Hilton, Yum Brands, Tesla and more

Hilton Worldwide Holdings Inc. signage will be posted outside one of the company’s hotel locations in San Francisco.

David Paul Morris | Blobmerg | Getty Images

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

Enlarge video – The teleconferencing company’s stocks rose 4% after KeyBanc upgraded the stock from sector weight to overweight. The investment firm said in a note that the move to hybrid work should create more demand for Zoom from corporate clients.

Uber – The rideshare company’s shares fell 3% after CNBC reported that SoftBank is selling about a third of its Uber stake, in part to cover losses on its investment in Chinese ridesharing company Didi. It plans to sell 45 million shares that have a 30-day vesting period.

Didi – The Chinese ride-hailing company saw its shares jump more than 11% after rejecting a Wall Street Journal report that said it could go private under the scrutiny of Chinese regulators. Didi went public in June and the stock has fallen since Chinese authorities announced a cybersecurity review of the business.

Yum Brands – Yum Brands shares rose roughly 6% after the company’s earnings report for the second quarter beat Wall Street’s expectations. The company reported earnings of $ 1.16 per share on sales of $ 1.6 billion. Analysts were expecting a profit of 96 cents per share on sales of 1.48 billion US dollars. Sales in the same store rose for all three big brands: Kentucky Fried Chicken, Taco Bell, and Pizza Hut.

Qualcomm – The semiconductor and telecommunications company’s stock rose 6% after announcing earnings on Wednesday night. It reported $ 1.92 per share, beating the consensus estimate by 24 cents. It also outperformed sales estimates and made an optimistic forecast. Morgan Stanley confirmed its overweight rating on the stock Thursday, saying it saw “surprising” upside moves in chipsets.

PayPal – PayPal shares are down more than 6%, despite analysts’ estimates in its earnings report for the second quarter on Wednesday evening by 3 cents to $ 1.15 per share. The payment giant gave a lower-than-expected outlook, noting that eBay is transitioning from PayPal to its own payment platform.

Hilton – The hotel brand’s shares rose 3.5% after the company reported quarterly earnings of 56 cents per share, beating analyst estimates by 16 cents. Hilton expects the demand for leisure and business travel to increase in the second half of the year.

Northrop Grumman – Shares in the aerospace and defense company rose 1.5% after the earnings report for the second quarter showed $ 6.42 per share, 58 cents more than analysts’ forecasts. The company also exceeded sales and raised its guidance for the full year.

Facebook – The social media giant’s stock fell 4% after warning sales growth could slow in the short term. The company exceeded revenue and earnings expectations for its second quarter report, but its user metrics were close to Wall Street projections.

Ford Motor – The automaker’s shares rose more than 3.5% after Ford raised its outlook for 2021 after a surprising profit in the second quarter. However, sales remained slightly below expectations due to the ongoing global shortage of semiconductor chips, which continues to affect the automaker’s production.

Tesla – Tesla shares rose 4.5% after Morgan Stanley maintained its overweight position in the company, saying second-quarter results could be pessimistic for the auto industry as a whole. While it “may take several years to play out,” it stands ready that the electric vehicle maker will price various products at just $ 20,000 or even $ 10,000 this “decade”.

– CNBC’s Hannah Miao, Yun Li and Jesse Pound contributed to the coverage

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