Stocks making the biggest moves: Activision Blizzard, Dish Network, Tesla – CNBC


KIEV, UKRAINESOPA Images | LightRocket | Getty ImagesCheck out the companies making headlines midday Friday:Newell Brands — Newell Brands shares soared more than 11% after the company beat Wall Street estimates on its first-quarter results. The Rubbermaid container and Elmer glue maker reported earnings of 14 cents per share. Analysts polled by Refinitiv expected a profit of 6 cents per share.CBS — Shares of the media company fell nearly 2.3% after reporting quarterly revenue that missed analyst expectations. CBS posted a revenue of $4.17 billion for the first quarter, while analysts polled by Refnitiv expected sales to total $4.3 billion.Activision Blizzard — Shares of Activision Blizzard were down 5.4% a day after the company said its monthly active users fell nearly 8% from the same time period a year ago. That decline overshadowed stronger-than-expected first-quarter earnings.Expedia — The travel site’s stock dropped 2.3% after the company reported a lower-than-expected occupancy rate in its affiliated hotels. Room nights, a key measure for the hotel industry, grew by 9% in the first quarter. Analysts polled by Refinitiv expected growth of 9.4%. Revenue for the quarter also disappointed investors.Gilead Sciences —Gilead Sciences gained 3.2% after revenue from from the company’s HIV medication Biktarvy crushed expectations, bringing in $793 million, $111 million higher than expected. The pharmaceutical company also reported earnings of $1.76 per share, 15 cents higher than a Refinitiv estimate.Shake Shack — Shake Shack jumped 4.1% after the company reported same store sales that surpassed analyst expectations. The burger joint reported first-quarter same-store sales growth of 3.6%, while analysts polled by Refinitiv had only expected a 0.9% increase.U.S. Steel — The company’s stock jumped more than 10% on the back of quarterly results that surpassed analyst expectations. U.S. Steel posted earnings per share of 47 cents, easily topping a Refinitiv estimate of 22 cents. Revenue for the first quarter also topped expectations.Walmart — Walmart shares rose 1% after an analyst at Bernstein upgraded the retailer’s stock to outperform from market perform, noting Walmart could show an “outsized” return moving forward.Tesla — Shares of the electric car maker were up 4.5% after the company said it increased the size of the stock and bond offering. Tesla said it was set to raise up to $2.7 billion in capital, which would also include a $25 million from CEO Elon Musk.Dish Network — Shares of the U.S. television provider rose nearly 4% despite the release of disappointing quarterly results. Dish Network reported earnings per share of 65 cents on revenue of $3.187 billion. Wall Street expected a profit of 66 cents a share on sales of $3.188 billion, according to Refinitiv.—CNBC’s Nadine El-Bawab, Matt Lavietes and Jessica Bursztynsky contributed to this report.
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