Check out the companies making headlines in midday trading.
Ford Motor — Shares of the automaker soared 8.7% after a stellar earnings report. Ford Motor, which reported earnings Wednesday, nearly doubled Wall Street's earnings expectations and slightly beat revenue projections for the third quarter. The automaker also increased its annual guidance for the second time this year.
eBay — The e-commerce company's stock fell 6.8% after a weak fourth-quarter revenue guidance. eBay topped earnings expectations by 1 cent per share and beat revenue estimates, according to Refinitiv, however.
Tesla — Shares of Tesla continued climbing as Piper Sandler hiked its price target on the electric vehicle stock to a new Street high. The stock traded up 3.8%. Piper Sandler raised its share price forecast to $1,300 from $1,200, implying 25% potential upside from Wednesday's close.
Apple, Amazon — Big Tech names Apple and Amazon traded higher ahead of their quarterly earnings reports after the bell Thursday. Apple gained 2.5%, while Amazon rose 1.6%.
Caterpillar — Shares of Caterpillar rose 1.7% after it reported a third-quarter beat on bottom-line estimates despite a slight revenue miss. The heavy equipment maker recorded earnings of $2.66 per share, beating analysts' estimates of $2.20.
Naked Wines — Shares of Naked Wines leapt about 50% after hedge fund manager Glen Kacher revealed the company as a top pick on CNBC's "Halftime Report" Thursday. Kacher has built a 9.9% stake in the wine distributor.
Merck — The drug maker jumped 6.1% after reporting its quarterly earnings. Merck brought in $1.75 per share, beating estimates by 20 cents, and topping revenue estimates thanks to stronger sales of vaccines and cancer drugs.
Anheuser-Busch — Shares of the beer brewer soared 9.4% after a surprise increase in third-quarter profit. The company also raised its earnings forecast for the year.
Northrop Grumman - Shares of the defense contractor dropped 7.6% after the the company's third-quarter revenues came in at $8.72 billion, short the expected $8.95 billion, according to Refinitiv. The company saw year-over-year sales declines in its aeronautics and defense segments. Northrop did beat expectations for earnings per share.
Twilio — Shares of Twilio sunk 17.6% despite better-than-expected quarterly earnings results. Twilio earned 1 cent per share, better than the 15 cent loss per share expected, according to Refinitiv. Revenue also came in above estimates. However, Twilio forecast a wider-than-expected loss in the fourth quarter. COO George Hu also announced his departure.
Teradyne — Teradyne's stock surged 11.3% after a better-than-expected earnings report. The equipment maker reported adjusted profit of $1.59 per share on revenue of $950.5 million. Analysts surveyed by StreetAccount expected earnings of $1.43 per share on revenue of $932.9 million. Teradyne also received upgrades from Cowen and UBS following the earnings report.
Tempur Sealy — The mattress company's shares fell 3.6% despite reporting strong quarterly results. Tempur Sealy recorded earnings of 88 cents per share for the quarter, beating estimates by 3 cents. It also reported a revenue beat and a strong sales increase in international markets.
Teladoc Health — Shares of telehealth company popped 7.6% after reporting a smaller-than-expected earnings loss for the third quarter. Teladoc lost 53 cents per share, while analysts expected a loss of 65 cents per share, according to Refinitiv. The company made $522 million in revenue, topping estimates of $517 million.
ServiceNow — Shares of the software company rose 3.5% in midday trading after beating on the top and bottom lines of its quarterly results. ServiceNow reported earnings of $1.55 on revenue of $1.51 billion. Wall Street expected earnings of $1.38 per share on revenue of $1.48 billion, according to Refinitiv.
American Express — Shares of American Express dipped 6.7% after the company announced a new fully digital business checking account and its first ever business debit card.
— CNBC's Tanaya Macheel, Maggie Fitzgerald, Yun Li and Jesse Pound contributed reporting