A Solarpro employee installs a SolarEdge Technologies Inc. inverter at a residential property in Sydney, May 17, 2021.
Brendon Thorne | Bloomberg | Getty Images
Discover the companies making significant midday moves:
SolarEdge Technologies — The solar stock experienced a 19% decline as the company’s reported revenue of $991 million fell short of analysts’ estimates of $992 million, according to Refinitiv. SolarEdge also provided disappointing third-quarter revenue guidance.
CVS Health — The retail pharmacy stock rose 4% during midday trading Wednesday as the company posted strong earnings and revenue for the second quarter. CVS reported earnings of $2.21 per share on revenue of $88.9 billion, surpassing Wall Street analysts’ expectations of $2.11 per share on earnings of $86.5 billion, according to Refinitiv.
Norwegian Cruise Line — The cruise stock declined 3.2% after reporting weaker-than-expected guidance for the third quarter. However, its second-quarter earnings exceeded analysts’ estimates. Shares were also downgraded by Susquehanna from positive to neutral as the Wall Street firm believes it will take some time for Norwegian to return to pre-pandemic EBITDA margins.
Emerson Electric — Shares rallied 4% following Emerson Electric’s better-than-expected earnings and revenue for its fiscal third quarter. The company reported adjusted earnings per share of $1.29, surpassing the $1.10 expected by analysts polled by StreetAccount. Revenue amounted to $3.95 billion, compared to Wall Street’s forecast of $3.88 billion.
Pinterest — The social media platform saw a 4.9% decline despite surpassing revenue expectations for the second quarter. Pinterest reported $708 million in revenue, exceeding FactSet’s consensus estimate of $696.4 million. However, the company’s third-quarter revenue growth forecast fell short of expectations.
Starbucks — Shares rose 2.6% following the release of the coffee giant’s earnings report. Starbucks reported adjusted earnings per share of $1 for the fiscal third quarter, surpassing analysts’ expectation of 95 cents, as reported by Refinitiv. However, revenue fell short at $9.17 billion compared to the anticipated $9.39 billion.
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