Midday trading saw several companies making headlines. Amazon, the e-commerce giant, rocketed 10% after delivering a tremendous profit surpassing estimates and giving a positive outlook. Additionally, bigger than expected revenue from its cloud and ad businesses was seen during the quarter. Jim Cramer praised Starbucks for an exceptional quarter, citing various reasons. Apple, a giant tech firm, slipped 3%. It reported earnings per share for the fiscal third quarter of $1.26, which was 7 cents more than the forecast from analysts polled by Refinitiv. Revenue was also above what was anticipated from Wall Street, yet was lower than the previous year's results. Tupperware Brands’ stock shot up 44.1% midday after announcing a finalized debt restructuring deal they expect will reduce or reallocate about $150 million of cash interest and fees, while also providing immediate access to a revolving borrowing capacity of about $21 million. Booking Holdings’ shares increased 9% and reached a new 52-week high after announcing its quarterly results Thursday after hours. The company reported adjusted earnings of $37.62 per share on revenue of $5.46 billion, surpassing the estimates of $28.90 per share and $5.17 billion respectively. Icahn Enterprises’ stock sunk 25% after cutting its quarterly dividend in half due to Hindenburg Research’s campaign, who had taken issue with the firm's high dividend yield, noting it was unsupported by the company's cash flow and investment performance. Block, the fintech company, saw its shares take a dive of 13% despite a strong quarterly report. Square reported earnings of 39 cents per share, compared to Refinitiv’s forecast of 36 cents per share. Revenue of $5.53 billion was also more than the expectation of $5.10 billion. Nikola’s shares decreased 12% after it announced the CEO's departure due to a family health matter, and posted second-quarter results that were below Refinitiv consensus estimates. Fortinet’s stock experience a plunge of 23% after a mixed second-quarter report and outlook, with adjusted earnings per share of 38 cents and revenue of $1.29 billion, down from the consensus estimates of 34 cents and $1.3 billion respectively. Opendoor Technologies’ stock dropped 19% after informing investors of lower-than-expected revenue for the current quarter. DraftKings’ sports-betting stock rose 4% on a strong quarterly report, with a loss of 17 cents per share and revenue of $875 million, below the 25 cents and $764 million predicted by Refinitiv analysts. Airbnb’s shares declined 1.3% following its second-quarter earnings announcement, while Dropbox’s added 6.8% after surpassing Wall Street expectations in the second quarter. Redfin’s real estate tech stock decreased 20.2% following its lower-than-expected third-quarter revenue guidance, and Corsair Gaming’s shares fell 8.6% even though its quarterly report and full-year guidance were both strong. Coinbase’s crypto exchange slid 1.2% despite posting a strong second-quarter report, and Sprout Social’s digital media stock dropped 10.8% in response to its acquisition of Tagger Media. Intercontinental Exchange and Shake Shack gained 3.8% and 5% respectively following positive news, while Petrobras’ Brazilian oil stock retreated 2.2% after a downgrade to neutral from overweight by JPMorgan.
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