Take a look at the companies that made headlines in midday trading: Apple. Shares of the tech giant jumped about 6% after announcing it would buy back $110 billion worth of stock. Apple also outperformed on revenue and earnings, reporting fiscal second-quarter earnings of $1.53 per share on revenue of $90.75 billion. That topped analysts’ estimates of earnings of $1.50 per share on revenue of $90. 01 billion on LSEG. Block. Shares of the payment services provider fell more than 1% despite reporting first-quarter results that beat analysts’ expectations. Block reported adjusted earnings of 85 cents per share on revenue of $5.96 billion, beating the 72 cents per share profit on revenue of $5.82 billion that analysts polled by LSEG had expected. Live Nation Entertainment – Shares jumped 7.2% on better-than-expected first-quarter revenue. Management said it expects a successful stadium year in 2025 and continued growth in concert attendance. Expedia — Shares fell 15.3% after the online travel booking company cut its full-year forecast, citing weakness in Vrbo’s vacation rental segment. Wall Street firms including Piper Sandler and BMO Capital Markets downgraded Expedia after the report. DaVita — Shares of the health care provider fell 5.5% despite better revenue and profit forecasts and a slightly higher profit forecast for the year. On Thursday, the company’s stock reported adjusted first-quarter earnings of $2.38 per share on revenue of $3.07 billion, while analysts polled by FactSet had forecast earnings of $1.95 per share on revenue of $3.03. billion Booking Holdings — Shares of the online travel booking company rose 1.6% after reporting first-quarter results that beat analysts’ expectations, helped by the early Easter holiday cycle this year. The company said consumer demand remains strong overall, but noted risks related to geopolitical tensions. Avidity Biosciences – Shares rose more than 8% amid bullish guidance from Bank of America. The firm initiated coverage with a buy rating and forecast upside potential of 56% from Thursday’s close, citing Avidity’s strong rare muscle disorder portfolio. Amgen — Shares of the biotech company rose 11.8% after reporting declines in both revenue and profit in the first quarter. The company also announced that it will move into phase three trials of its injectable anti-obesity drug. At the same time, shares of Novo Nordisk and Eli Lilly were trading down about 1% and 2% each, respectively. Cloudflare – Shares fell 16.4% amid weak full-year guidance despite reporting first-quarter adjusted earnings and revenue. Arista Networks — Shares of the cloud networking technology company rose more than 3% after Jeffries upgraded his rating on the stock from “hold” to “buy.” The bank predicts that Arista will be a “major beneficiary of AI.” Fortinet — Stocks fell more than 8% after the midpoint of second-quarter billing guidance came in lower than analysts expected. However, the company beat analysts’ expectations for the first quarter. — CNBC’s Alex Harring, Lisa Kailai Khan, Michelle Fox and Pia Singh contributed reporting.
