Skip to main content

Stocks making the biggest moves midday: General Electric, Mattel, Yum Brands & more

Check out the companies making headlines in midday trading.

General Electric — Shares of GE rose more than 11% after the embattled industrial conglomerate reported third-quarter results that beat Wall Street's top and bottom line expectations. GE raised its 2019 cash flow forecast, as CEO Larry Culp said the company's "results reflect another quarter of progress in the transformation of GE."

Mattel — Shares of the toy maker surged 15% following third-quarter earnings. The company beat top and bottom line estimates, driven by growth in Barbie and BTS K-pop toy sales. The company also announced that the CFO would resign following an investigation into accounting error claims.

Yum Brands — Shares of the Taco Bell and Pizza Hut parent plunged more than 8% on the back of disappointing quarterly results. Yum Brands posted adjusted earnings per share of 80 cents on revenue of $1.339 billion. Analysts polled by Refinitiv expected an adjusted profit of 94 cents a shares on sales of $1.344 billion. The company pointed to its investment in food-delivery service GrubHub as a source of pressure on profits.

Johnson & Johnson — Shares of Johnson & Johnson rose 2.4% after the multinational pharmaceutical manufacturer said its testing found no asbestos in its Johnson's Baby Powder. The company pulled the powder off of shelves after federal regulators said they found trace amounts of asbestos, a known carcinogen, in a bottle purchased online.

Centene, WellCare Health Plans — Shares of Centene soared nearly 8% after a company it is buying, managed care company WellCare Health Plans, posted better-than-expected quarterly earnings. WellCare earned $5.5 per share in the the third quarter, far better than the $3.86 per share analysts were expecting, according to FactSet. Shares of WellCare climbed 4.7%.

Edison International — Shares of Edison International dropped 5% about the public utility company reported worse-than-expected third-quarter earnings. Edison earned $1.50 per share, while Wall Street analysts were expecting earnings of $1.58 per share, according to Refinitiv. The company modestly raises its full-year earnings outlook, despite the weak results.

Tupperware — Shares of Tupperware tanked more than 31% after the housewares maker posted disappointing quarterly earnings. Tupperware earned an adjusted 43 cents per share, well short of the 62 cent consensus estimate. The company said it was experiencing challenging trends in markets like the U.S., China, Canada, and Brazil. The company also cut its full-year earnings outlook.

Crocs — Shares of Crocs jumped 13% after the footwear company reported stronger-than-expected earnings. Crocs earned 57 cents in the third quarter, beating the consensus estimate of 39 cents. Its revenue also topped analysts' expectations, according to FactSet.

Netflix — Shares of Netflix gained 3.2% as investors digest the latest streaming service launch from WarnerMedia. HBO Max streaming service will launch in the U.S. in May of 2020, and cost $14.99 a month, WarnerMedia announced Tuesday. It's pricier than Netflix's most popular tier of service which comes at $12.99 a month.

— CNBC's Michael Sheetz, Maggie Fitzgerald, Pippa Stevens and Fred Imbert contributed reporting.

Source: Read Full Article


Popular posts from this blog

Google accused of creating 'creepy' spy tool to squelch worker dissent

Google workers are accusing the company of developing an internal surveillance tool that they believe will be used to monitor their attempts to organise protests and discuss labour rights.Earlier this month, employees said they discovered that a team within the company was creating the new tool for the custom Google Chrome browser installed on all workers' computers and used to search internal systems. The concerns were outlined in a memo written by a Google employee and reviewed by Bloomberg News, and by three Google employees who requested anonymity because they aren't authorised to talk to the press.The tool would automatically report staffers who create a calendar event with more than 10 rooms or 100 participants, according to the employee memo. The most likely explanation, the memo alleged, "is that this is an attempt of leadership to immediately learn about any workers organisation attempts."Google is using the new software tool to police its own workers amid r…

At Least 23 People Dead in Australia Bushfires As Blazes Continue Raging

SYDNEY (AP) — A father and son who were battling flames for two days are the latest victims of the worst wildfire season in Australian history, and the path of destruction widened in at least three states Saturday due to strong winds and high temperatures.The death toll in the wildfire crisis is now up to 23 people, Prime Minister Scott Morrison said after calling up about 3,000 reservists to battle the escalating fires, which are expected to be particularly fierce throughout the weekend.“We are facing another extremely difficult next 24 hours,” Morrison said at a televised news conference. “In recent times, particularly over the course of the balance of this week, we have seen this disaster escalate to an entirely new level.”Dick Lang, a 78-year-old acclaimed bush pilot and outback safari operator, and his 43-year-old son, Clayton, were identified by Australian authorities after their bodies were found Saturday on a highway on Kangaroo Island. Their family said their losses left them…

It will take 100 years for women to earn the same as men at this rate

The wage gap between men and women is 20%, meaning women get paid 80 cents to every $1 men earn, according to a recent study.The pay gap narrowed about 2% in the last ten years. If things don't improve, it will take a century for women to reach equal pay, according to Goldman Sachs.The firm said at least part of the unexplained gap could be due to the lack of women in highly-paid senior roles, despite being on average more educated than men.It could take a century for women to be paid as much as men, if things stay as they are now.The wage gap between men and women is 20%, meaning women get paid 80 cents for every $1 men earn. In the last ten years, the pay gap only narrowed about 2%, and if performance stays consist with the past decade's, it would take 100 years to reach equal pay, according to Goldman Sachs."The latest data show there's more work to do," said Amanda Hindlian, global COO of global investment research at Goldman Sachs in a note titled "Clos…