Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida.
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Check out the companies making headlines in midday trading.
Coca-Cola — Shares of Coca-Cola gained 1.9% after the beverage giant’s quarterly results beat on both top and bottom lines. Coca-Cola reported adjusted earnings of 65 cents per share, 7 cents higher than the Refinitiv consensus estimate. The company also hiked its full-year forecast.
McDonald’s — McDonald’s shares ran up 2.7% after the fast-food chain beat earnings estimates. The company reported adjusted quarterly earnings of $2.76 per share, compared with the anticipated $2.46 per share. Higher prices and new menu items helped boost the company’s revenue.
Boeing — Shares of Boeing dipped 1.5% after a wider-than-expected quarterly loss. The aircraft maker posted an adjusted quarterly loss of 60 cents per share, compared with 20 cents per share expected. Revenue also missed expectations.
General Motors — GM shares fell 5.4% despite an earnings beat. The automaker posted profit of $1.52 per share on revenue of $26.78 billion, while Wall Street expected earnings of 96 cents per share on revenue of $26.51 billion.
Harley-Davidson — Shares of the motorcycle manufacturer jumped 3.6% after it reported its quarterly results. The company reported $1.18 per share in adjusted diluted earnings per share, compared to analysts’ estimate of 77 cents per share, according to FactSet. Harley also topped revenue forecasts.
Spotify — Spotify shares rose 8.3% after the audio streaming service posted a wider-than-expected quarterly loss, but revenue and user growth topped estimates. The company said its podcast segment boosted revenue.
Microsoft — Shares of the tech giant popped 4.2% following a stronger-than-expected quarterly report. Microsoft reported adjusted earnings of $2.27 per share for its fiscal first quarter, exceeding analysts’ estimates of $2.07 per share, according to Refinitiv. Total company revenue climbed almost 22% year over year, marking the fastest growth since 2018.
Alphabet — Shares of Alphabet gained 5% after the Google-parent company beat on earnings. Alphabet reported earnings of $27.99 per share, compared with $23.48 expected, according to Refinitiv. Management said Apple’s privacy features only had a “modest impact” on YouTube revenues.
Twitter — Shares of Twitter fell 10.8% despite the company’s third-quarter report, which met analysts’ expectations for revenue and user growth. Twitter also said Apple’s privacy changes had less of an impact than expected. However, the company said expenses, such as investing in head count growth, will bleed into 2022.
Robinhood — Shares of the brokerage slipped 10.4% after Robinhood reported a top and bottom line miss for its third-quarter earnings and…
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