Take a look at the companies making headlines in midday trading. Shopify – The e-commerce platform operator reported third-quarter operating income of $283 million, up from $122 million in the same period last year, and its shares soared 26%. Shopify’s revenue was $2.16 billion, beating FactSet’s forecast of $2.12 billion. The stock is poised to have its best day ever. Live Nation Entertainment — The live music and entertainment company’s shares rose 4% after its third-quarter profit beat estimates. Live Nation earned $1.66 per share, beating LSEG’s forecast of $1.59 per share. On the other hand, revenue of $7.65 billion was lower than analysts’ forecast of $7.75 billion. HONEYWELL — Shares of the industrial giant rose 3% after Elliott Management disclosed a $5 billion stake. In a letter, the investor recommended that Honeywell “pursue the separation of its aerospace and automation businesses. Both entities will become industry leaders and be better able to prosper, serve customers and employees, and and create long-term value for shareholders.” Twilio — Shares of the cloud communications company rose 4% after Wells Fargo upgraded its rating on the cloud communications company to overweight from equal weight. Wells Fargo says, “Twilio can serve as the pick and shovel game for the next wave of artificial intelligence-native front-end and communications-driven genAI applications.” IAC — Shares of IAC — Media and Internet Group Says It’s Considering Spinoff of Home Improvement Marketplace Angi plunged 9%. Angi’s shares fell 22%. Trump Media & Technology — Shares of Trump Media Inc. fell 8% on Tuesday. The stock rose nearly 5% on Monday and gained more than 4% last week after Donald Trump was re-elected to the White House. SentinelOne — The cybersecurity stock rose 1.5% after Deutsche Bank upgraded the stock to buy from hold. The Wall Street firm said CrowdStrike’s July outage could boost SentinelOne’s momentum. Tyson Foods — Shares of the poultry processor rose more than 8% after Tyson Foods reported fourth-quarter earnings that beat Wall Street expectations. Tyson Foods reported adjusted earnings of 92 cents per share on revenue of $13.57 billion. Analysts expected earnings of 72 cents per share on revenue of $13.39 billion, according to FactSet estimates. Tyson Foods also raised its quarterly dividend by 2%. On Holding — The Swiss athleisure company’s U.S.-listed shares fell 1.5% on mixed third-quarter results. Reported adjusted earnings of CHF 0.15 on revenue of CHF 635.8 million. Analysts polled by StreetAccount expected revenue of 617.6 million Swiss francs and profit of 0.19 Swiss francs. Meanwhile, On’s full-year revenue guidance was slightly ahead of analysts’ forecasts. TreeHouse Foods — The food processor reported that its third-quarter adjusted diluted earnings and revenue missed analysts’ estimates, sending the company’s shares tumbling 16%. Treehouse also reported fourth-quarter revenue and adjusted EBITDA guidance, which fell short of FactSet estimates. Tencent Music Entertainment — The Chinese music streaming company reported a 23.9% drop in revenue from its social entertainment services business last quarter, sending its shares down 8%. Sea — Shares of the technology company surged 1.7% after the company reported better-than-expected third-quarter revenue. Sea’s revenue of $4.33 billion topped the FactSet consensus forecast of $4.09 billion. The company’s adjusted EBITDA in the third quarter was US$521.3 million, also higher than expectations of US$490.9 million. Shift4 Payments – The payments stock fell 8.2% after disappointing third-quarter results. Shift4 Payments reported earnings before items of $1.04 per share on revenue of $365.1 million. Analysts polled by FactSet expected earnings per share of $1.06 and $371.1 million, respectively. Mosaic — Shares of Mosaic fell 9% after the chemicals company reported disappointing quarterly results. Mosaic also said Chief Executive Clint Freeland will retire and Luciano Siani Pires will succeed him in January. GE Vernova — Shares of GE Vernova fell nearly 8% after the wind turbine maker’s chief executive, Scott Strazik, told the Financial Times that he would delay looking for new orders for offshore turbines. Strachik said he hopes for a better economic environment. President-elect Trump has also pledged to block offshore wind power projects. —CNBC’s Michelle Fox, Alex Harling, Hakyung Kim, Jesse Pond and Pia Singh contributed reporting.
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