Take a look at the companies making headlines in midday trading: Novavax – Shares of the biotech company soared 98.7% after announcing a multibillion-dollar deal with French drugmaker Sanofi to jointly commercialize a Covid vaccine starting next year. The companies will also develop combination vaccines against coronavirus and influenza. Taiwanese semiconductor manufacturing. Shares of the chipmaker jumped 4.5% after reporting April revenue rose 60% year-on-year, helped by continued demand for artificial intelligence. Sweetgreen — Shares of Sweetgreen rose 34% after beating first-quarter revenue expectations. The salad chain reported revenue of $158 million, slightly beating LSEG’s estimate of $152 million. The company also raised its full-year guidance for revenue and adjusted earnings before interest, taxes, depreciation and amortization. Unity Software – Video game software shares fell 10%. Unity reported a wider-than-expected first-quarter loss of 75 cents per share, versus the 63 cents expected by analysts polled by LSEG. Unity Software said it expects second-quarter adjusted EBITDA to be between $75 million and $80 million, compared with the Wall Street consensus estimate of $98 million. Akamai Technologies — Shares of the cloud company fell 11% on weak guidance and mixed quarterly results. Akamai Technologies said it expects full-year revenue to be between $3.95 billion and $4.02 billion. Analysts polled by LSEG forecast full-year revenue to be $4.08 billion. Array Technologies – Solar shares rose 2% on amid better-than-expected quarterly results. Array’s first-quarter adjusted earnings were 6 cents per share on revenue of $153.4 million. Analysts polled by FactSet forecast a loss of 4 cents per share on revenue of $141.2 million. Victoria’s Secret — Shares rose more than 5% after the intimate apparel maker reported better-than-expected preliminary first-quarter results and reiterated its guidance. The company said it expects adjusted earnings to be between 7 cents and 12 cents per share. Previous forecasts ranged from a loss of 15 cents to a profit of 10 cents per share. Yelp — Shares of the restaurant review site fell nearly 7% after the company gave weak second-quarter revenue guidance. However, Yelp’s first-quarter earnings were good: 20 cents per share versus Street estimates of 6 cents per share at LSEG. Revenue was in line with forecasts. Natera – DNA testing company grew 10%. Natera reported a first-quarter loss of 56 cents per share on revenue of $367.7 million. The results beat Street expectations, with a loss of 71 cents per share and revenue of $316.3 million, according to FactSet. Gen Digital – Shares Jump by 15% on the back of good quarterly results. The owner of Norton and LifeLock reported adjusted earnings of 53 cents for the fiscal fourth quarter on total revenue of $967 million, an improvement from the same period last year. The company also increased its share repurchase program to $3 billion. Insulet – Medical device shares fell 6.6%. Insulet said higher marketing costs put pressure on first-quarter profits. The company also expects full-year revenue growth of 14% to 18% in 2024, compared to StreetAccount’s estimate of 15.5%. Dropbox – Cloud storage inventories remained unchanged after the report. on strong first quarter results. Dropbox beat revenue and profit forecasts, posting adjusted earnings of 58 cents per share on revenue of $631 million. Cheesecake Factory – Shares rose 4.4% after Citi upgraded the restaurant chain’s shares to buy due to “outlook divisional growth with increasingly reduced risk.” JFrog – Shares of the software company fell 18.7%. In the company’s earnings call, JFrog management noted that the first quarter was a “digestion” period, with customers thinking more about project costs in later quarters. However, JFrog reported adjusted earnings of 16 cents per share on revenue of $100 million in the first quarter. LSEG consensus estimates were for earnings of 14 cents per share on revenue of $99 million. Mettler-Toledo — The laboratory instrument maker jumped 14%. Mettler-Toledo reported first-quarter adjusted earnings of $8.89 per share on revenue of $925.9 million. Analysts were forecasting earnings of $7.64 per share and revenue of $879.7 million, according to FactSet. – Yun Lee CNBC’s Michelle Fox, Brian Evans, Hakyung Kim and Darla Mercado contributed reporting.
