Lyft, Tripadvisor, Take-Two Interactive and more

Check out the companies making headlines in midday trading.

Lyft – Shares of Lyft plummeted 21% after the company’s earnings report showed mixed results in the last quarter. The rideshare company reported adjusted earnings per share of 10 cents, more than analysts’ expectations of 7 cents, but revenue fell short of the Street’s forecast, coming in at $1.05 billion versus $1.06 billion expected, per Refinitiv.

Tripadvisor – The travel platform dropped 17% after its quarterly earnings came in below expectations.  The company cited currency fluctuations as a driver of the performance while noting demand for travel remained strong.

Take-Two Interactive – Shares of Take-Two tumbled more than 11% a day after the video game company slashed its outlook for net bookings for the year. It also said it expects a net loss for the fiscal year ending March 31, 2023 between $674 million to $631 million, worse than the guidance provided in its first-quarter earnings. 

Kohl’s – Shares of the retailer surged 10% following news that CEO Michelle Gass is leaving the company. Gass will join Levi Strauss & Co. as president and CEO in waiting come January. Levi Strauss shares slipped 1.8% on the news.

Scotts Miracle-Gro – Shares of fertilizer company Scotts Miracle-Gro surged 10% Tuesday after Barclays upgraded the stock to overweight and said they see it surging another 50%.

Carvana – Carvana shares continued their sell-off, dropping 1%, after the used-car dealer’s earnings miss on Friday. JPMorgan cut its price target on Carvana Tuesday, and Morgan Stanley pulled its rating and price target for the stock on Friday. 

Dave & Buster’s Entertainment – The restaurant and entertainment stock rose 2% following Deutsche Bank’s upgrade to buy from hold. The bank said Dave & Buster’s offers a “compelling” risk-reward despite a difficult macro picture.

Tesla – Tesla’s stock shed 1% during midday trading Tuesday amid news that the company is recalling more than 40,000 of its vehicles in the U.S. due to a potential loss of power steering. News also broke that the electric-vehicle maker’s CEO and new Twitter owner Elon Musk is weighing a potential paywall on the social-media platform. Earlier this week, Musk said he would permanently suspend accounts that impersonate without a parody label on Twitter.

Norwegian Cruise Line – The cruise stock added 4% after the company posted a smaller-than-expected loss and revenue beat for the recent quarter as travel demand returns. The company said it expects 2023 bookings to equal 2019 levels but at “significantly higher” pricing. 

Lordstown Motors — Shares fell 1% following an announcement that Foxconn will become the biggest shareholder in Lordstown Motors, and will invest up to $170 million in the electric vehicle maker.

Amgen — The stock advanced 6.5% a day after a presentation from the American Heart Association’s annual Scientific Sessions event. There, Amgen gave an update on its obesity drug AMG 133. Management said preliminary data was “encouraging,” according to a Mizuho note on Monday. On Tuesday, the stock was trading at highs not seen since its IPO in 1983.

Palo Alto Networks — The cybersecurity stock jumped 6% after Morgan Stanley said it is “pounding the table” on Palo Alto Networks as a top pick, saying the set-up for the company is “compelling” in a tough macro backdrop.

Dupont De Nemours – Shares of Dupont De Nemours rose 7% after the chemicals company announced quarterly results that beat Wall Street’s expectations and reaffirmed its full-year guidance.

SolarEdge Technologies – Shares of SolarEdge rose 18% after the company reported record revenue in its last quarter that beat analysts’ expectations. The company also gave a forward guidance for fourth-quarter revenue of $855 million to $885 million, where analysts estimated $857 million.  

Welltower – Shares of Welltower, a real estate company, gained 10% after posting its quarterly results Monday evening. Revenue beat expectations driven by higher occupancy in its senior housing facilities.

Mosaic – Fertilizer company Mosaic gained 5.8% even though it reported earnings that fell short of Wall Street’s expectations. Earnings per share were $3.22 versus the estimate of $3.40, according to Refinitiv. Revenue was $5.35 billion instead of the expected $5.79 billion.

Lumen Technologies – Shares of Lumen Technologies jumped 4.8% as investors look to buy back into the company after it shed nearly 30% when it reported disappointing earnings results earlier in the month.

Medtronic – Shares of the health-care technology company shed 4% after it reported results of a study on hypertension that showed a device it created only helped reduce blood pressure slightly more than medications.

Robinhood – Shares of trading platform Robinhood slipped more than 11% as investors weigh the potential impact from the controversy around cryptocurrency firm FTX.

Planet Fitness – Shares of the gym operator surged 11.5% after the company reported quarterly earnings and revenue that beat Wall Street’s estimates.

Reynolds Consumer Products – Shares of consumer company Reynolds fell 5.4% after it reported mixed earnings results. Adjusted earnings per share were 24 cents, while analysts expected 23 cents. Revenue fell short of estimates coming in at $967 million instead of $979 million.

Perrigo– Shares of pharmaceutical company Perrigo slumped 16% after the company reported earnings and revenue that fell short of analysts’ expectations, according to Refinitiv.

Five9 – Shares of Five9, a cloud company, jumped 15% after it posted quarterly results. The company reported $198.3 million in revenue, which beat expectations, according to StreetAccount. However, fourth-quarter guidance for revenue and per-share earnings was lighter than analysts anticipated.

— CNBC’s Samantha Subin, Michelle Fox, Alex Harring, Tanaya Macheel and Sarah Min contributed reporting