Here’s a look at some of the companies catching our eye in midday trading: Spotify Technology — Shares soared 12% after the music streaming company reported better-than-expected second-quarter earnings. Gross and operating profits also beat expectations. Analysts said they were cautiously optimistic, citing strong margins and the company’s focus on premium subscribers and bundles, despite soft monthly active user numbers. United Parcel Service — The parcel delivery company plunged nearly 12% to a 52-week low after both second-quarter sales and profits fell short of expectations. UPS reported earnings per share of $1.79 on revenue of $21.8 billion. Analysts surveyed by LSEG were expecting earnings per share of $1.99 on revenue of $22.18 billion. The stock was also headed for its worst day on record. MSCI — Shares surged 7.9% after the company reported second-quarter profits that beat Wall Street expectations. MSCI reported earnings per share, excluding items, of $3.64 on revenue of $707.9 million. That beat analysts surveyed by FactSet were expecting earnings of $3.55 per share on revenue of $696.4 million. Pentair — The water treatment company rose 9%, and its shares are on pace to close at an all-time high. Pentair beat expectations in second-quarter profit, earning $1.22 per share excluding items. The FactSet consensus estimate was $1.14 per share. Revenue also beat expectations. Additionally, Pentair raised its full-year guidance. NXP Semiconductors — Shares tumbled more than 7% after the company missed second-quarter profit expectations. NXP Semiconductors reported adjusted earnings per share of $3.20, below LSEG’s consensus estimate of $3.21.But sales, at $3.13 billion, were in line with expectations. Crown Holdings — Shares rose nearly 9% after the packaging company reported better-than-expected second-quarter profits. Crown earned $1.81 per share, beating the FactSet consensus estimate of $1.59 per share. The company’s sales of $3.04 billion were slightly below the consensus estimate of $3.06 billion, but Crown raised its full-year guidance, beating expectations. Danaher — Shares rose 5.3% after the company reported earnings per share, excluding items, of $1.72 on sales of $5.74 billion, beating the FactSet consensus estimate of $1.57 per share and sales of $5.59 billion. CEO Rainer Blair said in a statement that the company was “particularly pleased with the continued positive momentum in our bioprocessing business and the strong performance of Cepheid, where we believe we regained market share in molecular testing this quarter.” Inter Parfums — Shares rose nearly 9% after the perfume maker reported record second-quarter net sales. The company also reaffirmed full-year profits and revenues, noting that sales continue to grow more slowly than revenues. Comcast — Shares fell more than 2% after the company reported mixed results. Adjusted earnings of $1.21 per share beat LSEG’s consensus estimate of $1.12 per share, but second-quarter revenue of $29.69 billion fell short of expectations of $30.02 billion. Zions Bancorporation — Shares rose more than 6% after second-quarter profit beat Wall Street expectations. The regional bank earned $1.28 per share, beating the consensus estimate of $1.10 from analysts surveyed by LSEG. General Motors — Shares of the auto giant fell more than 6% after the company said it was slowing its all-electric vehicle plans again, further delaying its second electric truck factory in the U.S. and the Buick brand’s first EV. A six-month delay in revamping its electric truck factory in Michigan also means GM won’t meet its previous goal of producing 1 million EVs in North America by 2025. GE Aerospace — Shares surged more than 5% after the aerospace company’s second-quarter profit beat second-quarter expectations. The company reported adjusted earnings per share of $1.20 on sales of $9.09 billion. Analysts had expected earnings of 99 cents a share and revenue of $8.46 billion, according to LSEG estimates. Sherwin-Williams — Shares rose nearly 7% after the company reported second-quarter profit that beat expectations. Excluding items, Sherwin-Williams earned $3.70 a share, beating the $3.49 expected by analysts surveyed by FactSet. But revenue of $6.27 billion missed the FactSet consensus estimate of $6.33 billion. The company also slightly raised its full-year profit guidance and now sees low-single-digit revenue growth in both the third quarter and the full year. Lockheed Martin — Shares rose more than 5% after the defense company beat earnings and revenue expectations. Lockheed Martin also raised its full-year profit and revenue outlook. — CNBC’s Alex Harring, Yun Lee and Hakyung Kim contributed to the report. Disclosure: Comcast owns NBCUniversal, CNBC’s parent company.
SPOT, UPS, PNR, etc.
