A traveler arriving at Los Angeles International Airport looks for ground transportation during a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights” in Los Angeles, California, U.S., August 20, 2020.
Mike Blake | Reuters
Check out the companies making headlines in midday trading.
Lyft – Lyft stock sank 13% after the ridesharing company reported mixed earnings results. Lyft 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.
Take-Two Interactive – Shares of software company Take-Two sank 15% after reporting a miss on revenue and lowering their guidance for the rest of the fiscal year. Revenue for the quarter was $1.50 billion versus an expected $1.55 billion. For the current quarter and the full year, the company is also anticipating weaker-than-expected net bookings.
Tripadvisor – Shares of Tripadvisor sank more than 15% in after hours trading following a miss on earnings. The company reported adjusted earnings per share of 28 cents where analysts expected adjusted earnings per share of 38 cents, according to Refinitiv. Revenue, however, was $459 million versus the $442 million estimate.
Syneos Health – Shares of Syneos Health fell 13.5% after jumping nearly 17% during the regular trading day. Investors may be buying and selling the biopharma company after it plunged 46% on Friday following disappointing earnings results.
Five9—Shares of cloud company Five9 shed 14% after reporting quarterly results. The company reported $198.3 million in revenue, which beat expectations. However, fourth-quarter guidance for revenue and per-share earnings came in lighter than anticipated.
Groupon – Groupon’s stock fell 4.8% after the company reported earnings that disappointed on the top and bottom lines. The company reported a 68 cent loss per share on $144.4 million. Analysts expected a loss of 40 cents per share on revenue of $157.3 million, according to Street Account.