Stocks That Make The Biggest Moves At Midday: Walmart, FirstEnergy, Fastly, Twilio, SunPower & More

A worker wearing a protective mask arranges shopping carts outside a Walmart store in Duarte, California, the United States, on Thursday, November 12, 2020.

David Swanson | Bloomberg | Getty Images

Check out the companies that are making headlines in midday trading.

Walmart – The big box retailer’s shares fell more than 5% after disappointing quarterly results. Walmart posted a loss of $ 2.09 billion, or 74 cents per share, compared to earnings of $ 4.14 billion, or $ 1.45 a year earlier. Adjusted earnings were $ 1.39 per share with no analyst estimates per refinitive. Walmart also warned that sales will weaken this year.

Fast – The network technology company’s shares plunged 14% after releasing weaker-than-expected earnings guidance for the coming year. Almost expected a full year loss per share of between 44 and 35 cents per share. Analysts surveyed by Refinitiv had posted a loss of 21 cents per share. The company’s fourth quarter results exceeded estimates in the income statement.

SunPower – The solar company’s shares were down more than 12% after SunPower missed fourth quarter revenue estimates. The company earned 14 cents out of positions, which FactSet estimates was above its expected earnings of 11 cents per share. Revenue was $ 341.8 million, below the expected $ 354.2 million. The company also issued a weaker-than-expected forecast for the first quarter.

Cheesecake Factory – The restaurant company’s shares rose nearly 7%, despite the company not providing estimates in the fourth quarter. Cheesecake Factory lost 32 cents per share excluding items and had sales of $ 554.6 million. Analysts polled by FactSet expected the company to lose 4 cents per share on sales of $ 604.6 million. The company said sales to comparable restaurants declined 19.5% in the fourth quarter due to the ongoing impact of covid-19.

Twilio – The cloud communications company’s shares fell more than 8% after hitting the income statement for quarterly results. Twilio made 4 cents per share on sales of $ 548.1 million. According to Refinitiv, analysts expected a loss of 8 cents per share on sales of 454.7 million US dollars.

Tilray – The cannabis company’s shares rose more than 1% in midday trading after Tilray reported a less-than-expected loss. The pot producer said it lost 2 cents a share. Analysts surveyed by Refinitiv expected a loss of 14 cents per share. Revenue also exceeded Wall Street analysts’ expectations. Tilray is expected to complete a merger with Aphria later this year, making it the largest cannabis company in the world.

FirstEnergy – Utility stocks rose more than 8% after the company announced that activist hedge fund manager Carl Icahn informed FirstEnergy that he plans to buy shares in the company. The Ohio-based utility company also released fourth quarter results that FactSet estimates fell short of expectations.

Hyatt Hotels – The hotel stock fell more than 1% after a major loss of earnings. Hyatt posted a quarterly loss of $ 1.77 per share, which was worse than a FactSet estimate of $ 1.37 per share. However, sales were above expectations.

– CNBC’s Maggie Fitzgerald, Jesse Pound, Pippa Stevens and Rich Mendez contributed to the coverage.

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