Stocks making the biggest moves midday: Live Nation, Moderna, Booking Holdings and more
Check out the companies making headlines in midday trading Thursday.
Live Nation – Shares of the live event producer popped more than 6% after the company reported a better-than-expected quarterly revenue. Live Nation also said 45 million tickets have been sold for 2022 events, even as ticket prices spiked significantly.
Moderna — Shares of the vaccine maker jumped nearly 11% on Thursday after Moderna reported better-than-expected results for the fourth quarter. The biotech company earned an adjusted $11.29 per share on $7.2 billion of revenue. Analysts surveyed by Refinitiv were expecting $9.90 in earnings per share on $6.78 billion of revenue. The company’s CEO told CNBC that he thought people would need another Covid booster shot in the fall.
Gannett – The USA Today publisher’s shares tumbled 10.2% after it posted a quarterly loss that was wider than expected. Its revenue for the last quarter came in below expectations. Gannett also said it expects revenue to fall this year.
Alibaba – The Chinese e-commerce giant fell nearly 5% after it reported its slowest-ever growth in quarterly revenue since going public in 2014. Alibaba’s quarterly revenue dipped below analyst forecasts as competition intensified. However, its quarterly earnings did topped Wall Street’s expectations.
Quanta Services – Shares of Quanta Services rose 9.7% in midday trading after the company reported stronger-than-expected quarterly earnings. The company report earnings per share 14 cents above estimates at $1.54 per share, according to Refinitiv.
Norwegian Cruise Line – The cruise line operator’s stock fell 5.2% after the company reported a wider-than-expected quarterly loss. Norwegian’s quarterly revenue missed estimates as well.
Papa John’s Pizza – Shares of the pizza chain dipped 2% amid a broad market sell-off, which overshadowed its better-than-expected profit and revenue for its latest quarter. Papa John’s did not provide 2022 guidance due to uncertainties related to the ongoing pandemic, however.
Booking Holdings – Shares of Booking Holdings dropped more than 9% after the company warned that there will be periods this year when the pandemic negatively impacts travel demand. Its warning came as Booking Holdings reported adjusted quarterly earnings of $15.83 per share, well above the $13.64 consensus estimate, according to Refinitiv. Its revenue also topping Wall Street forecasts.
– CNBC’s Jesse Pound and Maggie Fitzgerald contributed reporting.