Check out the companies making headlines in midday trading.
Invesco – Shares of Invesco tanked more than 21% after the asset manager reported disappointing quarterly results. Invesco earned 34 cents in the first quarter, missing analysts' estimate of 52 cents, according to FactSet. Invesco also announced a quarterly cash dividend of 15.5 cents, down 50% from the prior payout.
Domino's — Shares of the pizza company fell more than 3% after it withdrew its long-term guidance. The company did beat Wall Street expectations for its first quarter, reporting $3.07 in earnings per share and $873.1 million in revenue. Analysts expected $2.32 of earnings per share and $868.7 of revenue, according to Refinitiv.
Wynn Resorts, Las Vegas Sands, Live Nation — Casino stocks rose on Thursday after Las Vegas Sands reported its first quarter results and said it would continue its previously scheduled capital expenditure programs. Shares of Las Vegas Sands jumped 12%, while Wynn Resorts gained 8.6%. Shares of entertainment company Live Nation, which has also been one of the worst performers during the coronavirus crisis, rose 8.5%.
Chevron, Exxon Mobil, Apache — Energy shares rose broadly as oil prices continued their sharp rebound from historically low levels. Chevron and Exxon were the best-performing Dow stocks, rising 2.8% and 3.1%, respectively. Shares of Apache gained 11.5%.
Target — Shares of Target sunk nearly 3% despite CEO Brian Cornell saying the big box retailer has seen a sharp increase in online sales. Since its fiscal first quarter began, Target's same-store sales have risen more than 7%. The gain, which compares with an increase of 1.5% in the fiscal fourth quarter. So far in April, comparable digital sales have increased by more than 275% from a year ago.
Hershey — Shares of the candy company fell more than 4% after it missed expectations for the first quarter on the top and bottom lines and withdrew forward guidance. Hershey reported $1.63 in adjusted earnings per share and $2.04 billion in revenue. Analysts expected $1.71 in earnings per share and $2.08 billion in revenue, according to Refinitiv. The company said retail foot traffic has been volatile.
PulteGroup — Shares of the homebuilding company fell 0.8% after reporting quarterly profit that beat Wall Street's expectations. PulteGroup reported earnings per share of 74 cents, while analysts estimates 70 cents per share, according to Refinitiv. The company said there has been a slowdown in consumer traffic and withdrew its previous guidance.
Sleep Number — Shares of the mattress company soared nearly 30% after beating expectations for the first quarter. The company, which has a market cap of under $1 billion, reported earnings of $1.36 per share on $473 million in revenue. Analysts expected 72 cents of earnings per share and $433 million in revenue, according to Refinitiv.
Expedia — Shares of the travel company rose by more than 3% after Expedia announced that it was raising $3.2 billion in capital help keep the business running during the pandemic. The financing round includes $1.2 billion of preferred shares and $2 billion in debt.
JetBlue — Shares of JetBlue jumped 1.9%, paring its massive 2020 losses to about 55%. The airline company took a huge hit as air travel has dropped by more than 95% as the pandemic spreads around the U.S. JetBlue CEO Robin Hayes told CNBC Tuesday he thinks the company is currently at the bottom of the downturn. "We are bumping along the bottom," he said. The airline industry is receiving $50 billion in aid dedicated to the ailing sector.
Union Pacific — Shares of the railroad company jumped more than 3% after a stronger-than-expected first quarter. Union Pacific reported $2.15 in earnings per share and $5.23 billion in revenue. Analysts expected $1.90 in earnings per share and $5.09 billion in revenue. The company's operating ratio, a measure of profitability, set a new company record for a quarter.