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Check out the companies making headlines in midday trading.
DoorDash — Shares of the online grocery delivery platform rose 7% after it reported a drop in sales and an upbeat forecast. The company’s revenue was $1.82 billion in the fourth quarter, beating the $1.77 billion estimated by analysts polled by Refinitiv. However, the reported losses were larger than analysts’ forecasts, totaling a loss per share of $1.65 versus analysts’ estimate of 68 cents.
Texas Roadhouse — Shares of the restaurant chain fell about 5%, falling from a 52-week high during Thursday’s trading session. Texas Roadhouse’s fourth-quarter earnings and revenue came in below expectations. The restaurant posted earnings per share of 89 cents versus the $1.03 estimated by analysts polled by Refinitiv. Revenue came in at $1.01 billion, missing analyst estimates of $1.02 billion. The company blamed commodity inflation and higher wages for the deficit.
DraftKings — Shares of the sports betting company rose 6% after its fourth-quarter earnings and revenue beat analysts’ estimates. DraftKings posted a loss of 53 cents per share on revenue of $855 million. Analysts polled by Refinitiv had expected a loss of 53 cents a share on revenue of $800 million.
Applied Materials — The semiconductor company’s stock rose about 2% after Applied Materials released its latest results. The company earned $2.03 per share excluding special items for the fiscal first quarter, beating a consensus estimate of $1.93 per share, according to Refinitiv. Revenue for the same quarter was $6.74 billion, beating analyst estimates of $6.69 billion. Meanwhile, the company lowered its guidance for the second fiscal quarter, citing ongoing supply chain challenges.
Modern — The biotech’s shares fell 6.7% after its influenza vaccine candidate yielded mixed results in clinical trials.
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