Market Insider

Stocks making the biggest moves midday: Apple, Facebook, Altria, WWE & more

Tim Cook, CEO of Apple laughs while Lana Del Rey (with iPad) takes a photo during a launch event at the Brooklyn Academy of Music on October 30, 2018 in New York City.
Stephanie Keith | Getty Images

Check out the companies making headlines in midday trading:

Apple – Shares of Apple rose 2.6% after the company reported better-than-expected fourth quarter earnings and revenue. The technology company posted earnings of $3.03 per share on revenue of $64 billion. Wall Street was expecting earnings of $2.48 per share on revenue of $62.99 billion, according to Refinitiv. The results got a boost from strong demand for iPads and AirPods as well as growth in Apple's services business.

Facebook — Facebook shares rose nearly 1.8% after the social media giant posted quarterly earnings and revenue that topped analyst expectations. The company posted a profit of $2.12 per share on Revenue of $17.65 billion. Analysts polled by Refinitiv expected a profit of $1.91 per share on sales of $17.37 billion. Facebook's monthly average users grew to 2.45 billion, in line with expectations. However, Facebook's average revenue per user topped expectations.

Altria – Shares of the tobacco producer fell 2.5% after reporting third quarter earnings Thursday morning. Altria announced a $4.5 billion writedown on its investment in Juul, based on the possibility of more FDA actions against the e-cigarette maker. It also warned about possible bans on e-cigarette products in certain cities and states. Still, the firm beat analysts' estimates by 4 cents and topped revenue forecasts, according to Refinitiv.

Dunkin' Brands – Shares of the restaurant chain operator jumped 6.3% after Dunkin Brands beat Wall Street's earnings estimates and raised its full year forecast. The company's adjusted earnings came in 9 cents above analysts' estimates, according to Refinitiv, although revenue was just shy of forecasts. U.S. sales were boosted by demand in premium drinks, such as cold brew coffee.

Universal Display – Shares of the technology hardware company, a key supplier for Apple, rose 15.3% after Universal Display turned in third-quarter earnings that beat analyst estimates, according to FactSet. Universal Display also raised its 2019 forecast, while CFO Sidney Rosenblatt told shareholders on the company's conference call that it is "very positive on 2020."

Kraft Heinz – Shares of Kraft Heinz rose more 13.4% after its quarterly earnings beat analysts' expectations. The surge came even as its sales continued to decline. Executives have been developing a turnaround plan for the food company, which has seen falling profits and sagging sales.

World Wrestling Entertainment — WWE shares tumbled 15.7% after the company issued weaker-than-forecast operating income guidance for the fourth quarter and posted a revenue miss for the third quarter. WWE expects operating income to range between $108 million and $118 million in the fourth quarter, missing a StreetAccount estimate of $133.1 million. The company also posted third-quarter revenue of $186.3 million. That's below a StreetAccount forecast of $191.5 million.

Western Digital — Shares of that hard disk manufacturer dropped 16.9% on the back of disappointing earnings guidance for fiscal second quarter. Western Digital expected earnings per share to range between 45 cents and 65 cents. That's below a StreetAccount median estimate of 78 cents a share.

Etsy – Shares of the online retailer sank 15.8% after third quarter results. Earnings matched Street estimates while revenue came in ahead of forecasts, but gross margins disappointed, decking by more than 3%.

Estee Lauder – The beauty retailer's stock shed 3.6% after the company cut its full-year outlook on anticipated softness in brick and mortar retail. The company did, however, beat EPS and revenue estimates for the quarter.

Murphy USA – Shares gained 24.4% following third quarter earnings. The company reported earnings per share of $2.18, which was 72 cents above what analysts polled by FactSet had been expecting. Revenue came in at $3.66 which was slightly below the expected $3.68 billion.

Alamo Group – Shares of Alamo Group fell 17.5% after the company, which manufactures agricultural and infrastructure maintenance equipment for government and industrial use, reported a 26% drop in year-over-year third-quarter net income. Despite record sales for the first nine months of the year, Alamo Group's order backlog dropped 14.3%, to $215.3 million, compared to the same quarter last year.

Hanesbrands – The apparel company's stock dropped 5.1% after Hanesbrands delivered third-quarter earnings inline with Wall Street's expectation but worse than expected quarterly operating income, according to analysts surveyed by FactSet.

– CNBC's Maggie Fitzgerald, Pippa Stevens, Kate Rooney, Fred Imbert and Al Lewis contributed to this report.