Here’s a look at the companies making headlines in midday trading: Apple — Shares rose about 2% ahead of the iPhone maker’s second-quarter results, due after the close. Peloton — Shares fell 13% after the workout equipment company announced Thursday that CEO Barry McCarthy was resigning and that the company would lay off 15% of its workforce, or about 400 employees, to “bring its costs into line.” compliance with income.” Peloton’s fiscal third-quarter results also fell short of Wall Street’s earnings and revenue expectations. Qualcomm Shares rose more than 9% after the chip maker on Wednesday reported adjusted earnings of $2.44 per share for its most recent quarter. , beating analysts’ estimates of $2.32 per share, according to LSEG. The top end of Qualcomm’s revenue forecast for the current quarter was higher than Street expectations, with the company citing demand for smartphones that require cutting-edge chips. Wayfair – Home furnishings retailer shares. jumped 13.5% after beating expectations on both items. Wayfair said it lost 32 cents per share on an adjusted basis, less than the 44 cents estimated by analysts surveyed by LSEG. Revenue was $2.73 billion, higher. consensus estimate of $2.64 billion Carvana — Shares rose more than 32% after the used car retailer posted its best-ever quarterly earnings report. Cigna — Shares of the insurer fell 2.5% despite beating Wall Street’s revenue and profit estimates in the first quarter. Cigna also reiterated its previous guidance for the full year. Moderna — Shares of the vaccine maker rose more than 7% after it reported a smaller-than-expected first-quarter loss due to cost cuts. Moderna also reiterated its full-year guidance. DoorDash — The food delivery service fell nearly 14% after DoorDash reported a loss of 6 cents per share in the first quarter, wider than the 4 cents per share loss expected by analysts polled by LSEG. However, the company reported revenue of $2.51 billion, above the consensus estimate of $2.45 billion. Etsy – Shares fell 15% after reporting a drop in first-quarter profit. Etsy reported adjusted earnings of 48 cents per share, while analysts polled by LSEG had forecast 49 cents per share. Revenue of $646 million was in line with expectations. Zillow — Shares of the real estate operator fell 5% after it issued weak guidance for the current quarter. According to FactSet, Zillow estimated second-quarter revenue of $525 million to $540 million, while analysts expected $559.2 million. eBay – Shares fell nearly 3% after the e-commerce company posted lower-than-expected guidance for the second quarter. quarter. EBay said it expects revenue in the range of $2.49 billion to $2.54 billion, while analysts polled by LSEG forecast $2.56 billion. Shake Shack — Shares of the restaurant chain rose more than 2% in afternoon trading after , as adjusted first-quarter earnings of 13 cents per share beat Wall Street’s forecast of 10 cents, according to analysts surveyed by LSEG. Revenue was largely in line with expectations. CORVO — Shares of the semiconductor sector fell more than 14% on weaker-than-expected first-quarter earnings guidance. Qorvo now expects earnings of 60 cents to 80 cents per share, down from analysts polled by FactSet expecting $1.27. — CNBC’s Pia Singh, Tanaya Machil, Samantha Soobin, Hakyung Kim, Lisa Kailai Han and Alex Harring contributed reporting.
