurance stock rose more than 3% after reporting better-than-expected third-quarter earnings of $4.16 per share. It closed at $29.3 billion. Analysts surveyed by LSEG expected earnings of $3.40 per share and revenue of $28.67 billion. First Solar – The solar stock fell 1% after reporting disappointing third-quarter earnings and revenue and lowering full-year guidance. First Solar reported earnings of $2.91 per share on revenue of $887.7 million. Analysts polled by FactSet expected earnings of $3.16 per share and revenue of $1.08 billion. However, several Wall Street firms, including Goldman Sachs and Bank of America, reiterated their buy ratings on the stock after the results, with Bank of America saying “don’t worry about the noise.” —CNBC’s Alex Harring, Samantha Subin, Lisa Kailai Han, Sarah Min, Jesse Pound and Michelle Fox contributed reporting.
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