A look at the companies making headlines in midday trading: Microsoft — Shares jumped 2% after the tech giant reported better-than-expected third-quarter financial results as its Azure business continued to show momentum. Alphabet – Shares of Google’s parent company rose 10%. Alphabet posted first-quarter results that beat forecasts and authorized its first-ever dividend and $70 billion in share buybacks. Earnings of $1.89 per share topped the $1.51 earnings per share expected by analysts polled by LSEG. Revenue of $80.54 billion beat expectations of $78.59 billion. Exxon Mobil — Energy shares fell more than 2% after Exxon Mobil posted adjusted first-quarter earnings that missed analysts’ forecasts. Earnings of $2.06 per share, excluding items, fell below the LSEG consensus estimate of $2.20 earnings per share. Revenue of $83.08 billion beat estimates of $78.35 billion. ResMed — Shares soared 17% after fiscal third-quarter results beat analysts’ estimates. The medical device company reported earnings of $2.13 per share, excluding items, on revenue of $1.20 billion. Analysts surveyed by FactSet had forecast earnings per share of $1.93 on revenue of $1.17 billion. Intel—Shares of the chipmaker fell 9% after the company issued weak guidance for the current quarter. Second-quarter revenue is expected to range from $12.5 billion to $13.5 billion, while analysts surveyed by LSEG expected $13.6 billion. Adjusted earnings per share for the period are forecast to be below Wall Street expectations . Snap — Shares rose 28% after the social media company posted adjusted earnings and revenue that beat analysts’ expectations, according to LSEG data. Snap’s revenue rose 21% in the quarter, helped by renewed growth in its digital advertising business. Charter Communications — Shares of the broadband and cable TV provider fell 2% on weak first-quarter results. Charter earned $7.55 per share on revenue of $13.68 billion, below Street estimates of $7.92 earnings per share and $13.74 billion in revenue at LSEG. Skechers – The footwear company rose nearly 13% after reporting higher revenue and profit in the first quarter. Skechers reported earnings of $1.33 per share and revenue of $2.25 billion, topping the earnings of $1.10 per share and revenue of $2.2 billion expected by analysts polled by LSEG. Roku — Shares of the streaming company fell 8% after reporting first-quarter results. Roku beat revenue expectations, according to FactSet. However, the company warned of “difficult year-over-year growth rate comparisons” in its streaming distribution business, citing past price increases and a shift toward ad-supported streamers. T. Rowe Price Group – Shares rose 5% after quarterly results that beat expectations. The asset management company reported first-quarter adjusted earnings of $2.38 per share on revenue of $1.75 billion. Analysts had expected earnings of $2.04 per share and revenue of $1.71 billion, according to FactSet. L3Harris Technologies — Shares of the defense company rose 3% after reporting record first-quarter earnings and revenue. Management also raised its full-year guidance. —Reporting by CNBC’s Samantha Subin, Alex Harring, Lisa Kailai Han and Sarah Min.
