Check out the companies making headlines midday Thursday:
Tesla — Shares of Tesla plunged 13.6% after the electric car maker reported a larger-than-expected loss as revenues also came up short. Tesla lost an adjusted $1.12 per share for the second quarter, significantly wider than the 40 cent loss expected by Wall Street, according to Refinitiv.
Ford Motor — Ford shares slid 7.45% after the company reported quarterly earnings that disappointed investors. The auto maker reported earnings per share of 28 cents, while analysts polled by Refinitiv expected a profit of 31 cents per share. The company's bottom line was hurt by weakness in its North America business. Ford's full-year earnings guidance was also disappointing.
Facebook — Shares of Facebook erased earlier gains and closed down 1.93% despite better-than-expected second-quarter results. Chief Financial Officer David Wehner said in the earnings call the social media giant expects the constant currency revenue growth rates to "decelerate sequentially going forward." The company also sees "more pronounced deceleration in the fourth quarter and into 2020, partially driven by ad-targeting related headwinds and uncertainties," Wehner said. Facebook earned $1.99 cents per share in the second quarter, versus $1.88 per share forecast by Refinitiv.
Align Technology — The maker of Invisalign had its stock plummeted 26.9% after the company warned of a slowdown in China. CEO Joe Hogan said Invisalign shipments were lower than expected in the second quarter, "primarily due to a softness in China related to a tougher consumer environment."
American Airlines — Shares of American Airlines fell 8.4% on Thursday after the company reported that the grounding of Boeing' s 737 Max would cause a $400 million hit to pretax earnings. Strong travel demand helped American Airlines post second-quarter profit that came in slightly higher than expected however.
PayPal — Shares of payments giant PayPal fell 5% after the company missed Wall Street's estimates for quarterly revenue and lowered its full-year revenue guidance. PayPal reported second-quarter revenue of $4.31 billion, missing analysts' estimates of $4.33 billion, according to Refinitiv. PayPal is now expecting full-year revenue of between $17.6 billion and $17.8 billion, well below Wall Street's expected $17.92 billion.
Nokia —The electronics maker's stock rallied 10% on the back of better-than-forecast results for the previous quarter. Nokia also said it expects slight market growth for 2019 after forecasting a flat market earlier in the year.
World Wrestling Entertainment — WWE jumped 8.7% after reporting a second-quarter profit of 11 cents per share, topping a Refinitiv estimate of 4 cents a share. The company said digital video views surged 17% in the quarter to 9 billion.
Electronic Arts — Electronic Arts dipped 0.69% after Bank of America downgraded the video game publisher to neutral from buy. The analysts cited disappointing performance of the new season of EA's Apex Legends game and brand erosion in other titles for the downgrade.
Anheuser-Busch InBev — The brewer's stock rose 4.1% after reporting that beer sales hit their highest levels in five years. Beer volumes were up 2.1% in the quarter compared to a year earlier, as prices rose and consumers bought more of the company's higher priced offerings.
Dow Inc. — Dow Inc. shares dropped 3.83% after the chemical company issued weaker-than-expected revenue guidance for the third quarter. The company expects sales to range between $10.5 billion and $11 billion, below a Refinitiv estimate of $12.03 billion.
Dish Network — Shares of Dish Network traded down 5.75% after an analyst at MoffettNathanson downgraded the shares to sell and lowered its price target to $30 per share, implying about 28% downside from Wednesday's close. The analyst cited Dish's expected acquisition of T-Mobile's prepaid phone business and spectrum assets.
— CNBC's Maggie Fitzgerald, Fred Imbert and Jesse Pound contributed reporting.