Check out the companies that made headlines in midday trading. Apple — The tech giant soared more than 6% after announcing it would buy back $110 billion in stock. Apple also beat sales and bottom line, with second-quarter earnings of $1.53 per share on revenue of $90.75 billion. This beat analysts’ expectations for earnings of $1.50 per share and sales of $90.01 billion, according to LSEG. BLOCK — He rose 1% after the payment services provider reported first-quarter results that beat analysts’ expectations. Block reported adjusted earnings of 85 cents per share on sales of $5.96 billion, compared to analysts surveyed by LSEG that expected sales of $5.82 billion. That beat the profit of 72 cents. Live Nation Entertainment — Shares rose 9% after first-quarter earnings beat expectations. Management said it expects 2025 to be a strong year for the stadium, with continued growth in concert attendance. Expedia — Shares of Expedia fell 13% after the online travel booking company cited weaknesses in its vacation rental arm, Vrbo, and lowered its full-year outlook. Following the report, Wall Street firms including Piper Sandler and BMO Capital Markets downgraded Expedia’s ratings. DaVita — Shares of the healthcare provider fell 4% despite beating revenue and bottom line expectations and slightly raising its earnings outlook for this year. The company on Thursday reported first-quarter adjusted earnings of $2.38 per share on revenue of $3.07 billion, compared with analyst estimates compiled by FactSet for earnings of $1.95 per share and revenue of $3.07 billion. It was $3.03 billion. Booking Holdings — The online travel booking company rose nearly 4% after reporting first-quarter results that beat analysts’ expectations, helped by the early start of this year’s Easter holiday . The company said overall consumer demand remained strong, but pointed to risks from geopolitical tensions. Avidity Biosciences — Shares soared 3% after a bullish call from Bank of America. The company initiated coverage with a Buy rating and called for a potential 56% upside from Thursday’s closing price, citing Avidity’s strong pipeline for rare myopathy treatments. Amgen — The biotech company rose 12% after reporting improvements in both sales and bottom line profits in the first quarter. The company also announced that it will move forward with Phase 3 trials of its injectable obesity treatment. At the same time, shares of Novo Nordisk and Eli Lilly fell about 1% and 2%, respectively. Cloudflare — Despite first-quarter adjusted earnings and revenue beats, the company’s stock fell about 18% on the back of a weak full-year outlook. Arista Networks — This cloud networking company rebounded more than 5% after Jefferies upgraded the stock from hold to buy. The bank predicts Arista will be a “key beneficiary of AI.” Fortinet — The security stock fell 8% after the midpoint of its second-quarter revenue forecast was lower than analysts expected. However, the first quarter exceeded analysts’ expectations. —CNBC’s Alex Harring, Lisa Kailai Han, Michelle Fox and Pia Singh contributed reporting.
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