Here’s a look at the companies making headlines in midday trading: SoFi Technologies – The consumer fintech company’s stock price fell about 10% on disappointing second-quarter earnings guidance. SoFi’s forecast adjusted revenue of $555 million to $565 million and net income of $5 million to $10 million, while analysts polled by FactSet had forecast revenue of $580.8 million and net income of $13.9 million . However, SoFi’s first-quarter earnings beat analysts’ estimates. Tesla — Shares of the Elon Musk-led company rose 16% after the electric vehicle maker passed a major milestone in rolling out its full self-driving technology in China. Tesla said Sunday that local Chinese authorities have lifted restrictions on its vehicles after meeting the country’s data security requirements. Domino’s Pizza — Shares of the pizza chain rose 4.5% on better-than-expected first-quarter earnings. Domino’s reported earnings per share of $3.58 versus $3.39 expected by analysts polled by LSEG and said U.S. same-store sales growth increased year over year. Philips — Shares of the Dutch medical device giant jumped more than 29% to a two-year high after Philips agreed to pay $1.1 billion in damages in the U.S. for injuries related to a recall of some of its sleep apnea devices. millions. of which were recalled in 2021 due to concerns that they contain parts that carry a potential cancer risk. AT&T — Telecom shares jumped 2.8% after Barclays upgraded AT&T to overweight from equal weight, citing a “discrepancy” between the company’s valuation and its growth prospects. Roku — Shares of the streaming TV distributor rose more than 3% after switching to neutral at Seaport Research Partners. Analyst David Joyce said investors have sold shares on fears of competition in the streaming space, and Roku’s risk-reward profile looks attractive as the company is expected to ramp up its advertising this year. Apple — Shares rose more than 3% after Bernstein upgraded technology stocks to outperform the market. Analyst Toni Sacconaghi said concerns about China’s recent weakness may be overblown and that it may be time for investors to “buy fear.” Southwest Airlines — Shares of the airline fell 2% after Jefferies shares were downgraded to underperform from hold. The firm cited Southwest’s disappointing earnings report on Thursday. The company said the airline’s weakening cash position leaves its dividend vulnerable. Dave: The stock jumped 9.8% after JMP initiated coverage of the fintech company with an outperform rating. According to the firm, Dave has achieved financial strength after posting profitable adjusted EBITDA, making the company a “promising investment opportunity” as it expands its product portfolio. AMC Entertainment Holdings – Movie theater shares fell 9.7% after AMC pre-announced first-quarter results, reporting better-than-expected revenue of $951.4 million but slightly disappointing adjusted EBITDA of $31.6 million, according to FactSet. The company also expects its second-quarter box office to continue to be weighed down by last year’s strikes. Paramount Global — Shares of the entertainment company, which will report earnings after the earnings day, rose 3.7% on reports that its board of directors is preparing to fire CEO Bob Bakish as soon as Monday. — CNBC’s Sarah Min, Tanaya Machil, Yun Lee, Lisa Kailai Han and Michelle Fox contributed reporting.
