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Check out the companies making the biggest moves midday:
SolarEdge Technologies — The solar stock tumbled about 19% after the company reported $991 million in revenue, missing analysts' estimates of $992 million, according to Refinitiv. SolarEdge also issued disappointing third-quarter revenue guidance.
CVS Health — The retail pharmacy stock gained 4% during midday trading Wednesday after the company posted strong earnings and revenue for the second quarter. CVS reported earnings of $2.21 per share on revenue of $88.9 billion, while Wall Street analysts expected $2.11 per share on earnings of $86.5 billion, according to Refinitiv.
Norwegian Cruise Line — The cruise stock sank 3.2%, a day after reporting weaker-than-expected guidance for the third quarter. Its second-quarter earnings, however, topped analysts' estimates. Shares were also downgraded by Susquehanna to neutral from positive. The Wall Street firm said Norwegian's return to pre-pandemic EBITDA margin will take some time.
Emerson Electric — Shares rallied 4% following Emerson Electric's earnings and revenue beat for its fiscal third quarter. The company reported adjusted earnings per share of $1.29, topping the $1.10 expected from analysts polled by StreetAccount. Revenue was $3.95 billion, compared to the $3.88 billion expected by Wall Street.
Pinterest — The social media platform slid 4.9% despite beating expectations on revenue for the second quarter. Pinterest posted $708 million against FactSet's $696.4 consensus estimate. Pintrest's third-quarter revenue growth forecast, however, missed expectations.
Starbucks — Shares added 2.6% following the coffee giant's earnings report was released. Starbucks adjusted earnings per share for the
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