Check out the companies making headlines in midday trading on Thursday.
Boeing – Boeing jumped more than 3.5% after the Federal Aviation Administration said a software audit of the company's troubled 737 Max craft showed a wiring issue. Administration Stephen Dickson, however, implied the issue appeared relatively easy to fix. CNBC's Phil LeBeau noted that this is just one step required of Boeing before declaring the 737 Max fit to return to service.
Twitter — Shares of the social media name surged more than 16% after fourth quarter earnings showed a record number of monetizable daily active users, and 21% year-over-year growth. The company earned 25 cents per share compared with Street estimates of 29 cents, according to Refinitiv, and revenue came in at $1.01 billion. Analysts had been expecting $996.7 million.
Zynga – Zynga's stock jumped more than 12% after the video game company topped expectations for its fourth quarter results. The video game company reported $433 million in bookings for the period, topping a consensus expectation of $418.1 million, according to FactSet. Stephens analyst Jeff Cohen said in a note to clients that the strong quarter was driven by the company's Empires & Puzzles segment and that the its guidance for 2020 calmed some worries among investors.
Philip Morris – Shares of Philip Morris rose 4.3% on Thursday morning after the tobacco giant beat estimates on the top and bottom lines for the fourth quarter. The company reported $1.22 in adjusted earnings per share and $7.713 billion in revenue. Analysts expected $1.21 in earnings per share and $7.661 billion in revenue, according to Refinitiv. The company said shipment volume for its heated tobacco devices increased by 40.7% compared with the same quarter the previous year.
Peloton – Shares of the fitness equipment maker slid more than 9% after the company reported widening losses and slowing revenue growth in the second quarter. The company lost $55.4 million for a loss of 20 cents per share. This was smaller than the 36 cent loss analysts had been expecting, according to estimates from Refinitiv, but was larger than the $55.1 million the company lost in the same quarter a year earlier. Revenue rose 77% to $466.3 million, which topped Street expectations, although the pace of growth slowed from the prior quarter.
Twilio – Shares of Twilio fell 6% on Thursday after the communications company said it expected revenue growth to slow significantly and adjusted income to be negative next year. The company said it is ramping up internal investments for next year.
Casper Sleep — Shares of Casper soared more than 25% in the online mattress retailer's debut on the New York Stock Exchange. The shares climbed to about $15.09, after opening at $14.50 around 11 am ET. Casper had priced its IPO at $12 per share, or the very low end of its target range, Wednesday evening. Casper at one point, as a private business, was valued at $1.1 billion.