Stocks making the biggest movers midday: Las Vegas Sands, Southwest, GM, Discover & more

Here are companies making in midday trading.

Las Vegas Sands — The casino stock jumped more than 8% after the company reported smaller-than-expected loss for its third quarter. The company said it had an adjusted loss per share of 67 cents during the three month period and $586 million in revenue. Analysts surveyed by Refinitiv expected a loss of 73 cents per share and $579 million of revenue. The company said it had about $2.4 billion in cash at the end of September.

Southwest – Shares of Southwest Airlines gained more than 4% after the carrier said it managed to cut cash burn even as it suffered its biggest ever quarterly loss. The company posted a loss of $1.99 per share, better than an expected loss of $2.35 a share. Southwest trimmed its cash burn to an average of $16 million a day in the three months ended Sept. 30, from $23 million in the second quarter.

General Motors — The automotive stock rose 2.9% amid strong demand for the newly announced electric Hummer. The company's website says reservations are full for the first edition of the sport utility vehicle, which is due out next fall.

AT&T – Shares of AT&T popped nearly 6% after the telecom company reported quarterly revenue that topped Wall Street expectations. Total revenue came in at $42.3 billion during the third quarter, exceeding analyst expectations of $41.59 billion, according to Refinitiv. The company also posted stronger-than-expected gains in new phone subscribers. Its earnings matched estimates.

Discover Financial Services — The financial stock surged more than 6% after beating expectations for its third quarter. Discover reported earnings of $2.45 per share on revenues of $2.71 billion, while analysts surveyed by Refinitiv expected EPS of $1.56 on revenues of $2.67 billion. The company's said in a release that sales growth was positive in September.

Coca-Cola — Shares of the beverage giant ticked up more than 1% after its quarterly earnings came in above expectations. Coca-Cola reported EPS of 55 cents per share, higher than the forecast 46 cents per share, according to Refinitiv. Revenue fell 9% as the pandemic weighed on demand for soft drinks.

Whirlpool – Shares of Whirlpool dipped about 1% despite its stronger-than-expected quarterly results. The appliance maker reported quarterly profit of $6.91 per share in the previous quarter, well above the consensus estimate of $4.20 a share per Refinitiv. Its revenue also came in above expectations. The stock has risen more than 30% this year.

Tesla – Shares of the electric vehicle maker advanced more than 1% after the company reported its fifth-straight quarter of profits. The company beat top and bottom line expectations for the third quarter after delivering a record number of vehicles during the period. Earlier in the session shares were up more than 5%.

PulteGroup – Shares of the homebuilder declined 4% despite the company beating top and bottom line estimates during the third quarter. The company earned an adjusted $1.34 per share for the quarter, which was ahead of the $1.15 expected by analysts surveyed by FactSet. Revenue came in at $2.82 billion, which was also ahead of expectations.

Netgear — Shares of the tech company fell more than 5% despite beating Wall Street expectations for its third-quarter results. The stock has seen a strong run in recent months, gaining 41% between the end of June and the earnings announcement.

CSX Corp. — Shares of the rail-based freight company popped more than 3% after beating on the bottom line of its quarterly earnings. CSX earned 96 cents per share, topping estimates of 93 cents per share, according to Refinitiv. Sales, however, fell short of estimates.

Danaher — Shares of the business conglomerate rose more than 3% on the back of stronger-than-expected results for the third quarter. Danaher reported earnings per share of $1.72 on revenue of $5.88 billion. Analysts had forecast a profit of $1.36 per share on revenue of $5.51 billion, according to Refinitiv. Those results were driven by better-than-expected sales from Danaher's life sciences and diagnostics divisions.

Source: Read Full Article