Markets

Stocks making the biggest moves midday: Moderna, Sabre, TJX, Netflix & more

A shopper carries a bag outside a TJ Maxx store in New York, U.S.
Victor J. Blue | Bloomberg | Getty Images

Check out the companies making headlines in midday trading on Wednesday:

Moderna — Shares of Moderna surged 22.7% to hit an all-time high, after gaining 27.8% just on Tuesday. The rally came after the biotech company said it is hoping for a clinical trial of a coronavirus vaccine by the end of April. The company had shipped a coronavirus vaccine to U.S. government researchers for study.

Guardant Health — Guardant Health spiked 7.5% after the medical company beat analyst earnings and revenue expectations for the fourth quarter. Guardant reported a loss of 27 cents per share and $62.9 million in revenue. Analysts expected a 30 cents per share loss on $54.9 million in revenue, according to FactSet. Canaccord Genuity, which has a buy rating on the stock, said in a note to clients that Guardant's forward guidance seemed conservative and should set the company up for future earnings beats.

Sabre — Shares of Sabre plunged 16.1% after the travel technology company missed revenue expectations for the fourth quarter and said coronavirus would hurt first-quarter revenue by $100 million to $150 million. Sabre reported fourth quarter revenue of $941.4 million, while analysts expected $948 million, according to FactSet. The company also reported a decline in operating income, which it said was due to increased technology expense.

Sinclair Broadcast — Shares of the media conglomerate fell 15% after Sinclair Broadcast reported fourth-quarter earnings of an adjusted 94 cents cents a share, below the $1.02 a share expected according to analysts surveyed by FactSet. Sinclair's media revenue was also notably light, below its previous forecast at $1.58 billion.

TJX Companies — Shares of TJX Companies soared 7.2%. The parent company of TJ Maxx reported adjusted earnings of 81 cents per share and revenue of$12.206 billion for its fourth quarter, with same store sales rising 6%. Wall Street analysts expected adjusted earnings of 77 cents per share and $11.83 billion in revenue, according to Refinitiv.

Netflix — Top technology stocks — also known as the "FAANG" group, the colloquial name for Facebook, Apple, Amazon, Netflix and Google-parent Alphabet — all climbed in trading, with Netflix up 5.3% and leading the group higher. The bounce back for the tech stocks came as the broader U.S. market rebounded after a two day plunge.

B&G Foods — Shares of B&G Foods surged 23.2% after the company reported fourth-quarter earnings in line with Wall Street's expectations, according to FactSet, with a better-than-anticipated forecast for 2020. B&G Foods said it expects to see earnings this year between $1.60 a share and $1.80 a share, with revenue coming in between $1.66 billion and $1.68 billion.

J.M. Smucker — Shares of J.M. Smucker rose 1.3% after beating earnings expectations for its fiscal third quarter. The food company reported $2.35 in adjusted earnings per share for the quarter, topping estimates of $2.23 per share, according to Refinitiv. Its revenues of $1.972 billion matched what analysts expected. Stifel said in a note to client that a legal settlement and lower than expected interest costs helped Smucker's bottom line.

SmileDirectClub — Shares of SmileDirectClub cratered 29.4% following its disappointing fourth quarter results. The company, which sells teeth aligners directly to consumers, reported a loss of 25 cents per share. Revenue came in at $197 million, missing the forecast $200 million in revenue, according to Refinitiv. SmileDirectClub also issued weak full year revenue guidance.

Toll Brothers — shares of the homebuilder plummeted 14.6% after the company missed top and bottom line estimates. In the first quarter, the company earned 41 cents per share on $1.33 billion in revenue. According to estimates from FactSet, analysts had been expecting 46 cents in earnings and $1.44 billion in revenue. Raymond James also lowered its rating on the stock to market perform.

Planet Fitness — Planet Fitness shares slid 6.7% after the gym operator issued weaker-than-forecast earnings guidance for 2020. The company expects full-year earnings per share to come in around $1.84. That's slightly below a Wall Street estimate of $1.90, according to a Wedbush analyst. The disappointing guidance overshadowed better-than-expected results for the fourth quarter.

— CNBC's Maggie Fitzgerald, Yun Li, Pippa Stevens and Fred Imbert contributed to this report.

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