Check out the companies making headlines in midday trading:
Exxon Mobil — Shares of Exxon Mobil climbed more than 2.5% despite the international petroleum giant reporting earnings down 49% in the third quarter. Investors appeared reassured by CEO Darren Woods's comments about the company's production in the Permian Basin as well as additional discoveries in Guyana. Woods also said that Exxon made progress on divesting its assets, which the company forecasts will generate $15 billion in cash by 2025.
United States Steel — U.S. Steel popped 18% after the company said on Thursday that its third-quarter sales and adjusted losses were better than analysts had been expecting. The Pittsburgh-based steelmaker detailed its aggressive investment and acquisition strategy to improve the quality of its steel and lower its production costs.
Newell Brands — Shares of the consumer and commercial product maker gained more than 8% after the company's third-quarter earnings beat estimates. Sales declined 3.8%, but also came in ahead of expectations. The company also announced that it is ending its divestiture program, and will keep 2 units that it had initially planned to sell.
Pinterest — Shares of Pinterest tanked nearly 20% after the online hobby board operator reported a revenue miss and issued disappointing guidance. Pinterest's revenue came in at $279.7 million in the third quarter amid slowing sales growth, below Refinitiv estimates of $280.6 million. The company also missed estimates for its 2019 full-year outlook. Pinterest reported a quarterly profit of a penny a share however, beating expectations.
Fitbit — The smartwatch maker jumped 15% after the company announced it will be bought by Google-parent Alphabet. Alphabet will pay $7.35 per share in cash for Fitbit, or $2.1 billion. The deal is expected to close in 2020.
Qorvo — Shares of the chipmaker shot up more than 18% after the company posted quarterly results that topped analyst expectations. Qorvo reported earnings per share of $1.52 on revenue of $807 million. Analysts polled by Refinitiv expected a profit of $1.30 per share on sales of $754 million. The company also announced a $1 billion buyback program and issued strong fiscal third-quarter guidance, citing strong handset demand.
DuPont de Nemours — Despite drops in net sales and profits, DuPont stock climbed more than 3% on Friday following the company's earnings report. The company did say, however, that its nutrition and biosciences division saw a boost in food and beverage volumes driven by gains in specialty proteins from growing demand for plant-based meats.
Arista Networks — Shares of Arista Networks plunged more than 25% in midday trading after the high-flying computer networking company issued fourth-quarter guidance well below what analysts were expecting. Management noted a "sudden softening in 4Q with a specific titan cloud customer," which sparked a slew of negative analyst notes and several rating downgrades.
– CNBC's Maggie Fitzgerald, Yun Li, Fred Imbert and Pippa Stevens contributed to this report.