Facebook, Ford, eBay and more

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Check out the companies that are making headlines in mid-day trading.

Ford – The automaker’s shares fell more than 9% Thursday after Ford announced it would lose half of its production in the second quarter due to the global semiconductor shortage. The company exceeded expectations for first quarter sales and earnings.

Facebook – The social network was up 5.3% in midday trading after posting revenue of $ 26.17 billion in the first quarter. This corresponds to an increase of 48% over the previous year, which is due to more expensive ads. Facebook also trimmed its forecast for investments for the year to between $ 19 billion and $ 21 billion.

Uber, Lyft – Shares in hail-fighting companies fell after Labor Secretary Marty Walsh said most gig workers in the US should be considered white-collar workers, Reuters reported. Uber fell 6% and Lyft fell 9%.

Caterpillar – Shares in the global machinery maker fell more than 3% after posting better-than-expected first-quarter sales and earnings. The stock appeared to come under pressure after CEO Jim Umpleby suggested that global supply chain problems, including semiconductor shortages, could make it harder for the heavy equipment maker to meet recovering demand this year.

Qualcomm – Qualcomm shares rose nearly 3% after the chipmaker reported that sales were up 52% ​​on an annualized basis for the three months ended March 28. The company reported adjusted earnings per share of $ 1.90 versus $ 1.67 expected by analysts surveyed by Refinitiv.

Cheesecake Factory – The restaurant chain’s shares rose around 5.5% after adjusted quarterly earnings of 20 cents per share, while analysts expected a loss of 6 cents per share, according to Refinitiv. Sales also exceeded expectations.

Spotify – The streaming company’s share price rose about 1.6% after Pivotal upgraded it to buy from the hold. Spotify cratered 12% on Wednesday after its first-quarter report showed slower-than-expected growth for monthly active users. However, pivot analyst Jeffrey Wlodarczak said the company is poised for strong growth in the years to come.

eBay – The e-commerce company’s shares were down more than 11% after disappointing forecasts for the current quarter. EBay surpassed the income statement for its quarterly results.

Merck & Co. – Pharmaceuticals stock lost more than 5% after Merck’s first quarter results came in below expectations. The company reported adjusted earnings per share of $ 1.40 on revenue of $ 12.08 billion for the quarter. Analysts surveyed by Refinitiv searched for earnings per share of $ 1.63 on revenue of $ 12.66 billion.

DISH Network – Television stock rose 7.3% after Dish beat expectations for the first quarter. According to Refinitiv, the company earned 99 cents per share, 18 cents more than analysts expected. Revenue also exceeded expectations as the decline in TV subscribers slowed.

Comcast – Shares of NBCUniversal and CNBC parent companies rose 3.7% after beating estimates, reporting adjusted quarterly earnings of 76 cents per share, according to Refinitiv. Sales also exceeded expectations.

Generac – The generator manufacturer’s shares fell 3.5% after the company beat the income statement for its quarterly results. Generac reported earnings per share of $ 2.38 on sales of $ 807 million. According to Refinitiv, analysts expect earnings per share of USD 1.87 on sales of USD 729 million.

Bristol-Myers Squibb – The pharmaceutical company’s shares fell 4.5% after missing the high and low end of quarterly results. Bristol-Myers Squibb reported earnings of $ 1.74 per share, compared to its estimate of $ 1.82 per share, according to Refinitiv. Revenue was $ 11.07 billion, below the forecast of $ 11.12 billion.

– with reports from Jesse Pound and Tom Franck of CNBC.

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