Take a look at the companies making headlines in midday trading: Entertainment giant Walt Disney fell 10% after reporting fiscal second-quarter results. Walt Disney reported adjusted earnings that beat forecasts and reported strong growth in Disney+ subscribers, but slightly missed revenue forecasts. The company also said it expects a loss in its direct-to-consumer entertainment business this quarter. Nvidia – Shares fell about 1%. Billionaire investor Stanley Druckenmiller said on CNBC’s “Squawk Box” that he cut his stake in the chipmaker in late March, saying artificial intelligence may be “a little overvalued” in the short term. Ferrari NV — U.S.-traded shares of the Italian sports car maker fell nearly 5%. Ferrari beat Wall Street estimates for revenue and profit for the first quarter, according to FactSet, but the company reiterated previous guidance for revenue and earnings per share for the full year. Datadog – Shares fell 10% after the company announced in an earnings release that Amit Agarwal would step down as president later this year. The cloud application maker posted better-than-expected adjusted earnings and revenue for the first quarter, according to FactSet. In other cases, deferred revenues were identified and accounts met expectations. Lucid Group – Shares of the electric vehicle company fell 13% after reporting a loss of 30 cents per share under generally accepted accounting principles. The result was worse than FactSet’s expected loss of 25 cents per share. Other electric vehicle stocks were also lower, with Tesla and Li Auto each last down about 3%. Xpeng fell more than 6%. Palantir Technologies — Shares of the defense technology company fell nearly 14%. Palantir Technologies beat revenue expectations and posted adjusted earnings that were in line with estimates but provided disappointing guidance for the full year. The company said it expects revenue this year to be between $2.68 billion and $2.69 billion, below LSEG’s estimate of $2.71 billion. UBS Group – U.S.-traded shares of the European bank jumped nearly 7% after as first quarter results exceeded expectations. UBS reported earnings per share of 52 cents on revenue of $12.74 billion. Analysts polled by StreetAccount expected earnings of 18 cents per share on revenue of $11.95 billion. Rocket Lab – Shares fell nearly 4% after , as the company reported a drop in first-quarter revenue. The aerospace maker reported revenue of $92.8 million in the first quarter, below the FactSet consensus estimate of $95 million. A loss of 9 cents per share was in line with estimates. Rocket Lab has also delayed the launch of its Neutron rocket until mid-2025. Peloton — CNBC reported Tuesday that private equity firms are considering taking Peloton private, sending shares up 13%. Hims & Hers Health, a telemedicine consultation platform, grew by 7%. Hims & Hers Health issued second-quarter revenue guidance that beat expectations. The company expects revenue of $292 million to $297 million, better than the $288 million expected by analysts polled by LSEG. First quarter results also exceeded expectations. The target is that the retailer’s shares added 1.3% amid two optimistic forecasts from analysts. Citi upgraded the stock to neutral and said it is among the outperformers in the retail sector. UBS, which also has a buy rating, said the upcoming first-quarter earnings report should act as a positive catalyst for the stock and support bullish trends. Simon Property Group — Shares of the shopping center operator rose 4% after reporting first-quarter revenue growth. Revenue was $1.30 billion, beating analysts’ expectations of $1.29 billion, according to LSEG. — CNBC’s Jesse Pound, Brian Evans, Alex Harring, Sarah Min, Hakyung Kim and Tanaya Machil contributed reporting.
